Indianapolis is among the many U.S. cities that are enjoying a boom in the multifamily market. According to a 2018 report from Barratt Asset Management, Indy’s multifamily market has been steadily growing for some time. This remarkable rise has been spurred by the metro’s population growth, which in turn has been driven by the strong economy and affordable cost of living in Indianapolis. Apartment and condominium owners have witnessed rental rates climb throughout the city, according to the Indianapolis Business Journal. Business owners and investors see this as an opportune time to enter Indianapolis’s thriving multifamily market.
To help you find the best contractor to build your rental property, we gathered ten of the best multifamily residential contractors in Indianapolis. These contractors have built some of the best properties in the city, ranging from duplexes to boutique apartments, and even luxury condominium communities. These firms were evaluated based on their portfolios, their media presence, and their work history in the city.
10) NBA Builders
Website | 317-732-4277 | 4901 N Franklin Rd., Indianapolis, IN 46226
NBA Builders is an up-and-coming general contractor that was founded in 2007 by Pete Rath. Over the last twelve years, the firm has catered to clients in education, religious, and corporate sectors, but it does really well in the multifamily market. Its portfolio repeatedly showcases its understanding of its clients, having built communities with modern security systems, smart technology, and green energy.
In Indianapolis, NBA Builders has built multiple duplexes in varying architectural styles. Common themes include prioritization of space and allocation for extra amenities like home offices or creative studios.
9) Powers and Sons
Website | 317-269-2550 | 2502 Roosevelt Ave., Indianapolis, IN 46218
For over five decades, Powers and Sons has been offering its premiere general contracting services to clients in Chicago and Indiana. Its Indiana office is helmed by Mamon Powers III, who joined his father, grandfather, and uncle in running the company. He brings years of experience from a large general contracting firm, where he helped build projects in the $40 to $140 million range. Under his leadership, the firm has appeared in Business Wire, Purdue Exponent, The Chicago Crusader, and REBusiness Online.
The firm’s multifamily residential portfolio showcases its ability to build urban-styled communities that fit their environments. Powers and Sons is also capable of renovations of historical structures, often adding modern amenities to update these elegant spaces.
8) Gilliatte General Contractors
Website | 317-638-3355 | 2515 Bloyd Ave., Indianapolis, IN 46218
Gilliatte General Contractors started in 1985 in the garage office of Gerry Gilliatte. Over three decades later, it has grown into one of Indiana’s best construction firms. The firm is licensed in 38 states and has developed an expertise in commercial and multifamily contracting. The firm is a member of the Indiana Builders Association and has also appeared in the pages of Indianapolis Business Journal.
The Delaware on Delaware Street is one of the firm’s many multifamily projects in Indiana. The mixed-use building has allocations for retail and residential units, with studio units and one- and two-bedroom options. Gilliatte Construction also built a fitness center, a sky lounge with grilling stations, and a gated garage for residents.
7) Construction Planning & Management
Website | 317-842-8040 | 10053 Hague Rd., Indianapolis, IN 46256
Jerome H. Williams founded CPM Construction in 1980 to cater to clients in the hospitality, corporate, retail, and multifamily sectors. He remains active in the company as its president and is heavily involved in maintaining close relationships with loyal clients. Under his leadership, the firm is an active member of the Associated Builders and Contractors (ABC) and has even won Awards of Excellence from the industry organization.
The firm is behind the construction of Moonburn on Morton, built near the Indiana University campus. The community features modern living spaces, with studio and one-bedroom unit options. Each unit has granite countertops, accent colors, and LED lighting.
6) CRG Residential
Website | 317-575-9400 | 805 W City Center Dr. Suite #160, Carmel, IN 46032
CRG Residential is a specialist in the construction, renovation, and redevelopment of multifamily homes in the public and private sectors. The firm is headed by president Chris Reid, whose portfolio includes more than 20 years of experience in the multifamily housing industry. He is a member of the Apartment Association of Indiana and he also serves on the board of ABC. His excellence in the industry has allowed the company to grace the pages of Multi-Housing News, Indianapolis Business Journal, and Building Indiana.
