Breaking Ground on Progress: 1,000+ Multifamily Units Shaping Indiana’s Housing Future

Jan 4, 2025

Breaking Ground on Progress: 1,000+ Multifamily Units Shaping Indiana’s Housing Future

At Inherent Commercial, construction is never just about structures—it’s about momentum, trust, and building what matters most for the people who will call these places home.

As we break ground on over 1,000 multifamily units across Indiana, we’re proud to be contributing to long-term housing solutions that reflect both market need and community-driven design.

Indiana’s Multifamily Market: On the Rise

The Indianapolis multifamily market continues to show strong momentum:

  • Rents have grown 3.0% year-over-year, placing Indianapolis among the top four metros nationwide for rent appreciation.

  • Occupancy rates remain solid at 94.1%, just below the national average of 94.7%.

  • Job growth fuels demand, with nearly 30,000 new jobs added across the metro—more than 10,000 of those in education and health services.

Large-scale developments, such as Eli Lilly’s $9 billion drug manufacturing facility in Lebanon (expected to open in 2026), are anticipated to further accelerate the need for housing and infrastructure in the region. With thousands of construction jobs and nearly 1,000 permanent positions on the horizon, demand for smart, accessible housing will only continue to grow.

Project Spotlight: LEO at Carmel

Among our latest projects, LEO at Carmel stands out as a thoughtfully planned community located on the south side of 146th Street just west of River Road in Carmel, Indiana.

This 31-acre development integrates multi-family living with build-to-rent cottages and townhomes, anchored by a walkable layout and resort-style amenities.

Key Features:

  • 350 total units
    – 113 multi-family residences
    – 237 single-family cottages and townhomes

  • Pedestrian-first design grounded in new urbanism principles

  • Community-focused amenities, including:

    • Resort-style pool and 1,950-sf fitness facility

    • Private garages (in select units) and fenced backyards

    • Pickleball court, walking paths, and open green spaces

    • Stainless steel appliances, vaulted ceilings, and stone countertops

At every phase—from design to delivery—LEO at Carmel reflects our belief in building places that support connection, comfort, and long-term livability.

Want to see how things are starting? Watch this video.

A Look Ahead

As multifamily demand continues to grow across Indiana, Inherent Commercial remains committed to delivering spaces that are rooted in quality and driven by community need. With more exciting developments on the horizon, we’re grateful to contribute to the growth of a region we’re proud to call home.

Interested in future-forward multifamily projects?
Let’s build together.