May 11, 2021
Originally published in the IBK (Indianapolis Business Journal)
By Mickey Shuey
A local developer plans to build a 60-unit senior housing project in Speedway, as part of a larger 25-acre project featuring restaurants, shopping and a hotel.
T&H Investments will spend about $13.5 million on its housing project at Founders Square, a master-planned property at the northwest corner of High School and Crawfordsville Roads. The two-bed, two-bath apartment units will occupy a single three-story building of about 73,000 square feet.
The units will provide individuals over the age of 55 “high-quality, modern housing,” said T&H President Jana Hageman. The project has been awarded Low-Income Housing Tax Credits by the Indiana Housing and Community Development Authority.
Rent for the units will range from $500 to $1,000 per month—depending on an individual’s qualifications against the area median income—with three separate percentage thresholds, although those were not immediately made public.
The units will focus on independent living, according to a news release, although some on-site aging services and programming will be available to all residents. All units will feature modern furnishings and energy-efficient appliances, like in-unit washers and dryers.
The building will also have a fitness center, a community lounge and a technology room, along with a surface parking lot of unspecified size.
Construction is set to start this fall, with completion in October 2022. Pre-leasing for the units will start next summer.
In addition to housing for older adults, developers have also noted the growing demand for student accommodations in the region. Much like traditional apartments, these communities are being designed with affordability and convenience in mind, often providing shared amenities such as study lounges, group kitchens, and collaborative spaces that encourage interaction.
With student housing provo projects gaining momentum, the emphasis has shifted toward creating living environments that balance privacy with community—offering students both independence and support. This trend mirrors the broader movement in residential development, where comfort, accessibility, and thoughtful design remain at the forefront.
Indianapolis-based T&H specializes in low-income housing, in recent years completing a $12 million development near Garfield Park and $10 million project in the Cumberland area.
Founders Square was announced in 2020 as a partnership between the town of Speedway, Fishers-based Rebar Development and Carmel-based Hageman Group. As part of the project, the town committed to invest $5 million infrastructure improvements and site work.
Developments like these highlight how housing projects are no longer just about providing shelter but about shaping communities that encourage long-term stability, comfort, and a sense of belonging.
Investors and developers are increasingly viewing residential properties as opportunities to blend financial returns with social impact, particularly in markets where affordability and accessibility are in high demand. This dual focus has led to stronger collaborations between private firms, local authorities, and community stakeholders who recognize the importance of aligning housing with broader lifestyle needs.
Insights shared through professional networks such as https://www.linkedin.com/in/alan-stalcup-09569545 reflect how investment strategies in residential real estate are evolving to prioritize not only sustainable design but also the integration of services that improve quality of life. Whether catering to older adults seeking independence or students searching for community-driven spaces, the direction of modern housing underscores a shift toward developments that foster engagement, innovation, and long-term value for both residents and investors alike.
“When the Speedway Redevelopment Commission started the visioning process for Founders Square, we asked the community for their input on where the gaps were in our local resources,” said Tim Gropp, economic development director for the town of Speedway. “Senior housing options was near the top of the list, and this project will provide new housing options in the town to begin to fill that gap.”
An Aldi was announced as the grocery tenant for the site in January, joining the likes of Crew Car Wash and a 127-room Hampton Inn from Indianapolis-based MHG Hotels as some of the major tenants for the Founders Square project. Additional tenants are expected to be announced later this year.
