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INDIANAPOLIS — The Annex Group has broken ground on Central at Old Southside, a 227-unit affordable housing community in Indianapolis. The development team behind the $71 million project includes BVH Architecture, nonprofit partner Impact Housing Indiana, permanent lender Merchants Capital and Bank of America, serving as investor and construction lender.
Central at Old Southside is situated on approximately 6 acres and will comprise one-, two- and three-bedroom units reserved for households earning between 50 and 60 percent of the area median income (AMI). Amenities for Central at Old Southside will include community, fitness and business centers, a dog park, garden, playground and picnic area. A completion date was not disclosed.