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Old 08-20-2009, 01:56 PM
 
2 posts, read 5,513 times
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Default revitalized neighborhoods?

Hello,

My husband and I are moving to Indy with new baby, looking for a house under $100,000 (although we may be able to go up to $125,000). We can't stand vinyl village, treeless neighborhoods and have been looking at either the west side or downtown.

I keep looking for information on revitalized neighborhoods near downtown, but have not come up with much. Do you know of any that look like they are on the upswing and affordable to buy in right now?

So far, we've come up with houses in Mapleton-Fall Creek area, but from other threads I have my doubts about that area.

Schools are not an issue. If we are in a bad school district, we'll do private or homeschooling.

Are there any neighborhoods that are particularly neighborly? We'd like to get to know the people who live on our street.

Any help is appreciated,
Heidi
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Old 08-20-2009, 02:00 PM
 
Location: 46201
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Fountain Square is still affordable, and my neighbors are neighborly; well, some of them are.

Bates-Hendricks is nearby, there are some gems in there; as well as abandonment.
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Old 08-20-2009, 05:23 PM
 
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Southeast Neighborhood Development (http://www.sendcdc.org/hrforsale.html - broken link)

Clicked the wrong button. Consider checking with the various neighborhood development groups in Indy. There are quite a few. They will often have special programs to assist with affordable housing. I listed one above.

Fountain Square is being revitalized, South Broad Ripple is working on it. Irvington has its historic designation and some new commercial development.

You have a baby. What are you considering for schooling since that is often the most important item for a family looking for permanent housing. No more should you expect to buy and quickly make a profit. Indpls Public Schools causes many families great concern and the enrollment has significantly dropped. Most (not all) families do not want to live in IPS. All the neighborhoods mentioned are in IPS.
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Old 08-21-2009, 10:20 PM
 
Location: Western Hoosierland
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Butler-Tarkington has some nice decent homes with neighborhoods filled with trees. Not sure about prices though.
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Old 08-22-2009, 04:21 AM
 
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Butler Tarkington is way out of league and as with Meridian Kessler, you would be hit with high property taxes. Even the small houses around Butler University are higher priced due to the landlord/student issues.

It is always possible to find a dump south around 38th, but it would need lots of work and money. And I am very unsure if one could get in for that price.

Fountain Square and environs may be a good area for that price, schooling considered.
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Old 08-22-2009, 04:36 AM
 
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Go to MIBOR | Metropolitan Indianapolis Board of REALTORSĀ® and under search for house input number 2938138. It may be sold but it is one of the houses in Fountain Square. A lot of renovators and young buyers have improved houses. It is still in the process of gentrification. Even some of the historic commercial corner buildings are being stabilized and saved by the neighborhood groups.


Amazing that this farmhouse has a little land, trees and a pond for that price, 2922932.

A nice modernized Irvington ranch with landscaping. 2941515

I would drive by this address and check the neighborhood, another maintained and remodeled one in that price range. 2940350

There were 16 pages of houses in your price range just in Irvington. A good realtor would be able to help you screen locations.

So much depends on your wants and needs.
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Old 08-22-2009, 01:53 PM
 
Location: Hither and thither
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OP made it pretty clear that schools are not an issue, so I'm not sure why people are so fixated on Indianapolis Public Schools. I'm happy to recommend urban neighborhoods that feed into IPS because that's what the OP seems to value:

Old Northside - pretty much completely gentrified these days, though there are still a few fixer-uppers. Classy victorian homes but not (yet) a lot of retail close by. I think 16th Street will fill out in years to come.

Herron Morton Place - nowhere near as far along as Old Northside but still pretty attractive; close to some growing commercial strips at 22nd street (and 16th street to the south). Still a little dodgy but definitely on the upswing. Also a lot of vacant lots that are just dying to be filled with homes that fit the existing architectural character.

Lockerbie Place - fully revitalized and probably the highest per square foot costs in the city. Very conveniently located.

