Near Eastside Neighborhood Overview

The neighborhood's revitalization efforts have attracted both homeowners and investors. The combination of affordable housing prices and the area's upward trajectory suggests promising long-term value appreciation. The Near Eastside of Indianapolis presents a compelling mix of historic character and modern development, offering diverse housing options and a vibrant community atmosphere.

  Major Employers

Community Hospital East: Located within the Near Eastside, this hospital is part of the Community Health Network and serves as a significant healthcare provider and employer in the region.

Eli Lilly and Company: A global pharmaceutical firm headquartered in Indianapolis, Eli Lilly is one of the city's largest private employers, with a workforce of approximately 11,000 in research and development, manufacturing, and executive administration.

Indiana University Health: As the state's largest healthcare system, IU Health employs around 36,000 individuals across 16 hospitals, including facilities accessible to Near Eastside residents.

Cummins Inc.: While headquartered in Columbus, Indiana, Cummins has a significant presence in Indianapolis, including its Global Distribution Business unit in downtown Indianapolis.

Amazon: The company operates multiple fulfillment centers in the Indianapolis area, employing approximately 9,000 workers, with facilities accessible to residents of the Near Eastside.

Major Developments

Elevator Hill: Formerly the Angie’s List campus, Elevator Hill is a 13.5-acre property undergoing a comprehensive redevelopment. The project, led by 1820 Ventures, is expected to span over a decade with an estimated investment of up to $250 million. Plans include up to 375,000 square feet of office space, new neighborhood retail amenities, up to 500 units of multifamily housing, more than 20 units of single-family housing, and parking garages with at least 1,500 spaces. Extensive street improvements are also part of the project, aiming to create a premier mixed-use district similar to Bottleworks.

Ford Building Redevelopment: The historic Ford Building at 1315 E. Washington St., once an automobile assembly plant, is undergoing redevelopment. The project focuses on providing affordable housing, with apartments priced below Marion County’s standard market rate. Additionally, a proposed six-story mixed-use project adjacent to the Ford Building aims to include retail or office space on the ground level with residential units above, contributing to the area's revitalization.

St. Lucas Lofts: Located at the corner of New York Street and Rural Street, St. Lucas Lofts is a 48-unit affordable housing complex. Of these units, 38 are designated for individuals earning between 30% and 60% of the area median income, while the remaining 10 units are reserved for youth experiencing homelessness. The project, supported by a $2 million investment from the city and a $10 million investment from CVS Health, is expected to be completed in early 2024.

Infrastructure Improvements: The City of Indianapolis, in collaboration with Near East Area Renewal (NEAR), is undertaking major infrastructure projects to enhance the neighborhood's connectivity and safety:

10th & Rural Streetscaping: A redesign of 10th Street and Rural Street aims to make these major corridors safer and more appealing for both vehicular and pedestrian traffic. Construction is slated for 2023-24.

Two-Way Conversion of Michigan & New York Streets: Both streets are being converted to two-way traffic with a "complete streets" design to improve safety for all users. The conversion is planned for 2023.

Pogue’s Run Trail Completion: The multi-use path will extend from 10th Street through Spades Park and Brookside Park, exiting at the Pogue’s Run Arts & Nature Park on 21st Street. Completion is anticipated by the end of 2023.

These developments collectively aim to transform the Near Eastside into a vibrant, inclusive, and economically thriving community, enhancing the quality of life for current and future residents.