INDIANAPOLIS, IN - Locally headquartered Birge & Held today announces the debut of its newest property, West Village of Avondale Meadows (“Meadows”), a new-build, affordable housing development on the northeast side of Indianapolis.
Located at 4115 Meadows Drive, the property features 216 one-, two- and three-bedroom affordable units across six buildings, reserved for residents earning between $40,620 and $67,320 per year. Within the 216 total units at Meadows, 72 are one-bedroom floor plans, 84 are two-bedroom and 60 units are three-bedroom. In addition to modern and open layouts, all apartments will feature new appliances, including an in-unit washer and dryer.
The property will also offer residents access to community amenities, including a clubhouse with a community room, exercise room, TVs and billiards.
“We are proud to announce the much-anticipated debut of Meadows Apartments, another property that fulfills our mission of enhancing lives by transforming communities,” said Tag Birge, CEO of Birge & Held. “There is an ongoing need for affordable housing in Indianapolis and across the country. We look forward to building stronger communities and increasing access to these much-needed housing solutions as we continue to expand our affordable housing business line.”
Birge & Held received Low-Income Housing Tax Credit (LIHTC) funding from the U.S. Department of Housing and Urban Development (HUD) through the Indiana Housing and Community Development Authority (IHCDA) to support construction of the property. Strategic Capital Partners also served as a key partner in development.
“We are proud to invest in the Indianapolis community alongside Birge & Held,” said Will Zink, Senior Vice President of Construction and Development at Strategic Capital Partners. “We look forward to seeing the growth and opportunity Meadows brings to the community as an affordable housing option.”
Preleasing for Meadows is slated to begin in August 2023.
About Birge & Held: Birge & Held brings a fresh dynamic to private equity real estate investment, management, and construction. Headquartered in Indianapolis, Indiana, the firm specializes in multifamily commercial real estate in 13 states nationwide. Birge & Held’s full-service approach combines robust analysis, aggressive agility, and innovation by drawing on decades of expertise. Recognized as Property Management Company of the Year multiple times by the Midwest Multifamily Conference (MMC), Birge & Held has acquired over 25,000 units and currently manages more than $4 billion in assets. To learn more, visit www.birgeandheld.com