We Spent $1 On An Abandoned Baseball Stadium - And $14 Million To Convert It Into Luxury Apartments

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CNBC Make It

CNBC Make It

Күн бұрын

Пікірлер: 797
@CNBCMakeIt
@CNBCMakeIt 5 ай бұрын
Do you rent or own? Share your story with us for a chance to be featured in a future installment of Unlocked: forms.gle/jXxFsQnUtHNSHBDu6
@eddyafritz
@eddyafritz 5 ай бұрын
I rent from a market were 80% of landlords utilize RealPage for there prices. What about you CNBC?
@drixle.
@drixle. 5 ай бұрын
Treadmills and ellipticals in the press box overlooking the field would have been awesome.
@amberf6275
@amberf6275 5 ай бұрын
Or some sort of community spot. Mini-kitchen, couple of pool tables, some dart boards?
@jerseymxnette6176
@jerseymxnette6176 5 ай бұрын
⁠​⁠@@amberf6275exactly what i thought. pool table, ping pong table, mini kitchen/bar/coffee spot, & a table for board games seems doable
@dormaintaylor8159
@dormaintaylor8159 5 ай бұрын
a treadmill looking at an open field is WILD to me tbh............
@pgroovster15
@pgroovster15 4 ай бұрын
there's no way to get up there that meets accessibility standards or that wouldn't go through a unit. also, it would be very narrow - not ideal, maybe not even possible to get large equipment up there with adequate space to use it
@OrangeOfCanada
@OrangeOfCanada 4 ай бұрын
Would be a great space for a garden maybe too
@JeJeNtwrk
@JeJeNtwrk 5 ай бұрын
This is just amazing. Instead of letting the building rot away!!!
@jodymazzarese5151
@jodymazzarese5151 5 ай бұрын
I wish someone had gotten to Gary Indiana, so many beautiful structures just left to rot 😢
@GAsh0012
@GAsh0012 4 ай бұрын
They knocked almost all of it down...
@bbsara0146
@bbsara0146 Ай бұрын
pretty sure they tore it entirely down mate
@JRPGGUY
@JRPGGUY 5 ай бұрын
I love seeing old buildings get refurbished
@Simonb1977
@Simonb1977 5 ай бұрын
well they did demolish most of it..
@mkhanman12345
@mkhanman12345 5 ай бұрын
I love old buildings
@DavidMcCoul
@DavidMcCoul 5 ай бұрын
Me too!
@broseywales5538
@broseywales5538 5 ай бұрын
Except the only idea any can come up with is to repurpose them into apartments; it's boring.
@dumolwenkosimhlope1908
@dumolwenkosimhlope1908 4 ай бұрын
Thats a sign you will be a real estate mogul
@aztcufrog
@aztcufrog 5 ай бұрын
Remember they did this in 2011. It was a decent risk in the wake of the financial crisis. Likely why the city offered it for $1 because there weren't many developers who could or would take on this risk. Their building costs also reflect the costs of that time. Materials and labor were cheap and plentiful. Oh how times have chagned.
@josephnekolite2080
@josephnekolite2080 5 ай бұрын
And now they want almost 2k a month for the nicer apartments.
@tomdiets5079
@tomdiets5079 4 ай бұрын
$1,581 a month for a 2 bedroom apartment is freaking great price, you can’t even get a nice 1 bedroom apartment for that much in Maryland.
@dmytrolisovyi2916
@dmytrolisovyi2916 4 ай бұрын
Well, they also got a $5.3 million grant from the city 4:28
@apeekintime
@apeekintime 4 ай бұрын
Developers weren't worried. in 2011. They were getting gas deals on everything and they were going nuts on developments. Most urban areas were seeing a massive kick off of activity in 2011 because every city was offering money and every bank was desperate to lend money on projects so they can build up a new portfolio of stable debt.
@PurpleMonkeyDishwasher88
@PurpleMonkeyDishwasher88 4 ай бұрын
Chain link fencing for the balconies and polished concrete for flooring is about as cheap as one can get in construction. Then you add-in a $5.3 million dollar grant and this being around the low-point of the housing crisis add in cheap labor and material cost, and I bet they barely had to pour in any of their money to get a loan from the bank to get this project off the ground. Talk about great timing.
@soulman4292
@soulman4292 2 ай бұрын
In all reality $14 million is an INSANELY LOW number to redevelop this stadium. Kudos to these gents for putting a lot of time, love, and money into preserving history.
