Southeast Neighborhood Development (SEND) is seeking a partner to help it redevelop a historic building in Fountain Square of Indianapolis, Indiana. The building houses the community development corporation’s headquarters, in addition to 36 apartments.
The 1,000-square-foot units rent for $500 a month—a level too low to produce enough income to make costly repairs and well below market rate for the rejuvenated Fountain Square neighborhood.
A major renovation of the building could justify pushing rents perhaps to $800 or $900 per month, Smith said.
Southeast Neighborhood Development, Inc. (SEND) is a non-profit community development corporation created by neighbors to revitalize the near southeast side of Indianapolis, and to enhance the quality of life for its diverse spectrum of residents.
Since 1991, they’ve invested more than $35 million in development projects in our community while improving housing, attracting business and investment, fostering education, sponsoring unique events, and helping spread the word about all the good things going on in the neighborhood.
INTERESTED PARTY REGISTRATION DEADLINE: Monday, March 13, 2017, 5:00pm EST
WHEELER BLOCK BUILDINGS INSPECTION DATE: Monday, March 27, 2017
RFP QUESTION SUBMISSION DEADLINE: Monday, May 1, 2017, 5:00pm EST
PROPOSAL SUBMISSION DEADLINE: Monday, May 15, 2017, 5:00pm EST
AWARD ANNOUNCEMENT: July 31, 2017
See Indianapolis Business Journal article by Scott Olson & photo credit.