The City of Indianapolis is trying to acquire a historic apartment building on the North Side of Indianapolis.
The Drake is an eight-story 1920s apartment building on the campus of the Children’s Museum of Indianapolis. The building, which belongs to the museum, has been vacant since 2016.
The Department of Metropolitan Development is requesting over $2 million to purchase the Drake and other potential properties on the North Meridian Corridor for affordable workforce housing.
The Drake’s future development has been called into question, as the museum and the city are still locked in a legal battle over the building’s historic designation.
But the city says recent conversations with the museum have been productive. Department of Metropolitan Development director Scarlett Martin said the city sparked interest in the site after a request for ideas.
“From a housing perspective in particular, we are therefore seeking tax credits from the county council,” Martin said.
This move aligns with the ministry’s goal of increasing transit-oriented development.
“I think there are key opportunities to increase housing density, especially affordable housing and workforce housing along the red line,” Martin said.