Projects Developed

Smallwood Plaza,   Bloomington, IN  

Polaris acquired and developed a complicated two acre urban site in Bloomington, Indiana creating a $60M 8-story mixed use facility containing 229 units, 704 bedrooms, and 30,000 square feet of retail with 3 decks of  structured parking.  This project was undertaken in February of 2002, underwent a lengthy rezoning process.  In December of 2002, the site was acquired and construction began. The project opened for occupancy in August 2004 and is currently 100% leased.

Summerwood Apartments,   Indianapolis, IN   

Polaris acquired Summerwood Apartments in 2003. At acquisition the project was 50% leased it is currently leased at 94%.The project is located  on 86^th Street and Town Line Road in Indianapolis. The $26.5 million project was financed by Western & Southern Life Insurance Company.

Richelieu Aprtments,   Indianapolis, IN   

Polaris acquired the Richelieu Apartment Building, a 63 unit existing apartment building located on the north side on Indianapolis. Richelieu is a historic property that is underwent a total renovation. Since the renovation rents have increased by over 20%.

Overlook at Valley Ridge,   Indianapolis, IN   

Polaris acquired and developed Overlook at Valley Ridge. The 38 acre mixed use parcel contains 300 garden style apartment units, 43,000 square feet of retail and 10,000 square feet of office. The apartment phase of the project commenced construction in summer 2004 and was completed in the fall of 2005. Occupancy is currently 92%. The retail portion of the project is anticipated to commence in Spring of 2009.