INDIANAPOLIS-Strategic Capital Partners LLC has teamed up withthe city and other developers to create the 100-acre AvondaleMeadows mixed-use project, which is expected to cost up to $200million. The project is a redevelopment of a downtrodden, existinglow-income housing site.

The Chicago-based firm recently broke ground on the firstdevelopment at the site, a 248-unit apartment complex called EastVillage. The apartments are a joint venture of SCP, the SterlingGroup, the Meadows Community Foundation and the city. Sterling wasbrought on because of the company’s experience with apartmenthousing, says Mike Higbee, managing director of SCP’s UrbanDevelopment Group.

The city helped acquire the land and provided funds from thefederal government’s Neighborhood Stabilization Program for theconstruction of East Village and the demolition, earlier this year,of Timber Ridge Apartments at the site. “This site at one time helda shopping center and a significant amount of low-income housingthat became an eyesore. Much of that housing is now down, and we’rereplacing it with a master-planned redevelopment that will includehousing and retail,” Higbee tells GlobeSt.com.