@Wilsnap
@Wilsnap 12 күн бұрын
Not for this time.
@dampaul13
@dampaul13 7 күн бұрын
1:13 The outside looks cheap and nasty. 6:41 As does the quality of the kitchen and bathrooms.
@nicroush4554
@nicroush4554 5 ай бұрын
This is the definition of thinking "outside the box". Excellent job!
@seancai1049
@seancai1049 4 ай бұрын
more about having friends and corruption in government why do they get the land for free and a grant from the city for 5.3 million when they end up owning the property?
@nas4apps
@nas4apps Ай бұрын
@@seancai1049 Well, the city didn't accept the risk of developing this themselves .... why would the city accept such a risk. Now, 280 properties are paying taxes .... the city didn't need to pay for the clean up either. And back in 2011, the real estate world was awful (different today). Not many takers for such a project. Besides, these guys already were into good preservation works in town. They would be the type who would keep the soul of the buildings, and they did! Good showing.
@elijahjakobsen7898
@elijahjakobsen7898 16 күн бұрын
@@seancai1049 You're looking for problems that aren't there.. 1 bedroom split with a partner is $400 each there, which is amazing these days. Take off your tinfoil hat and relax for a second.
@GabFitz
@GabFitz 5 ай бұрын
These are the types of projects we need more of!!!! Instead of just letting buildings rot and fall away why not give them new life and new purpose!?!! I always get so many ideas when I see big abandoned buildings but I don’t have the resources or funds to do anything about it
@organizedchaos4559
@organizedchaos4559 5 ай бұрын
because sometimes it cheaper to tear it down and rebuild
@jlee104
@jlee104 5 ай бұрын
@@organizedchaos4559 but the historical and sentimental value should also be worth something. Not every old building needs to be saved but some should as a means to preserve history.
@toomanymarys7355
@toomanymarys7355 5 ай бұрын
​@@jlee104they usually make substandard housing.
@farzana6676
@farzana6676 5 ай бұрын
​@jlee104 Sentiment of a building doesn't turn a loss into a profit. I also don't like how they kept it looking like a baseball field. They should have made it look like a beautiful park instead. With Roses, Trees, Walkways and a pond/fountain.
@zachary1011
@zachary1011 4 ай бұрын
PLEASE BUILD MORE LUXURY APARTMENTS THERE IS NOTHING!!!! WHAT WOULD WE DO WITHOUT MORE LUXURY APARTMENTS!?!!
@toddshavor809
@toddshavor809 5 ай бұрын
If I could make a suggestion.you should put in a HD Scoreboard and use the playing field grass for renters to do community movie screenings, etc. But it's a really great project and well done.
@hc8714
@hc8714 4 ай бұрын
not really that fun for those premium units facing inside the stadium
@apeekintime
@apeekintime 4 ай бұрын
@@hc8714 Would be very far from their units. Would not be a light or noise issue
@jakerazmataz852
@jakerazmataz852 24 күн бұрын
This is how you build a community. It's fresh and clean and modern, but still has the stadium feel. Kudos to the designers. And the prices don't seem crazy.
@VulcanLogic
@VulcanLogic 5 ай бұрын
Nice work. But this screams "mixed use!" Nothing huge, just some shops and small restaurants along maybe one side. Maybe a small grocery like an Aldi's, Trader Joe's, or a Bridge Street Market like Meijer built in downtown Grand Rapids. Looks like there's still room for more development on the site.
@MarsJenkar
@MarsJenkar 5 ай бұрын
There isn't as much room as you might think. Most of the "empty" area of this place is the old baseball field, which extends fairly close to the street (keep in mind, the old outfield fences were preserved, so intruding on the field would be undesirable). The east wall is only about 50 feet from Harding Street, which isn't enough for a retail building plus parking. The land beyond the north wall already is developed, with a parking lot on that side. As for the surrounding area, it's basically all built up, and has been for a long time.
@udishomer5852
@udishomer5852 4 ай бұрын
This is America... If you don't need to drive to the grocer store you arr not fulfilling your role
@apeekintime
@apeekintime 4 ай бұрын
Give it a couple more years and they'll forget the whole infield concept and built more high efficacy units in the middle of that field and surround them with retail space. They never cared about the stadium - they saw dollar signs and kickbacks.
@MarsJenkar
@MarsJenkar 4 ай бұрын
@@apeekintime Stadium Lofts opened ten years ago, and they haven't yet done what you suggested they would.
