JLL is currently promoting the sale of Wesley Place, a brand new apartment complex consisting of 244 units. Located just north of downtown Indianapolis, the property borders the Indiana University Health Campus and was completed in 2023. The apartments range from studios to two-bedroom units and offer a variety of amenities.
Wesley Place stands out as the only luxury building in its area, which is undergoing significant transformation due to a $4.3 billion investment by IU Health Campus (IUHC). This makes it one of the largest healthcare projects in the country at present. As proof of its appeal, Wesley Place has already leased out 91% during its lease-up period.
The location also adds to its value as it is within walking distance (less than 10 minutes) from all new medical buildings on IUHC’s state-of-the-art campus spanning over 44 acres. Additionally, it takes only six minutes by car or red line bus ride to reach downtown Indianapolis from Wesley Place.
Moreover, with affordable housing being an important aspect for many communities today, this property offers 10% affordable units that qualify for tax abatement benefits and mission-driven agency financing savings. Currently available below replacement cost and without any existing debt obligations make this an attractive opportunity for potential buyers looking into luxury apartments market.
