News From Terre Haute, Indiana

March 1, 2011

Senior apartments complex opening this month

Southside units available based upon renters’ income

Arthur Foulkes
The Tribune-Star

TERRE HAUTE — Dozens of Terre Haute-area seniors are lining up for the newly constructed Park Place apartments on the city’s south side.

The new three-story senior-living apartment building will open for business on March 21.

About one-third of the 78 apartments are already leased, said property manager Sue Collins. More than 40 apartments remain available for rent, she said.

“It’s looking good,” said a soon-to-be tenant who did not want to be named. “Everything is immaculate.”

Monthly rental rates at the 88,200-square-foot apartment building are based on tenant income through the federal government’s Section 42 low-income housing tax credit program. Rents range from $199 to $511 for one-bedroom apartments and from $238 to $612 for two-bedroom apartments.

To qualify to live at Park Place, a tenant must be age 55 or older. Also, a tenant’s income cannot be more than $23,280 for a single resident or $26,580 in combined income for a family of two. There are only one- and two-bedroom apartments in the building.

“A lot of our tenants have never lived in a brand-new place before,” Collins said.

Landscaping and other work remained to be done at Park Place as of Monday. Once fully completed, the apartment building will feature a library on the third floor, a game room on the second floor and a fitness room and a party room, complete with full kitchen, on the ground floor.

There are no garages with the apartments. However, there is a large, lighted parking lot in front of the building. There are also plans to eventually construct a privacy fence around the building, Collins noted.

The seniors renting at Park Place are very happy to have their own washer and dryer units already installed in each apartment, Collins said. Seniors appreciate not needing to carry their laundry to a coin-laundry or a common laundry room, she said. “Everybody loves that. That’s a huge thing,” Collins said.

Each apartment also includes a balcony or porch and closet and storage space, Collins said.

Park Place apartments are owned by Crestline Communities, an Indianapolis development company. The apartments are at Wheeler and Arleth streets, west of South Third Street. Crestline Communities specializes in developing and managing multifamily properties in the Midwest.

Park Place apartments is planning an open house on Saturday. To learn more, call (812) 232-4371.



Arthur Foulkes can be reached at (812) 231-4232 or arthur.foulkes@tribstar.com.