@AndrewTheRadarMan
@AndrewTheRadarMan 4 ай бұрын
@@udishomer5852 America has had traditional style of developments for hundreds of years. It's oil lobbies and politicians that banned mixed use zoning, making it harder for Americans to start a business.
@nas4apps
@nas4apps Ай бұрын
Live in The Netherlands, an older brick built nation and we see time and time again that re-purposing older buildings, like Industrial Era factories, monasteries or grand old (large) houses always seem to generate pride into communities. That collective history has stories that again bind people with the properties and, like here, the developers show a deep sense of pride as well. Even if it is not their greatest wealth generator: this type of project development creates another type of wealth. Just honoring the community and its past is of great value. So often it requires vision and close cooperation between local authorities and developers. This one worked out beautifully, great video, hope it inspires more to do projects just like this. Isn't this an honor to the past of the city? Feels so much better than to have bulldozed it all for some 'plain' square buildings. Thanks to the city, the developers and to the channel! CNBC - this is more than just business, it shows purpose! Loved this!
@sterlingmichel4445
@sterlingmichel4445 5 ай бұрын
I whish they had interview some of the tenants to get their perspective about living in the building.
@PoyneStar
@PoyneStar 4 ай бұрын
Went to a party there about 10 years ago while in college. It was in one of the adjacent buildings to the stadium. Apartments were nice but felt a bit industrial. The area of Indy it’s in isn’t the best… but isn’t terrible. It’s sort of in an industrial area but it’s still only a 5 min drive from the main downtown area. Can’t speak on the resident experience but there are definitely better-value places to live in Indy for a similar price.
@BaDazai
@BaDazai 5 ай бұрын
They should turn the field into a walkable garden with trees, plants and mini play area fir the kids.
@albertoderfisch1580
@albertoderfisch1580 2 ай бұрын
Yeah, completely dumb to leave it as a bland flat space
@nitrorange
@nitrorange 2 ай бұрын
It could easily be a park rather than a lawn.
@HoboJR4
@HoboJR4 19 күн бұрын
yeah because families of the apartment complex cant use the infield grass to teach their kids Americas great pasttime....
@Jay12Dizzle
@Jay12Dizzle 5 ай бұрын
A custom pool surrounded by foliage and a little park would have been awesome . An open field is just not that pretty in my opinion
@TrailsTzar
@TrailsTzar 4 ай бұрын
Phenominal historic rehab! I watched this from the start, thankful they didn't tear down the old structure. These buildings serve as icons to a neighborhood and more effort should be taken to preserve them like this.
@smarteveryday1606
@smarteveryday1606 5 ай бұрын
most interesting renovation project
@Unknown_Ooh
@Unknown_Ooh 5 ай бұрын
Interesting sure, but definitely not the "most" interesting
@apersunthathasaridiculousl1890
@apersunthathasaridiculousl1890 5 ай бұрын
@@Unknown_Oohwho does that title belong to then?
@MarsJenkar
@MarsJenkar 5 ай бұрын
I used to live in the area, and I'd visited old Bush Stadium (the one that was renovated for this project) many times when the baseball team played there, as well as a few times at Victory Field downtown. I know that Bush Stadium was used as a racing course for a few years but that never really took off. At least some of old Bush Stadium has been preserved in this project.
@Geeksmithing
@Geeksmithing 5 ай бұрын
Thought for sure there would be a batting cage in the fitness center at least.
@davidanalyst671
@davidanalyst671 5 ай бұрын
let me introduce you to the concept of american lawyers
@CVSoprano
@CVSoprano 3 ай бұрын
@@davidanalyst671 An unfortunate truth. :(
@aaregiel
@aaregiel 5 ай бұрын
Well done, I like their approach, and the result. Perhaps where the main entrance was a small coffee shop, and a tiny grocery store would have greatly added to the living quality of the residents.
@sparklelikeaghost
@sparklelikeaghost 2 ай бұрын
How many apartment complexes do you know of that have a coffee shop and a grocery store in them?
@aaregiel
@aaregiel 2 ай бұрын
@@sparklelikeaghost: It's very common, at least outside the US, to build town centers, and satelite centers of cities with such multifunctional buildings. In our municipality we are about to rezone some land, and allow more such mutipurpose buildings, as they are contributing to the linving quality, and lower traffic volume.
@borktheorc
@borktheorc 2 ай бұрын
@@sparklelikeaghost how many apartment complexes do you know of that are built on the husk of a baseball stadium? What a goofy question to ask.