St. Joseph - brick and rowhouse architecture (rare in Indy) dominates this neighborhood. Mostly gentrified but still a few areas redeveloping, this could take off in the next years. Dominated by gay renovators.

Chatham Arch - a cross between Lockerbie and St. Joseph, very close to nightlife and shopping, mostly gentrified already. Also large gay population.

Fall Creek Place - a private public partnership has completely redeveloped this area and made it very attractive, though the neighborhoods all around it are generally rough.

Fountain Square - like someone else said, it's revitalizing. The retail is farther along than the housing, and there's still some crime, but great architecture, and likely to be the next emerging nightlife area. Probably a good place to invest.

Garfield Park - south of fountain square and nowhere near as far along. Probably not revitalizing by many people's standards, but I don't think it's going to decline further. In ten or fifteen years, it should be where Fountain Square is today. The park is a great amenity.

Bates-Hendricks - about the same stage of revitalization at Fountain Square but with less retail. Nice houses, still pretty rough in parts.

Ransom Place - the historic African American neighborhood, a very mixed bag but generally solid and attractive houses in good repair, some better than others. Fayette Street is a bit separate from the rest of the hood but is the most attractive.

Cottage Home - Cute homes similar in style to Chatham Arch but nowhere as far along in revitalization stages. Still, it's headed upwards and could be a great place to reinvest. Close to the Monon Trail and shopping, but separated unfortunately by the interstate.

Fletcher Place - old Italian neighborhood (I think), that is farther along in revitalization than Fountain Square nearby: homes are generally more moneyed but there's less retail. Also popular for gay renovators I believe.

Holy Cross - very hit or miss neighborhood due it its proximity to rough areas on the Eastside, but I think it's on the upswing. Could be a great place in another ten years but safety is a concern.

Woodruff Place - probably the most attractive hood on the east side and generally in very good shape, but close to horrible neighborhoods and the prison prevents it from reaching its full potential. Still a great area with a lot of history.

And...farther away from downtown but still very urban:

Butler Tarkington - the northern part of this neighborhood (close to Butler U) never really declined and is still posh. The southern part is somewhat struggling but could be a great place because I don't think it's declining any further.

Meridian Kessler - though it has a few shady parts, this is generally the premier area for old urban money. Some fixer-uppers but mostly already fully posh and some areas have never declined.

Irvington - probably the most solid neighborhood on the east side with some good local businesses as well. Very attractive and a mix of housing styles...may struggle because the East Side has such a poor reputation but I don't think the hood itself is in danger of declining.

Truth be told, the west side would be the hardest side to find any good revitalizing neighborhoods. It's mostly working class to this day. Hawthorne is the closest to a little Mexico; Haughville is a very dangerous African American neighborhood (though not as bad as in the past) and Stringtown is white working class with some attempts at gentrification that haven't really taken off. South, East, and Northsides are your best bets.

Hope that was thorough enough for you!
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Old 08-22-2009, 02:18 PM
 
Location: Fishers, IN
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If the OP is considering the west side, why not look at Speedway? It has nice older areas with well-kept bungalows, and the redevelopment plans there hold some promise. And, the schools are decent.
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Old 08-24-2009, 11:00 AM
 
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Thank you for the info. This is all very helpful. We are considering a house in Meridian Park (between Children's Museum and Fall Creek-Mapleton), but want to do some more driving around the area. It's a great buy, but we're not sure.

What are the redevelopment plans for Speedway?
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Old 08-24-2009, 11:27 AM
 
Location: Fishers, IN
5,655 posts, read 6,099,465 times
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Quote:
Originally Posted by bayly View Post
Thank you for the info. This is all very helpful. We are considering a house in Meridian Park (between Children's Museum and Fall Creek-Mapleton), but want to do some more driving around the area. It's a great buy, but we're not sure.

What are the redevelopment plans for Speedway?
Here you go: Speedway Redevelopment Commission
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