Muncie, Indiana — Plans are underway to build a 276-unit apartment community with a pool and other amenities on Tillotson Avenue and Memorial Drive on the south side of the city.
The development is located south and east of the Speedway and Dollar General Store on the southeast corner of the intersection and has 10 multi-family units, according to a schematic provided by the Muncie Redevelopment Commission on Thursday.
Mayor Dan Leidener told the commission that the developer, Horizon Companies of Atlanta, Georgia, asked the Muncie City Council in January to request a five-year tax break on the $55 million development. After a year of relief, the apartment is expected to bring in $1 million in annual property tax revenue.
The development, tentatively called Tillotson Commons, is located north of a planned new urban park now called Till Pond, which features fishing ponds and walking trails.
Leidener told StarPress that he scaled up the apartment community after an Atlanta company told him of his plans to create a park.
Tillotson Commons will be a mix of market-value housing and social housing for working people on a 12.5-acre site. We offer units from 1 to 4 bedrooms. Raidenor said the outdoor pool and clubhouse planned for the community are uncommon amenities in developments on the south side of the city.
The new homes are expected to help meet demand from a new factory set to open next year in the industrial park area along Cowan Road. In recent years, Delaware County has converted a former middle school along Tillotson south of the proposed apartment site into the county jail and courthouse, the Delaware County Judiciary Center.
Recent development projects on the south side included transforming the Southway Plaza shopping center into a medical and retail center called Market on Madison. Leidenor told the commission that the city has begun demolishing the parking lot to develop green space, including new trees and a central pond.
Riverbend Flats, an affordable housing development on Memorial and Burlington Drives, is also being built in southwest Muncie, with plans underway to build a hotel on the west side of the Muncie Bypass on land currently owned by the Model Aeronautical Academy. It’s inside. .
The mayor said the most important public incentive proposed for Tillotson Commons is a five-year tax break.