@mordsythe
@mordsythe 4 ай бұрын
The fact they made them affordable is what I love about it this project. I genuinely figured they would be “premium apartments” which translates to “add another thousand” Good job to them!
@kidistight
@kidistight 2 ай бұрын
Uh, did they though. The city was initially looking at $600 for the lofts I believe. However they are charging $1100. I don't know the wages in IN, however an extra $500 I'm sure hurts anyone right now.
@mrjfrostbite
@mrjfrostbite 27 күн бұрын
Actually it’s overpriced based on the cost of living in that city and specifically that neighborhood. You can rent an entire house where this place is for less than what they’re charging for a two bedroom.
@carmellabrown3335
@carmellabrown3335 5 ай бұрын
Dear Lord I ask that you surround me with people who have this type of vision. That is an amazing idea, kudos to them for making it happen. It looks beautifully done, I hope that they invested in proper infrastructure in the apartments are safe. Chef's kiss beautifully done❤
@amarbaha
@amarbaha 5 ай бұрын
That is just so AWESOME that these gentleman had the insight and the will to do this. Great repurposing and nostalgic.
@thelegend2776
@thelegend2776 4 ай бұрын
It is very clear that this was mostly designed by engineers instead of architects...
@MsTERRY4658
@MsTERRY4658 5 ай бұрын
God bless you guys. I wish more developers across the US would do this. Instead, of tearing down decent buildings and eliminating parks.
@malik2728
@malik2728 5 ай бұрын
Love stuff like this because it helps to keep some semblance of architectural culture rather than just tearing it down like so many other places have
@Caterations
@Caterations 5 ай бұрын
I've drove by this last year going to Gen Con a few times and wondered what it was like. Thank you @cnbc for putting this out here.
@skyak4493
@skyak4493 5 ай бұрын
I think that may be the best $1 the city ever earned!
@tomektomek9836
@tomektomek9836 4 ай бұрын
They also spent 5M in grants which is free money for the developers
@MangoMotors
@MangoMotors 4 ай бұрын
​@@tomektomek9836 $5 million for a successful housing project is on the cheap side consider I've seen so many cities spend hundreds of millions on failed projects
@edubbs3528
@edubbs3528 4 ай бұрын
@@tomektomek9836 It is, but I'm sure it comes with strings attached...as it should.
@danielmakinde-v9k
@danielmakinde-v9k 24 күн бұрын
@@tomektomek9836 grants isnt free money. it always comes with red tape
@Ragnarok2414
@Ragnarok2414 4 ай бұрын
Baffles me that they did concrete for the bases paths. Why not make it a usable park. Total waste of an opportunity
@Jonas-nf2bc
@Jonas-nf2bc 4 ай бұрын
Because maintaining a baseball field is expensive. I think the residents should have access to the grass on the field however. Seems boxed in to me.
@Jon-fk3gu
@Jon-fk3gu 3 ай бұрын
Agreed. Totally ruins the field.
@walmars3curity
@walmars3curity 2 ай бұрын
Literally nobody is ever out there using it or the tennis courts... lol
@Chris.Davies
@Chris.Davies 4 ай бұрын
Why wouldn't you landscape the old baseball field, and turn it into a wonderful garden?
@FauadShah-dk5rs
@FauadShah-dk5rs 4 ай бұрын
Because they wanted to keep the field as a historical/heritage site
@calhountubbs4031
@calhountubbs4031 2 ай бұрын
Because this was a much, MUCH BETTER idea.
@micmousebg
@micmousebg 5 ай бұрын
I am absolutely amazed. Such a beautiful idea - and realization! Lots of respect for these gentlemen!
@lewdog-jf2vz
@lewdog-jf2vz 9 күн бұрын
Went to a few games of the Indianapolis Indians back in the 60"s. Great memories. Glad to see it get refurbished.
@randomguysays
@randomguysays 4 күн бұрын
I used to go to so many baseball games at that field when I was a kid, It's crazy to know the steps I used to run up and down chasing after loose balls is now apartments. Victory Field has a lot memories for me this looks awesome
@grand_vacation
@grand_vacation 4 ай бұрын
Mannnnnn I love the recycling ideas!! If I had a bazillion dollars I would buy an old cruise ship, dismantle it and rebuild it on land!
