Fall Creek Place is a community of hard-working families and well-acquainted neighbors, sharing in the dream of homeownership, and enjoying the active and diverse surroundings that come with downtown living. Located only two miles north of the heart of Downtown Indianapolis, Fall Creek Place offers a unique blend of housing types over a wide range of prices. As recently as 2000, the neighborhood was known as "Dodge City" because of its high crime rate. While many families continued to live in the area, vast portions of the neighborhood were comprised of vacant lots and boarded-up homes--the result of decades of disinvestment. In July of 2001, with help from a $4 million Home Ownership Zone grant from the U.S. Department of Housing and Urban Development, the Fall Creek Place development began. Vacant lots, abandoned homes and dilapidated homes were acquired, new streets, sidewalks, lighting, utilities, and trees were installed, and special financing packages were assembled for homebuyers. Today, more than 400 new families join many long-time residents in calling the neighborhood home. Residents enjoy an urban lifestyle, living mere minutes from the exciting shopping, dining and entertainment opportunities that abound in downtown Indianapolis. The neighborhood has an active homeowners association that provides quality-of-life services including neighborhood parks and public lighting, sponsors neighborhood events like an annual garage sale, neighborhood cleanups, group dinners and more. There are plenty of opportunities to participate on neighborhood committees (social, garden, and crimewatch). This website maintains a sometimes lively but open discussion about neighborhood issues, and the HOA also publishes a regular newsletter and holds regular neighborhood meetings. The neighborhood is also covered by design guidelines that result in traditional-style homes with front porches, diverse colors, detached garages and plenty of windows. That doesn't mean all the houses look historic however; you'll find a wide range of architectural styles in Fall Creek Place!
Facts & Figures
- There are currently nearly 400 homes in Fall Creek Place, five years after the project began. The initial market study indicated that aggressive marketing efforts could yield about 45 home sales per year. Fall Creek Place more than doubled this projection and as a result is expanding eastward with Phase IV, which will include approximately 110 additional new homes.
- Half of all homes sold in Fall Creek Place were sold as affordable homes, meaning the buyers earned at or below 80% of the City's median income. Homes in the neighborhood have sold for as low as $94,000 and as high as nearly $400,000, a price range unlikely to be found in any other neighborhood in the Midwest and keeping true to the vision of a mixed-income neighborhood.
- Total home sales will exceed $60 million in the original three phases, and total new household income created by the new homeowners will approach $20 million annually. The neighborhood will also add $1.2 million to the local tax base.
- The neighborhood is much "greener" than before, with one new city park, three new neighborhood parks and a new linear greenway along Fall Creek.
- $15 million of public infrastructure improvements brought completely new sidewalks, street and alley resurfacing, historic lighting, tree planting and buried utilities.
- Fall Creek Place has won four national awards for excellence in planning, design and community development, and has been featured in eight national magazines.
- Fall Creek Place is a partnership between the City of Indianapolis and King Park Development Corporation. Additional support is provided by the Historic Landmarks Foundation of Indiana. Fall Creek Place development is managed by Mansur Real Estate Services.