PROPOSED DEVELOPMENT - ESPERO INDIANAPOLIS
2460, 2502, 2514, 2520, 2524 N Delaware St & 164 E 25th St
Vecino Group, a national developer with residential communities in 14 states and headquartered in Missouri, has proposed a new construction development on the northwest and southwest corners of the intersection of E 25th St. and N Delaware St. This proposal is in the development stages and has not yet received appropriate permitting or HOA approvals. No renderings are yet available for the project.
The project, to be called Espero Indianapolis, is proposed to include 40 residential units, all set aside as Supportive Housing for the Long Term Homeless. In November 2021, Vecino Group was awarded tax credits from the Indiana Housing & Community Development Authority to support this housing type.
KNOWN PROJECT DETAILS (as of 3/27/22)
All 40 units are 1BR / 1BA
Total project cost is estimated at $12.4M
Bradley Company is proposed to provide site management with a 24/7 on site staff presence (link to https://www.bradleyco.com/offices/indianapolis/)
Adult & Child Health is proposed to provide case management services to residents with 2 on-site staff assigned to Espero (link to https://adultandchild.org/)
The tenant selection plan has not yet been finalized but they are legally required to exclude sex offenders and methamphetamine users, and residents' income will also have to be below set thresholds
One of the subject parcels, 2460 N Delaware St, is a member of the Fall Creek Place Homeowners' Association (HOA) and all covenants and restrictions apply
Vecino Group will have to apply for design review to the HOA Design Review Committee for any portion of the project at 2460 N Delaware
Based on preliminary feedback from the Department of Metropolitan Developer in late February, the project is currently being redesigned
Petitions to the city for rezoning and/or variances on the associated parcels are likely, though nothing has been filed to date. Updates on this process will be communicated to the neighborhood. Feedback from all Fall Creek Place residents to the HOA is strongly encouraged and will inform the HOA stance in any public forum.
Residents can email the HOA at fallcreekplace@gmail.com and the City-County Councilor for this site, Vop Osili, at Vop.Osili@indy.gov