103 apartment units planned on East Market Street

Note: This posting corrects an error in street address in the April edition of Urban Times

A major residential development featuring 103 residential units in a six-level building is planned for the 1100 block of East Market Street in Holy Cross.

The parcel, mostly a surface parking lot, was part of the Angie’s List complex until that firm collapsed in 2017.

The project is being advanced by 1820 Ventures, headed by former Milhaus executive Jeremy Stephenson – and is the first step in a larger redevelopment plan for the area known as Elevator Hill.

Stephenson said he hopes to break ground on the $16 million project in late summer. The project would feature 36 studio apartments, 47 one-bedroom units and 20 two-bedroom units, along with a courtyard center and parking on lower levels.

The project is being welcomed by the Holy Cross Neighborhood Association. Tim O’Sullivan, the Association’s Land Use Committee chair, said extra attention is being paid because the former Angie’s List campus is a prominent gateway into the neighborhood.

“As the first phase of redevelopment of the area, it was important to us that this building set the tone for what is to come,” O’Sullivan said. After several meetings with the developer’s design team, he said, “we have a building that balances increased density while still being responsive to the character of Holy Cross. 

“It was refreshing to work with Jeremy at 1820 and his team as they look for their projects to become part of the fabric of the Holy Cross neighborhood.  We welcome that level of interaction and involvement and look forward to what the future holds.”

Stephenson indicated there is, indeed, more in the future. His firm is working with owners of the former Angie’s List properties – a list headed by former Angie’s List CEO Bill Oesterle – to fully activate the properties.

 “The basic premise here is to try to create a new feel for Elevator Hill campus and in the Holy Cross neighborhood,” Stephenson told the media. “There’s an opportunity to do a lot of different things on the site.” While no specifics were available, he said efforts go beyond multi-family developments such as the yet-to-be-named Market Street project.

To date, the most significant redevelopment of Angie’s List properties is the Ball State University College of Architecture and Planning, with its Indianapolis campus now headquartered in a building on the western edge of the 18-acre area formerly owned by Angie’s List. Several small businesses have located in the various buildings, including Circle Kombucha and most recently Futuro pizzeria.

The historic firehouse on East Washington Street, former long-time home of Firehouse Photo, is now being used as a substation for the Indianapolis Metropolitan Fire Department.

RENDERING ABOVE: The residential project would sit in the 1100 block of East Market Street.