INDIANAPOLIS, IN – Milhaus, a national award-winning developer, owner and operator of class A, in-fill and mixed-use developments, is excited to announce the June grand opening of Grid, a $30.4 million apartment project located at 520 E. Washington St. in Indianapolis.
Grid includes 175 apartment units and 175 parking spaces in the heart of downtown Indianapolis. Its high-end amenities alongside some of the city’s best local dining, shopping and entertainment offers everything the community residents need to live life “on the grid.” Amenities include co-working spaces, multiple fitness areas, outdoor grilling space and courtyard with a fire pit lounge, a pet-friendly bark park and pet spa, coffee and tea bar, resident lounge, bike parking and storage, and more.
This property is Milhaus’ first Qualified Opportunity Zone Investment in the US. Created by the 2017 Tax Cuts and Jobs Act, Qualified Opportunity Zones are designed to spur economic development and job creation in distressed communities by providing benefits to investors who invest eligible capital into these communities.
“We love Indianapolis. We’re proud to call the city our home, and the opportunity to invest in the Market East District was a no-brainer,” said Brad Vogelsmeier, Vice President of Development for Milhaus. “Our main goal when investing in properties is to form partnerships within the local community to revitalize and enhance what is already there. We want to bring people back to cities’ urban cores and highlight what makes them so great to live in. With Grid, we were able to invest in a community that was primed for new opportunities while strengthening our partnerships with local partners here in Indy.”
Milhaus is focused on designing unique projects that complement and blend within existing neighborhoods. Not only was Grid’s prominent location in the Cole Noble Neighborhood inspiration for the name, but it was also an opportunity for Milhaus to work in a public art piece on the northwest corner of the building’s exterior as an amenity to the entire neighborhood and to highlight the talent of a rising local artist.
Local artist Jackie Head drew inspiration from the same source that inspired Grid: “Indianapolis was founded in 1820 and originally plotted on a grid structure, known as the ‘The Mile Square,’ by surveyors Alexander Ralston and Elias Pym Foundham. I wanted to take this original grid and combine it with other sources of inspiration relating to my Hoosier background.”
Studio, one and two-bedroom units are available for pre-leasing, ranging from 395 to 1,240 square feet. Milhaus partnered with KTGY Architecture + Planning; Civil & Environmental Consultants, Inc. (CEC); and DkGr to develop this property.
Founded in 2010, Milhaus targets midsize cities with populations between 750,000 and 2 million people. The company’s current portfolio includes over 20 properties in eight states and nearly 4,200 units. This is the ninth Milhaus development in Indianapolis. For more information, please visit gridindy.com. For more on Milhaus, visit www.milhaus.com
ABOUT MILHAUS: Milhaus is an award-winning, mixed-use development, construction and property management company that specializes in Class A, urban, multifamily residential buildings. Headquartered in Indianapolis, Milhaus is comprised of inspired and industrious individuals who are passionate about the development of mixed-use and multifamily communities. Milhaus provides exceptional customer experiences and creates solutions for neighborhoods that positively impact communities by providing unparalleled expertise in real estate, investment, development, construction and property management. For more information, visit www.milhaus.com