Meadowlark Apartments

Project Details

  • Property Location:
    Indianapolis, Indiana
  • Acquisition Date: December 14, 2012 
  • Purchase Price: $15,000,000 
  • Renovation Costs:
    $14,226,717 ($39,519 per unit) 
  • Number of Units: 360 
  • Number of Buildings: 50 
  • Number of Stories:
  • Year Built: 1969 

Unit Interior Renovations 

  • Carpet and vinyl plank flooring, and base trim; 
  • Drywall repairs and paint; 
  • Interior doors, casings, and hardware; 
  • Energy Star exterior doors, sliders, and windows; sills; 
  • Closet doors and wire shelving; 
  • Kitchen cabinets and countertops; sinks, disposals, and low-flow faucets; 
  • Energy Star appliances and range hoods; 
  • Bathroom vanity cabinet/sinks, mirrors, lighting, exhaust fans, low-flow toilets, bath valves/fixtures, faucets/hardware; new tubs and FRP surrounds; 
  • Laundry connections, complete lighting package, smoke detectors, high-efficiency HVAC units and furnaces, programmable thermostats; 
  • Energy Star water heaters; 
  • Attic insulation to R-38 rating; and, 
  • 5% of units are now fully accessible, and 2% are modified for hearing and visually impaired. 

Building Envelope and Exterior Renovations 

  • New roofs (full tear off); 
  • Siding repair and masonry tuck-pointing; and, 
  • An extensive program of mold remediation, and pre/post environmental testing. 

Site Improvements 

  • Leasing office, maintenance area, and community building; 
  • Asphalt parking lots overlayed and striped; 
  • Concrete repairs on patios, walkways, curbs, and ramps, including accessibility upgrades; 
  • Landscaping and tree trimming; 
  • Dumpster enclosures; 
  • Multi-purpose sport court; 
  • Picnic/gazebo area, edging/play chips in the playground area, and extensive decorative/security perimeter fencing; and, 
  • 33-camera, remotely-