Project Profile

Wesmont Apartments

  • Photo courtesy of WesmontApartments.com

106

Jobs Created

$1,782,561

Tax Impact

$4,484,852

Income Generated

$6,092,553

GDP Added

$11,928,507

Output Generated

Wesmont Apartments, located in Indianapolis, Indiana, was originally a 19th and 20th century industrial site before being repurposed into a modern apartment community. The 4-acre brownfield previously housed a lumber yard, a steam sawmill, and the Polk Sanitary Milk Company (Polk’s Dairy), which operated from 1910 to the 1950s before transitioning to a coal and cement supplier and later serving as the Indianapolis Public Schools (IPS) Facilities Maintenance Department headquarters. By the late 20th century, the site had become contaminated and largely abandoned. Now remediated and repurposed, it serves as a 188-unit workforce housing development, preserving its historic character while incorporating modern industrial design elements that reflect the site’s manufacturing past. Completed in 2021, the project includes a clubhouse, fitness center, pool, outdoor grilling stations, and direct access to the Monon Trail greenway. Over 90% of the apartments are income-restricted, ensuring affordability for low- and moderate-income residents. Through the Indiana Industrial Recovery Tax Credit, Wesmont supports the growth and well-being of the Indianapolis community, transforming a long-neglected industrial site into a thriving residential hub while honoring local culture with its name tribute to legendary jazz guitarist Wes Montgomery.

Tax Credit Type:
State
Address:

1515 Lewis St
Indianapolis, Indiana 46202

Contact us for more information about impact investing, federal and state tax credits.