Penn Arts Building
Indianapolis, IN

The owner "plans to maintain the building as a rental property rather than converting to condominiums, as the previous owner said it would do. But the number of units for rent will shrink. Piazza said he will nearly gut the 82 apartments and renovate them into 45 larger units. While bathrooms and kitchens will get new sinks, tubs, cabinets and other fixtures, an urban, historic look will be preserved in flooring, molding and doorways, Piazza said. There'll be no fluorescent lighting anywhere, Piazza said.

"A gym, sauna and swim spa will also be added, something Piazza believes is unique to older apartments buildings in the area. He also plans to make the building and his other buildings operate on greener electricity, where available, which he said costs about 3 percent more. Renovations extend to the outside of the Penn Arts building, which will get a new façade with old-style double doors and awnings."

Taken from the Indiana Business Journal (March 11, 2008)

An adjoining parking lot will be enlarged and the owner hopes to get approval to turn part of the sidewalk along 16th Street into parking spaces. Landscaping will be added around the parking lot and an entrance from Pennsylvania Street will be added.