@pedrofan34
@pedrofan34 5 ай бұрын
Excellent idea to repurpose the stadium. It does sound like a highway robbery deal because they put $1.2M in, paid themselves 800k, and then took out a mortgage which will be paid by renters (with the rest being grant money). I looked up Stadium Lofts and it looks like it’s in an industrial district so not really any shops, restaurants, or stores nearby. Would have loved to see some offices or small stores incorporated on the property. Still a very cool place to live though
@faaqcee3
@faaqcee3 5 ай бұрын
I wonder what it looks like today.
@IppiopaidFEEDBACK
@IppiopaidFEEDBACK 3 ай бұрын
I love when cities and towns keep their culture! It’s so easy and cheaper to homogenize every thing, so kudos to them because this is beautiful! The city made the sacrifice by selling it for a $1, which allow these guys to create this beautiful project in revitalize that part of the city. And the fact that they came in on budget is un-American, but I love that!
@mattski1979
@mattski1979 4 ай бұрын
Member in Big when Josh Bastion asks his secretary to get old Superbowl tapes without commercials from some department or other and Bastion's friend says , "you're the luckiest guy I know." That's me for watching what both of you guys accomplished. Great Job.
@almosttape
@almosttape 11 күн бұрын
Do the old Cooper Stadium in Columbus next. It’s literally the same type of project. Only suggestions is make the rent a touch cheaper maybe $750-$1500.. and make the baseball field playable (but also safe for the apartments behind them)
@andyo9930
@andyo9930 5 ай бұрын
Seems cool, looks cool, but concrete is a noise conductor. With the concrete floors and the building’s initial design purpose, I’m guessing the sound between apartments is probably pretty loud.
@lorevyr
@lorevyr 5 ай бұрын
Amazing video, also showing the $ amounts is amazing
@lc8361
@lc8361 26 күн бұрын
Kudos to the owners for giving us this amazing insight. This was amazing!!
@Findre37
@Findre37 5 ай бұрын
There is a similar project like this in Detroit involving the old Tiger Stadium.
@danielledriscoll128
@danielledriscoll128 2 ай бұрын
so great to see a successful semi preservation project. Those elements you kept really give the apt building some character. The concrete infield is another nice detail, that make one want that unique view. Good for other cities and developers to see how the budget shook out. Things like this can add to a cities unique character.
@clebo99
@clebo99 5 ай бұрын
This is much better than my condo in Diamond City.
@qzy-179SanTzxkW
@qzy-179SanTzxkW 4 ай бұрын
This brings a new meaning to the term "homerun"
@MatthewTerkhorn
@MatthewTerkhorn 2 ай бұрын
First baseball game I went to in 86 at 5 years old was there. Loved it when I found out they would be doing this.
@mc76
@mc76 3 ай бұрын
That's terrific. Not only did I see a lot of ballgames in Bush Stadium nee Victory Field, but also it was right across the street from CYO Field, the stadium where my high school football team practiced and played. The last time I was in Indy, that area was pretty bleak, so anything that can be done to rehabilitate the area is an idea I support.
@Infectd
@Infectd 5 ай бұрын
Love to see projects like this. They help show the modern youth that the housing crisis is one of our own making. These projects dont happen over night or for free. We need more people in construction roles. There is not enough properly skilled people to do the work.
@derkies2133
@derkies2133 5 ай бұрын
Why keep the gas on the field...make it a proper park and an community garden!
@SirD1
@SirD1 5 ай бұрын
Exactly! A green space would be nice
@bnwo
@bnwo 5 ай бұрын
They did the minimum investment is why.
@BatsiraiMusuka
@BatsiraiMusuka 5 ай бұрын
Did you all hear the part where they said they pour back profits into these projects? Or the part where they want to maintain the heritage? You go ahead and start your own project. We are always fast to criticize people who actually did the work.
@dronetestdaegan
@dronetestdaegan 5 ай бұрын
They took all the cars away, so there is no gas on the field anymore. I'd assume some leaked, but the grass looks nice for the residents to use.
@josephhobbs4754
@josephhobbs4754 5 ай бұрын
Hopefully they got some cash for crushing those clunkers.
@Zhvianna
@Zhvianna 4 ай бұрын
this is actually so cool! i had a dream of doing something similar with miami boat water stadium, it’s been abandoned for so long and i just know it has potential for something amazing! great job guys! keeping history alive and doing it in a way that benefits the city and community.
