$20M Monon16 Development Begins
INDIANAPOLIS - Indianapolis Mayor Joe Hogsett is touting a $20 million housing development in a neighborhood receiving renewed interest as "innovative and transformative." Plans for the Monon16 project call for 60 new, single-family houses in the Kennedy Park district near the Monon Trail. The city says the area hasn't received private investment or development in a century.
Twenty percent of the development, the city says, will be reserved for buyers with lower incomes. Hogsett adds "this is an area that has started to come alive after years of disinvestment. The Monon16 development will offer quality, safe and affordable housing for all, which is the foundation of a strong and sustainable neighborhood." He says the project is in-line with the city's commitment to "preserve affordable housing in our neighborhoods."
Construction is now underway between 16th Street and 21st Street near the Monon Trail and is expected to be complete in 2020. The mixed-use development is a collaboration among Indianapolis-based Re-Development Group, Texas-based David Weekley Homes, the city and King Park Development Corp.