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New apartment complex proposed for downtown Bloomington

By Isabella Vesperini

Posted October 26, 2023

The complex would be built at 503 N. Rogers Street, near where the B-Line trail crosses Ninth Street. (City of Bloomington)

Indianapolis developer Buckingham has proposed building a new apartment complex in downtown Bloomington. The complex would be built at 503 N. Rogers Street, near where the B-Line trail crosses Ninth Street. Fell Iron and Metal is currently located at this address.

Gabriel Holbrow, zoning planner in the planning and transportation department for the city of Bloomington, said Buckingham has proposed building four buildings with a total of 225 units. There will be approximately 30,000 square feet of space in three of the buildings. The fourth building will be a townhouse with five townhouse-sized units. Most of the apartments will be one and two-bedroom, with some three-bedroom and studio apartments available as well.

Buckingham is planning to build five townhouses as part of the project. *(City of Bloomington)*

Amenities include a gym, parking, pet wash, meeting rooms and about 3,000 square feet of rentable commercial space. Holbrow does not know how much the rent will be. There are two options for Buckingham to meet the affordability requirements.

“Because of the proposed size of the buildings, they [Buckingham] need to get affordable housing incentives that are in the unified development ordinance,” Holbrow said. “They also need to get sustainable development incentives.”

The affordable housing incentive requires that a company make at least 15 percent of the units permanently affordable to people making up to 120 percent of the area median income. A company must also contribute to the sustainable development incentive; they must build the apartment to include things like solar panels, building energy efficiency and covered parking.

“The city is not providing any funding for this,” Holbrow said. “The hope is that having more supply of housing, will, in net, bring down the overall price of the housing.”

Buckingham has another option if they do not want to agree to the affordable housing incentive and sustainable development incentive: contributing to the Bloomington Housing Development Fund instead. The fund raises money to increase the number of affordable housing units in the city for those making 120 percent of the area medium income or less. It also provides loans and grants for the development of affordable housing.

The project was first proposed last summer, and was formally filed in September.

The planning commission has yet to do a major site plan review and approve variances, which would go through the board of zoning appeals in November.

“There's opportunity for the board not only to approve or deny, but to approve with particular conditions, if there are things that are really relevant to making the project better,” Holbrow said.

Holbrow said with all the meetings and approvals the project needs to get, construction probably will not start until next summer or fall. He does not know how much it will cost to build, but speculates it will take 18 to 24 months to complete construction.

“It's still early in the review process; there's a number of steps to go through,” Holbrow said. “The biggest one involves a public hearing and comment from the public.”

Holbrow said before the plan commission meets, Buckingham is required to host a meeting for nearby neighborhood associations.

“It’s a time when the process opens up for people to give comment and to also learn about the project if they’re interested,” Holbrow said.