Several new projects in Broad Ripple promise to change the area—and home values
Six construction projects in and around Broad Ripple promise to be among some of the most visible and impactful in thirty years.
While the current construction in Broad Ripple is a nuisance, these new developments could give home values a major boost in the coming years.
1. Broad Ripple Avenue reconstruction
Construction started in March 2022
Drains and the systems that carry water away after a storm are probably the most boring but critical elements of a city. Anyone who has walked along a sidewalk or driven through a standing puddle knows how dangerous and irritating they are when drains fail.
Broad Ripple Avenue’s drainage situation is being improved. The City of Indianapolis is taking steps to widen the sidewalks, improve lighting, and develop initial components to the Riverwalk project while they’re at it.
Construction is being done in phases and is expected to be complete by the Fall of 2022.
2. Central Avenue bridge restoration over the canal
Construction started in April 2022
The decking and structure of the Central Avenue bridge, just one block north of Broad Ripple Avenue by Hopcat and Chase Bank, is being fixed and replaced. While they’re at it, crews are widening the sidewalk over the bridge. The existing sidewalk was almost non-existent for anyone in a wheelchair or pushing a stroller.
Like the work on Broad Ripple Avenue, construction is expected to finish in Fall 2022.
3. Two new mixed-use buildings on College and 62nd
Construction began in Spring 2022
Two new four-story tall buildings have begun to pop up on College just south of Broad Ripple Ave. They’re among the first new buildings to bring new development after the Red Line formally opened in 2019.
One is a four-story structure with 21,000 square feet of office space and 36 apartments. The other is five stories and includes just under 70,000 square feet of office space. An IT and life sciences business has already committed to the spaces.
These, in addition to the new apartment buildings in Broad Ripple, are highly visible and have started to change the skyline of the Village.
Neighborhoods and cities live, thrive, and grow based on how many people show up to the area. More workers and people living closer to each other induce more demand, which increases density (and reduces carbon footprints through shorter commutes, improved transit efficiency, and reduced heating and cooling costs).
Increased density leads to higher home values, especially if the housing options don’t keep up with the demand. It might not seem like apartments or office space would do much for home values, but they’re vital.
Some units in the apartments as part of this project are designated as ‘workforce housing’, designed for people whose annual income is 80% of the area median income. That’s about $77,000 in 2020.
4. Broad Ripple Riverwalk
Despite the White River being among the largest rivers in Indiana and moving right through Indianapolis and Broad Ripple, there are few uses of the river as park space. The Downtown Canal, parts of the Central Canal Towpath, and the remnants of the canal development in Broad Ripple are all born from the Indiana Mammoth Internal Improvements Act of 1836. The State of Indiana began developing canals before a recession, then ran out of money, and the work never finished. Still, few spots along the disconnected canals and White River exist for so much as a picnic.
That’s changing with the Broad Ripple Riverwalk. Connecting from the Monon Trail and heading east along Broad Ripple Avenue, in front of the former Broad Ripple High School, the Riverwalk will connect scenic overlooks to pocket parks and the broader Broad Ripple Park.
Expect it to be a trail and less a boardwalk like you might find at the beach. There won’t be sand, but it will be a way for pedestrians and bicyclists to move west from the Monon toward the Ravenswood, Dawnbury, and Glendale neighborhoods. Riders and walkers can already move east thanks to the Canal Towpath toward Warfleigh and Spring Mill Heights. The Riverwalk will connect the green space at all points around Broad Ripple.
In a fun twist, the Riverwalk and Broad Ripple Park harken back to the 1890s when Broad Ripple was an amusement park and vacation destination with demonstrations, shows, boat rides, and fresh air for people living “south in Indianapolis”. In 1925, a broad promenade and pavilion near Broad Ripple Amusement Park was among the largest in the United States.
5. The new Family Center at Broad Ripple Park
Construction started in Summer 2021
Broad Ripple Park is a bit of an oddity. The park has 10 acres of wooded trails and nature preserved in an otherwise inconspicuous spot just off Broad Ripple Avenue and moving north toward 75th Street along the Monon Trail. But because much of the wooded area is inaccessible from the Monon, it’s easy to miss unless you know to look for it.
The Park also includes tennis courts, a pool, and gardens. The new Family Center brings double the space and opportunities for nutrition and wellness classes. Art and gardening classes are great for the kids, too.
The Family Center is located along the new Riverwalk. You can find more about it and the Park’s Master Plan at http://www.broadrippleparkmasterplan.com.
6. A wider Monon Trail
Construction began at the southern end in March 2022
The Monon Trail is getting wider in 2022 with about four extra feet of space from Broad Ripple heading south. That doesn’t sound like much, but it’s about double the width of the existing trail.
The benefit is a smoother ride for cyclists tired of bumping over parts where the pavement has buckled or shifted. And it’s a boon for people who found it challenging to navigate with so many people, dogs, strollers, and bikes at some of the busiest stretches in SoBro and Broad Ripple and areas near 16th and 10th Streets closer to Downtown.
The City’s construction process involves closing the trail, and the detours are cumbersome since nothing like the Monon exists nearby.
Construction is expected to be done on the southern chunk later this summer, from about 16th to 38th street. The Broad Ripple segment is coming later this year or early 2023. The small section from 16th south to 10th street is being done separately by INDOT as part of the North Split reconstruction work.
When it’s all done, it’ll be the first time in 30 years the Monon has been repaved. That’s a pretty good ROI when you consider homes along and near the Monon have higher average resale values than comparable homes not along the trail.
Broad Ripple is one of the neighborhoods I know best in Indy. If you’re looking to buy or sell a home in the Broad Ripple area, let’s talk!
