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: 2 
  • Year Built: 1969 

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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-