From the Indianapolis Business Journal:
The redevelopment of a key stretch of Massachusetts Avenue is expected to commence in the fall now that developers have won approval to sell tax credits to finance the project.
A partnership of Flaherty & Collins Properties and Insight Development Corp. earlier this month was awarded rental housing tax credits by the state that will be sold to finance construction of a 61-unit, $11.5 million apartment project at 555 Massachusetts Ave. The project is to include 5,000 square feet of retail space facing Massachusetts.
The site is now green space and parking that wraps around the Barton Tower apartments, a 21-story concrete structure built in 1967 that is operated by the Indianapolis Housing Agency.
http://www.ibj.com/rew-lead-story---template/PARAMS/article/33474
