Founders Square (Speedway, IN)
Project Location:
Speedway, IN
Total Units:
60
Total Value :
$16,200,288
Project Type:
Family
Project Description
Founders Square Senior Apartments is the first affordable, independent senior living community in Speedway, Indiana—home of the Indianapolis 500. This 60-unit development gives residents 55+ the chance to stay connected to their community in modern, accessible two-bedroom apartments within a vibrant 25-acre mixed-use redevelopment.
Key Features
- 60 two-bedroom senior apartments
- Modern, accessible design: wide doorways, Energy Star appliances, free high-speed internet
- Community amenities: craft room, fitness center, resident garden, balconies, key fob security
- On-site management & security cameras
- Health & wraparound services: CICOA Aging & In-Home Solutions partnerships
- Programs: nutrition & fitness classes, caregiver support, Smart Use energy training, resident events
- Transit-accessible: IndyGo Orange Line, near Aldi and new retail
- Qualified Census Tract & Opportunity Zone
- $5M+ in local investment from Town of Speedway
Funding sources:
- Walker Dunlap (Alliant Capital) -$10,125,184
- Merchants Bank (Freddie Mac) -$3,900,000
- Radiant CDC (AHP) -$600,000
- IHCDA TCAP -$500,000
- INHP -$206,000
- Owners Equity -$869,104
Partners :
- Walker Dunlap (Alliant Capital)
- Merchants Bank of Indiana
- INHP (Bridge / Construction)
- IFF (Predevelopment Loan)
- Federal Home Loan Bank (AHP)
Radiant Role :
- Radiant CDC Owner (49%),
- Developer (49%)
- Speedway (PILOT Program)
- Community Facility Space