@alastairhewitt380
@alastairhewitt380 4 ай бұрын
So happy projects like this are happening. When I visited Helsinki 11 years ago I stayed in the hostel inside their olympic stadium, which was cool, but came with a bit of frustration. "Why don't we do common sense things like this?" Unfortunately, I will never have access to $27 million worth of capital, but very happy to see entrepreneurs are catching on. Now if only the public sector could...
@RabeaAbid
@RabeaAbid 2 ай бұрын
that huge amount of millions needs a huge trust of the people to the developers!
@Joe-ij6of
@Joe-ij6of 20 күн бұрын
Imagine multiple baseball field conversions across the county and region, they develop baseball teams among the residents, and they have rival apartment complexes play baseball games against each other like an adult Sandlot.
@mulemule
@mulemule 5 ай бұрын
*Public & private collaboration at its best. ("Swing aaaand a **_hit!")_* 👍
@POKERBEAST25
@POKERBEAST25 11 күн бұрын
The only thing I would've changed was installing quality field turf over the grass. It would reduce maintenance costs and would look perfect.
@ScubaKaden
@ScubaKaden 13 сағат бұрын
Picturing something like this where I come from Arizona. Baseball is super popular there at all levels, so maybe the field could still be used. Just for little league even. Or the infield could be turned into a pool. That would be awesome.
@akane8615
@akane8615 5 ай бұрын
This would be nice alternative to dormitory.
@josephatha2957
@josephatha2957 4 ай бұрын
Indianapolis is a great city and knows the value in bringing history back to life.
@Mike__B
@Mike__B 5 ай бұрын
This is a great project but... instead of the city hiring a company to build housing where it would largely be in charge of the housing, they essentially give property to a private developer and just say "just make living spaces, you can own them, and you can profit off them" Now sure the ROI isn't immediate by any stretch, but this is largely the problem with housing across US, cities say "we don't have enough affordable housing" and then they give away all their land to to private firms so they profit and at most the city gets property tax revenue.
@JD-pe7sx
@JD-pe7sx 5 ай бұрын
With direct ownership the city is directly accountable for all of the management decisions which isn't always great. Renters coming to city council meetings bc the rent goes up, lol. Maybe with a joint venture setup it can work though, idk.
@Mike__B
@Mike__B 5 ай бұрын
@@JD-pe7sx Oh yeah, I absolutely understand that aspect of it. But it's gotta be better in the long term than literally giving away land to a company and say "build something there!". Maybe own it and hand it over to a rental agency or something and they can deal with the day to day decisions.
@a13xp52
@a13xp52 2 ай бұрын
Let's be real here, If the government was in charge, the project would've taken 2x longer, cost 4x as much money to build, and then they would've subsidized the rent/cost by taxing the rest of us.
@MrPepelongstockings
@MrPepelongstockings 2 ай бұрын
How did rent go from the $600-$1,200 promised the city of Indianapolis to the actual $900-$1,700? Did this not affect the $1 sale price? Why would the city sell it for nothing if it's going to be used for expensive luxury apertments instead of cheap accessible apartments as seemed to be the plan?
@lanalou77
@lanalou77 20 күн бұрын
Fascinating! Bravo
@thenaturaltexican
@thenaturaltexican 11 күн бұрын
Would be cool for residents to actually make field playable for games, maybe youth tournaments and high school playoffs/scrimmages. Would have to have plexiglass installed for every unit of course, though.
@sayyedameerarkhisro1464
@sayyedameerarkhisro1464 4 ай бұрын
This seems to be one of the most profitable project. Also the utilisation of space and construction is amazing for such space.
@PaulHolder
@PaulHolder 2 ай бұрын
This is cool. There are building projects in my city that have been running for longer than I can remember so doing this in two years is a good achievement too.
@drstclair
@drstclair Ай бұрын
I lived just down the street from the stadium. It was amazing to see after thinking it would sit vacant forever. Same thing happened with an old Coke factory easy of the stadium. It's now the thriving Bottleworks District.
@hartinggarth
@hartinggarth 5 ай бұрын
I love this community empowerment and affordable units and financing.
@randykricke8685
@randykricke8685 14 күн бұрын
I remember going there with my boys to watch the Indianapolis Indians play. There favorite was Razor Shines.
@zacharymulford4172
@zacharymulford4172 5 ай бұрын
Yep, I went to games there growing up. Glad they were able to save it, pretty cool to see the brick outfield wall still up.
@theindyjt
@theindyjt 5 ай бұрын
Too bad the ol' WigWam is gone.
