{"id":1004087449,"date":"2013-10-11T14:33:02","date_gmt":"2013-10-11T22:33:02","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=197091"},"modified":"2020-04-28T01:00:55","modified_gmt":"2020-04-28T09:00:55","slug":"deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/","title":{"rendered":"Deylen Realty to Develop $10M Apartment Community on Virginia Avenue in Indianapolis"},"content":{"rendered":"<p><!--[if gte mso 9]><xml><br \/>\n<o:OfficeDocumentSettings><br \/>\n<o:AllowPNG\/><br \/>\n<\/o:OfficeDocumentSettings><br \/>\n<\/xml><![endif]--><\/p>\n<p><!--[if gte mso 9]><xml><br \/>\n<w:WordDocument><br \/>\n<w:View>Normal<\/w:View><br \/>\n<w:Zoom>0<\/w:Zoom><br \/>\n<w:TrackMoves\/><br \/>\n<w:TrackFormatting\/><br \/>\n<w:HyphenationZone>21<\/w:HyphenationZone><br 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5.4pt;\n\tmso-para-margin-top:0cm;\n\tmso-para-margin-right:0cm;\n\tmso-para-margin-bottom:10.0pt;\n\tmso-para-margin-left:0cm;\n\tline-height:115%;\n\tmso-pagination:widow-orphan;\n\tfont-size:11.0pt;\n\tfont-family:\"Calibri\",\"sans-serif\";\n\tmso-ascii-font-family:Calibri;\n\tmso-ascii-theme-font:minor-latin;\n\tmso-hansi-font-family:Calibri;\n\tmso-hansi-theme-font:minor-latin;\n\tmso-fareast-language:EN-US;}\n<\/style>\n\n\n\n\n<p><![endif]--><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/The-Hinge-by-Deylen-Indianapolis.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-197092\" title=\"The Hinge by Deylen, Indianapolis\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/The-Hinge-by-Deylen-Indianapolis.jpg\" alt=\"\" width=\"300\" height=\"200\" \/><\/a>by Adriana Pop, Associate Editor <\/span><\/em><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Local developer Deylen Realty is planning the construction of a new apartment complex in the city\u2019s Fountain Square neighborhood southeast of downtown. According to the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.ibj.com\/developer-readies-second-virginia-avenue-residential-project\/PARAMS\/article\/43926\" target=\"_blank\" rel=\"nofollow\">Indianapolis Business Journal<\/a><\/em>, the $10 million project at 501 Virginia Avenue will replace a warehouse with 68 market-rate apartments, 9,900 square feet of retail space and a 104-space parking garage with 76 underground spaces. The facility is currently occupied by Impact Group Inc.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Deylen expects to break ground on the project at the beginning of 2014 and deliver the first homes by the spring of 2015. Rents will range between $850 for a studio and $2,000 for a luxury two-bedroom unit with a skyline view. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Blackline Studio is the architect of the new five-story building, which will be located between Milhaus Development\u2019s Mozzo apartments and the Villagio condos in Fletcher Place.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Deylen Realty is also the developer of the The Hinge (pictured), a $7.5 million apartment and retail complex at 719 Virginia Avenue, just a few blocks south of the site of the new development. The mixed-use building, <\/span><span lang=\"EN-US\">also designed by Blackline Studio, <\/span><span lang=\"EN-US\">opened in August 2012. The property offers 56 market-rate apartments, 12,000 square feet of commercial space, and a 57-space parking garage. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">In regional news, the <em style=\"mso-bidi-font-style: normal;\"><a href=\"https:\/\/www.ibj.com\/chicago-firm-building-spec-warehouse-in-plainfield\/PARAMS\/article\/43983\" target=\"_blank\" rel=\"nofollow\">Indianapolis Business Journal<\/a><\/em> reports that Chicago-based HSA Commercial Inc. has partnered with Boston-based Great Point Investors LLC to develop a 220,000-square-foot speculative warehouse on a 13-acre site southwest of the Indianapolis International Airport in Plainfield. Construction on the new building at Gateway Business Park is expected to begin this month. <\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">Chicago-based The PrivateBank is providing financing for the new development. Fishers, Ind.-based Meyer Najem will serve as the project\u2019s general contractor, and JRA Architects is the designer of the project.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">\u201cThere has been a lot of positive leasing activity with third-party logistics tenants in Indianapolis throughout the past couple years particularly in the Plainfield submarket,\u201d Robert Smietana, vice chairman and CEO of HSA Commercial said in a news release.<\/span><\/p>\n<p class=\"MsoNormal\"><span lang=\"EN-US\">The Indianapolis industrial market has seen the greatest amount of speculative development in the Midwest in recent years, according to a recent survey by Jones Lang LaSalle. HSA\u2019s project is the third of its kind in the area this year.<\/span><\/p>\n<p class=\"MsoNormal\"><em style=\"mso-bidi-font-style: normal;\"><span lang=\"EN-US\">Photo credits: www.deylen.com<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Local developer Deylen Realty is planning the construction of a new apartment complex in the city&rsquo;s Fountain Square neighborhood southeast of downtown. According to the Indianapolis Business Journal, the $10 million project at 501 Virginia Avenue will replace a warehouse with 68 market-rate apartments, 9,900 square feet of retail space and a 104-space parking garage with 76 underground spaces. The facility is currently occupied by Impact Group Inc.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1590,21742],"tags":[1815],"class_list":["post-1004087449","post","type-post","status-publish","format-standard","hentry","category-indianapolis","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Deylen Realty to Develop $10M Apartment Community on Virginia Avenue in Indianapolis - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deylen Realty to Develop $10M Apartment Community on Virginia Avenue in Indianapolis\" \/>\n<meta property=\"og:description\" content=\"Local developer Deylen Realty is planning the construction of a new apartment complex in the city&rsquo;s Fountain Square neighborhood southeast of downtown. According to the Indianapolis Business Journal, the $10 million project at 501 Virginia Avenue will replace a warehouse with 68 market-rate apartments, 9,900 square feet of retail space and a 104-space parking garage with 76 underground spaces. The facility is currently occupied by Impact Group Inc.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-11T22:33:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-28T09:00:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/The-Hinge-by-Deylen-Indianapolis.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/\",\"name\":\"Deylen Realty to Develop $10M Apartment Community on Virginia Avenue in Indianapolis - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/The-Hinge-by-Deylen-Indianapolis.jpg\",\"datePublished\":\"2013-10-11T22:33:02+00:00\",\"dateModified\":\"2020-04-28T09:00:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/#primaryimage\",\"url\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/The-Hinge-by-Deylen-Indianapolis.jpg\",\"contentUrl\":\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/10\/The-Hinge-by-Deylen-Indianapolis.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/deylen-realty-to-develop-10m-apartment-community-on-virginia-avenue-in-indianapolis\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Deylen Realty to Develop $10M Apartment Community on Virginia Avenue in Indianapolis\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad\",\"name\":\"Adriana Pop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91\",\"caption\":\"Adriana Pop\"},\"description\":\"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. 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