School 80 Lofts

Broadripple in Indianapolis, Indiana

When IPS closed schools throughout Indianapolis, School 80 in Broad Ripple was the most prized property because of the high demand for chic housing in this perennial yuppy district. Prince|Alexander was hired by the bank who took the project away from the developer. Originally intended for sale as 38 condominiums with purchasers benefiting from historic tax credits, the developer rapidly got into trouble over building the first 6 units spending 70% of the loan funds. In addition, he openly defied historic preservation requirements and lost the tax credits which were sold, creating other issues. Prince|Alexander�s assignment was to redesign the remaining 32 units to be built with only 30% of the funds originally intended. We served as the architect and construction manager to successfully complete the project. In fact, so successfully that the project completely leased out in 90 days and has remained full ever since completion. It is now a landmark for residents in the neighborhood.