@MNY367
@MNY367 3 ай бұрын
I grew up about .5 mile from here. I always thought it was an awesome transformation
@brandonhoad9033
@brandonhoad9033 10 күн бұрын
Such an awesome idea. I hope you have or will do more projects like this
@EquityChaser1
@EquityChaser1 5 ай бұрын
This is absolutely brilliant and you could use that field space for tennis courts and pool space. And even implement a grove area for your tenants to relax.
@RavenStorm332
@RavenStorm332 5 ай бұрын
the best part is that they kept the overall style of it looking like a baseball stadium and field
@tonycole5209
@tonycole5209 24 күн бұрын
That's really dope!! Texas definitely needs to explore possibilities of doing this!!
@shawnmiller9014
@shawnmiller9014 11 күн бұрын
Absolutely awesome! Great idea and development!
@facelessbuildr
@facelessbuildr 13 күн бұрын
$1 and a 6.5 million grant. networking is so important folks!!!
@d-24
@d-24 5 ай бұрын
900 - 1700 $/month, average 1200$ a month, 96 apartments = 115.200$ a month. Spend 14 million to gain approx 125.000$ a month so he's getting his payment back in 112 monthswhich is about 9.5 years. So he's earning his money in 9.5 years.. pretty good deal!
@UncleLesterCam
@UncleLesterCam 2 ай бұрын
$6M in Cash from Tax Payers to fund this and CNBC conveniently forgets to give this color from the most popular review on a major apartment finding site: "I've lived here for a few years. At first, it was a fairly priced, unique apartment. The furnishings are cheap, and you're surrounded by college kids (i.e. noise and weed), but with each management change...things get worse. We are now officially at the point where if something is wrong, they just throw up their hands and say, "we can't do anything about it." SEVERAL thefts this week alone; mailroom, patios, cars being broken into. Upon complaining, you'll be met with such pearls as: "There's nothing we can do." "This is Indianapolis, what are you going to do?" "You shouldn't leave valuable things laying out." It's one thing to transfer liability. It's another to completely disregard any attempt to acquire any, and to blatantly say that to your residents."
@the_expidition427
@the_expidition427 Ай бұрын
CNBC gets paid
@JB-bs1se
@JB-bs1se 5 ай бұрын
I wish they would have done something like this with parts of Old Tiger Stadium in Detroit! This is awesome!
@calhountubbs4031
@calhountubbs4031 2 ай бұрын
They should arrange apartment wide baseball game every so often. Like each floor would be a team or something. I think that would be really cool.
@scottcastillo7936
@scottcastillo7936 15 күн бұрын
Fabulous Video! Great job! Responsible developers! Fun stuff!
@celestialnubian
@celestialnubian 5 ай бұрын
I'm always in awe of a well done architecture / build project.
@josieperdew2644
@josieperdew2644 2 ай бұрын
I past it today to penrod and it looks so much cooler in person, I can't believe I was able to see it in person
@danielwalker26
@danielwalker26 4 ай бұрын
I just love it that there is already plenty of parking. The main problem with most apartments is that there is never any guest parking and you can never find a second space if you live with someone.
@IEIDIDO
@IEIDIDO 4 ай бұрын
I mean the fact that it doesn't have a functioning baseball diamond ruins it for me.
@YouCanCallMeReTro
@YouCanCallMeReTro 3 ай бұрын
In fairness it would cause a lot of broken windows and noise complaints.
@_ata_3
@_ata_3 3 ай бұрын
@@YouCanCallMeReTro You can put a net.
@IEIDIDO
@IEIDIDO 3 ай бұрын
​@@YouCanCallMeReTro 1) There are ways of protecting the windows. 2) Only ball fans would move in, so there would be no complaints.
@YouCanCallMeReTro
@YouCanCallMeReTro 3 ай бұрын
@@IEIDIDO Yeah you could protect the windows, at the cost of being able to actually have a view/good lighting from your apartment. I doubt they could book the place full just off baseball fans, that seems like a super niche/weird combination for real estate.
@bigturbo
@bigturbo 4 ай бұрын
As someone who lives near this, it’s not at all a luxury apartment complex
@dampaul13
@dampaul13 7 күн бұрын
Looks pretty cheap and nasty.
@vernongomes
@vernongomes 5 ай бұрын
Michael and John could do this to Gwinnett Place Mall in metro ATL. My city has been talking about it for years and done nothing yet!
