Riley Crossing at Gateway Park Apartments will have 204 apartments, with a mix of one-, two- and three-bedroom units.
Provided photo
MT. COMFORT — Equity Property Management L.L.C, EPM, announced its purchase of 14 acres to construct a mixed-use residential community named Riley Crossing at Gateway Park Apartments, via a press release earlier this week.
The 14 acres were purchased through EPM’s affiliate, Gateway Park Apartments, LLC, from Hancock Regional Hospital in Hancock Gateway Park.
The press release stated the residential community will have immediate access to Indianapolis and the Mt. Comfort Airport, being located just south of the I-70 and Mt. Comfort Road intersection and will eventually be a $460 million project on hundreds of acres of land.
It also states that the planned development will complement Hancock Regional Hospital’s medical services. Alongside, there will be a variety of future commercial use, including a hotel with conference centers, restaurants, offices, an aging-in-place facility, retail spaces and other multifamily housing.
“This development serves as a testament to EPM’s commitment to the current and future housing needs of this vibrant and growing community. EPM shares in Hancock Regional Hospital’s vision to make Hancock Gateway Park a world-class development and to set new standards in residential real estate. We are proud to partner with Hancock Regional Hospital and be part of the growth of Hancock County,” John H. Cox, president and CEO of EPM, said in the press release. “EPM’s roots are embedded deeply in Indiana’s soil. We currently manage 2,123 units in Indiana, including 422 in the Indianapolis area and 288 units in Greenfield at a community known as Washington Village Apartments. Hancock Gateway Park is a natural expansion of our organic growth in communities where we have existing, strong and long-term relationships.”
Some Hancock County officials noted that, while they were aware of officials with Hancock Regional Hospital having a vision for the property they owned, they had no idea the development had come to fruition.
“It’s a bit surprising,” Hancock County Council president Jeannie Gray said. “I recall discussions about developing the land, but that was years ago and I had no idea it had made its way to becoming a reality.”
Gray went on to say the plan sounds like a good one with senior living and other developments.
Hancock County Commissioners president Bill Spalding was just as surprised about the announcement of the development when he got word Thursday morning from fellow commissioner Gary McDaniel.
“While we may not have been aware of the recent announcement, we were aware this was part of an overall plan hospital officials had been talking about since 2019,” Spalding said. “Hancock Regional is their own developer and they develop their own property, so they can do what they want.”
Rob Matt, development director of Hancock Health, said that overall multi-use development will help support the job growth that has occurred north of I-70.
“This is a direct response to helping fill the gap in housing for Hancock County so that the people that work in all of this new growth can also live in the community,” Matt said.
“We welcome this development and applaud all of the progress Hancock Health is making with its Gateway Park,” Mitchell Kirk, communication director for the Hancock Economic Development Council, stated in an email. “Riley Crossing and Equity Property Management’s other plans for this area will add to the county’s housing diversity and draw residents who will bolster our workforce and contribute to our economy.”
Riley Crossing’s initial development is planned to be constructed of 204 apartments in six three-story, walk-up buildings. It also will have a mix of one-, two- and three-bedroom apartments, a clubhouse, pool, grill desk, remote garages, and resident amenities. The community is named in honor of the “Hoosier Poet,” James Whitcomb Riley.
Riley Crossing will be the first of four separate Hancock Gateway Park communities by EPM, according to the press release. Those will include, “six-story luxury rentals above mixed-use ground-floor space and luxury two- and three-bedroom town-home apartments with direct access two-car garages.”
While county officials and HEDC are welcoming of the development, it has been previously reported by the Daily Reporter that first responders may have concerns with the rapid pace of growth in the western part of the county.
Hancock County Sheriff Brad Burkhart stated he was also surprised by the announcement from the developer. He knows the new development will mean more work for his deputies and a need for more law enforcement.
“The frustration on these kinds of things with how that western part of the county has sort of grown over the past couple of years is nobody ever consults public safety before they make plans for these types of things,” Burkhart said. “They don’t consult us because they’re probably not going to like our answers.”
EPM expects to break ground for phase one no later than September 2023.
Reporter Kristy Deer contributed to this story.