The firm was hired by the Indianapolis Housing Agency to build 16 Park in downtown Kennedy King. CRG Residential built the apartment complex to accommodate mixed-income residents. The project features a community center, outdoor barbeque areas, and garage parking. The firm also includes sustainable features, like green roof technology and energy-efficient water heaters and furnaces.
5) TWG Construction
Website | 317-264-1833 | 333 N Pennsylvania St. Suite #100, Indianapolis, IN 46204
Established in 2009, TWG Construction is a general contracting firm specializing in the construction of multifamily and light commercial buildings. The company is headed by President of Construction Keith Colgan, whose resume includes three decades of industry experience. With his experience of building projects in the $250k to $350 million range, he has managed to secure key contracts across the Midwest.
Under Colgan’s leadership, the firm has built affordable housing, market-rate apartments and condominiums, and senior housing communities in Indianapolis. Its best work might be The Flats at Switch, a luxury mixed-use development with 102 residential units, retail spaces, and parking spaces. The $15-million project also features a fitness center, private patios and balconies, and outdoor grilling areas.
4) Stenz Construction Corporation
Website | 317-262-4999 | 429 N Pennsylvania St., Indianapolis, IN 46204
Founded in 1973, Stenz Construction has built an impressive resume as a full-service general contractor and construction manager. The firm has built for clients in the commercial, education, religious, healthcare, and multifamily sectors over the last four decades, and has also dabbled in the historic preservation and adaptive reuse of landmark buildings in Indiana. Its work has appeared in Indianapolis Business Journal and has also received awards from the American Institute of Architects and the Historic Landmarks of Indiana.
Among the firm’s best work is 429 on the Park. Built in collaboration with Browning Day Mullins Dierdorf, the condominium building follows a classic urban architectural style. Its exterior hints at the lavish interior amenities. 429 offers modern fitness centers, balconies, and stunning views of the city.
3) Turner Construction
Website | 317-829-7600 | 733 SW St. Suite #200, Indianapolis, IN 46225
Turner Construction is a national construction services firm with offices across the U.S. Its Indiana office opened in 1996, but it has been working in the state since the 1920s. It has built 21 buildings in Indiana for the U.S. Gypsum Company and also completed projects of all types and sizes for the hospitality, multifamily, and industrial sectors. In addition to working on these projects, the firm has also received recognition from Engineering News-Record, Building Design + Construction, and Giants 3000.
In Indianapolis, it collaborated with Domain Architecture to revitalize the Georgetown Apartments. The building was left unoccupied for a decade before the project began. The 94-room structure now features several community amenities, including green areas, a fitness center, and a play area.
2) CORE Construction
Website | 317-818-7667 | 450 E 96th St. Suite #500, Indianapolis, IN 46240
Otto Baum founded CORE Construction in 1937 as a masonry company in Arizona. Since then, the firm has grown into a national general contracting firm with multiple locations across the U.S. With 1,200 employees, the firm is capable of building for a number of sectors, including the multifamily residential market. Its work has been featured prominently in Engineering News-Record, Building Design + Construction, and Construction Review.
Weiss Entities hired CORE Construction to build The Lakes of Valparaiso, a three-level luxury apartment community with over 400 units. The upscale apartment offers modern community amenities, including a yoga studio, a fitness center, and heated pools with a wet ledge and lap lane. The units also offer elegant features like granite countertops, stainless steel appliances, and relaxation views.
1) Flaherty and Collins
Website | 317-816-9300 | One Indiana Square Suite #3000, Indianapolis, IN 46204
Flaherty and Collins has been in the business of developing, building, and managing multifamily properties for over 26 years. It offers its construction services to clients in the Midwest, where it ranks consistently as one of the largest private companies in the area. The firm has also won excellence awards from the Indiana Apartment Association and was recognized by the Indianapolis Business Journal as one of the largest real estate developers and contractors in the city. Its work has been featured in Multihousing News, Commercial Property Executive, and Bisnow.
In 2013, it completed the construction of Millikan on Mass, a mixed-use development that offers reduced rents for low-income tenants. Located in the cultural district of Mass Avenue, the apartment community offers easy access to hip shopping and dining locations. Flaherty and Collins built one- and two-bedroom units that vary between 675 and 1220 square feet. Each unit also has energy-saving features, including Energy Star appliances and environment-friendly water systems.