@davidnevolo4402
@davidnevolo4402 4 ай бұрын
The press box should become an amenity center. Put some pool tables up there, some lounge furniture. Looks cool 😎
@AutisticMorty
@AutisticMorty 5 ай бұрын
Why is it the guys who never use a gym that decide what goes into a shared fitness room? 10 treadmills, 10 bikes, one bench, no squat rack. Reality: 1 person running on treadmill, 5 waiting to use the only bench.
@gothamt9843
@gothamt9843 5 ай бұрын
Equipments for apartments like this are often pre packaged. A lot more people do just cardio than weight lift. Hence the number of equipment is based on that.
@1knightero
@1knightero 5 ай бұрын
@@gothamt9843if u really wan to do cardio , u could just run the field . But no way for weight lifting . U only can do it with equipment .
@LuxeBabe22
@LuxeBabe22 4 ай бұрын
I think you over estimate how much the average person weight lifts
@AutisticMorty
@AutisticMorty 4 ай бұрын
@@LuxeBabe22 I use the fitness room in the building so I see it all the time. 5 guys waiting for the bench, 1 person running on treadmill, and 19 empty treadmill/bikes that no one uses.
@RyanLynch1
@RyanLynch1 5 ай бұрын
i feel like the remaining field could be a park or something. it's great that this whole project happened thoughn
@Pr0toPoTaT0
@Pr0toPoTaT0 5 ай бұрын
This is dope. No other words. Youre charging what i pay now where im at to live at a baseball stadium. Cant lie though, something bout those flats look unappealing lol
@walmars3curity
@walmars3curity 2 ай бұрын
If you never been to the area you wouldn't want to live there.... The hood of the west side is right down the road
@discingaround
@discingaround 2 ай бұрын
That's pretty awesome! I'd definitely live in a spot like that. Really unique and fun.
@aryehyehudahajzenberg9503
@aryehyehudahajzenberg9503 2 ай бұрын
SOMEBODY GIVE THIS TWO GUYS A PRIZE !!!!!
@thesamirmahadin
@thesamirmahadin 2 ай бұрын
Very cool. Although it would be even better if they got rid of the concrete baseball diamond and made that some sort of more functional green area and also more aesthetically pleasing with trees, shrubbery, etc.
@rsetha01
@rsetha01 4 ай бұрын
Lived in Indy for 8 years and never knew about these apartments but they look great. Now to see what neighborhood it’s actually in lol
@MotownGal
@MotownGal 5 ай бұрын
Fantastic result on your project! It's wonderful.I love that you have repurposed a historic ballpark and that the ballfield is still there.
@bryanjacobsen5005
@bryanjacobsen5005 9 күн бұрын
Interesting. I feel landscaping the field area as more of a park instead of an open field would be more appealing for usage. But leaving it as a baseball diamond is understandable.
@Shawn-Leider
@Shawn-Leider 3 ай бұрын
It looks great I just wish you could have saved more of the outfield structure. If that could have been saved wowee the view would be amazing
@ericrowland3246
@ericrowland3246 5 ай бұрын
I’m from Indianapolis and as soon I saw the stadium I knew what it was lol. It’s too close to the hood for me but near downtown. That’s why you’re only seeing shots of the stadium facing downtown lol.
@02nupe
@02nupe 5 ай бұрын
In other words, Gentrification. what the hood is now, it is worth millions to those who depressed the value in the first place and many in the hood don’t even know.
@SheeshDumaaaaa
@SheeshDumaaaaa 5 ай бұрын
@@02nupe boo hoo. the hood is the hood. keep gentrifying and getting them ghettos out
@PerryPerfectPerson
@PerryPerfectPerson 5 ай бұрын
lol 😂 being from outside of Indianapolis and seeing your hoods. You would be just fine. Especially in a building like this. But hey i guess you’re just better than everyone.
@Objectified
@Objectified 5 ай бұрын
@@02nupe If you're lumping this in as gentrification then you're arguing against any sustainable development of low-income areas. It's 138 new units of low-to-mid cost housing, including 2-room units that can support 2 renters, built on land that was just sitting there unused prior to that.
@02nupe
@02nupe 5 ай бұрын
@@Objectifiedgentrification is not all bad, however this is an example of gentrification. You might want to be better understand what that entails.
@Tangerinetaco
@Tangerinetaco 3 ай бұрын
Cool. 😎 I love how they kept baseball as a theme in the apartment.
@Robber_Crab
@Robber_Crab Ай бұрын
It woulda been awesome to setup the infield for use as a whiffle ball stadium and make use of the scoreboard for community games and events
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