The Garrett Companies Delivers First of Two Multifamily Developments in Indy Suburbs

Distinctive luxury properties answer the community's growing housing needs

INDIANAPOLIS, July 11, 2023 /PRNewswire/ -- The Garrett Companies, a full-service real estate company specializing in multifamily investments, development, construction and property management, announced today the development of The Hangar and Oliver Springs, multifamily developments in the Greenwood, Indiana, community. The Hangar will open its first building to welcome new residents by mid-summer 2023. The Oliver Springs project is slated for completion in spring 2025.

"The Hangar at Emerson Pointe is nearing completion," said Eric Garrett, CEO of The Garrett Companies. "It's the first multifamily property of its kind on Indianapolis' south side. It's within walking distance of local eateries, only a few short miles from the Greenwood Park Mall retail corridor, and residents can reach the heart of downtown Indy in 15 minutes. We love the city of Greenwood — it's quite literally our headquarters — and we're incredibly gratified by this project and its role in meeting the growing housing needs of Johnson County and the city."

This luxury multifamily community includes three buildings totaling 218 units. The first building of 62 units was completed at the end of June, with residential units ready for occupancy in mid-July. The first building will also house Garrett Restaurant Group's first coffee shop, Runway 19, which is expected to open fall 2023. The aviation-themed Runway 19 will provide specialty coffee in a convenient and accessible location for residents and the greater Greenwood community.

The Hangar offers residents an extensive list of amenities, such as key fob access for each building, mail and package delivery kiosks, valet trash and recycling pickup, and rentable corridor access garages. The property also includes a fitness center, a yoga room outfitted with on-demand fitness software, a bike repair station, a heated resort-style pool and poolside cabanas with USB charging tables, a hot tub, outdoor kitchens with gas grills, an outdoor fire pit and an indoor dog wash station.

The Garrett Companies recently broke ground on another luxury multifamily community, the Oliver Springs project. The community, which includes a clubhouse and amenities similar to those at The Hangar, will consist of 226 units. What distinguishes the Oliver Springs community from others is its offering of two-story units resembling townhomes rather than traditional apartments. The development's buildings will feature private entries for each unit, plus direct access to an attached garage. Lush green spaces will separate the 10- and 14-unit buildings.

"The Oliver Springs community brings a new standard of living to the area," said Garrett, "and we believe that once it's complete, it will offer the best possible for-rent product in this Indianapolis submarket."

The Garrett Companies has developed more than 50 projects in 17 states, including Indiana, where it opened its second corporate HQ in 2021.

About The Garrett Companies
The Garrett Companies a full-service Multifamily Development, Construction, and Management team. Their team of experts works in unison to entitle, develop, build, and manage multifamily projects across the country. They are currently active in 6 states and have completed over 50 projects in 17 states. After delivering over 12,000 apartment homes since 2014, they have become industry leaders in forecasting trends and delivering living options that find quick success in the marketplace. Their proprietary market research criteria paired with a disciplined business model reduces risk and allows the creation of desirable, high-end multifamily housing that produces superior risk-adjusted returns. As a complement to high-end multifamily developments, they also specialize in mixed-use, retail, office, and restaurant development.

Contact:
Jaclyn Pullen
BLASTmedia for The Garrett Companies
[email protected]

SOURCE The Garrett Companies