An Indianapolis developer plans to build a mixed-use apartment complex with more than 300 units along the Monon Trail in midtown.
The city gave preliminary approval Oct. 23 to a five-story development at the corner of 46th Street and the Monon that will include nearly 320 units and 6,900 square feet of retail space. The complex would sit right across the street from another large new apartment building, Monon 46, which opened in late 2023.
To build the new housing, Arrow Street Development plans to demolish about a half-dozen buildings including multiple old single-family homes and commercial structures. The site, centered on a building at 1106 E. 46th St., was formerly home to the Broad Ripple Business Park and the headquarters for the Indianapolis Tradesman Guild.
The Metropolitan Development Commission hearing examiner approved an initial rezoning plan for the property Thursday. The proposal must still be approved by the full MDC on Nov. 19 and the Indianapolis City-County Council in the coming months.
City planning staff supported the development because it will add density and businesses to a burgeoning section of the Monon Trail just south of Broad Ripple. The developer also agreed to pay for a new IndyGo bus stop, safety upgrades at the trail’s 46th Street pedestrian crossing and a traffic study. The building will include more than 230 parking spaces.
Arrow Street is the same firm behind major new multi-family developments in downtown Indianapolis, including a controversial 12-story building along the Canal Walk and two large apartment complexes, Wesley Place and Hall Place, near the new Indiana University Health hospital campus. The 46th Street project will inject life into the Keystone-Monon neighborhood north of the Indiana State Fairgrounds, an attorney representing the developer said.
“This brings a mixed-use project, redeveloping what is mostly an industrial site and providing another opportunity to engage with the Monon Trail near 46th Street,” Barnes & Thornburg attorney Joseph Calderon said on behalf of Arrow Street.
Email Indianapolis City Hall Reporter Jordan Smith at JTsmith@gannett.com. Follow him on X: @jordantsmith09
This article originally appeared on Indianapolis Star: 300-unit apartment complex along Monon Trail in midtown Indy moves forward
Reporting by Jordan Smith, Indianapolis Star / Indianapolis Star
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