Sila Capital completed development of the 296-unit Apex at Perry Crossing apartment complex in Plainfield, Indiana, in the final quarter of 2022.
With a budget of $54 million, the unique configuration of the Class A apartments earned the project a 2023 CoStar Impact Award, as judged by real estate professionals familiar with the market.
Apex at Perry Crossing features two building types. One is designed to reflect a house rather than an apartment, providing private entry and an attached garage. The other maintains the standard style of a multilevel building. The combination caters to tenants in differing stages of life.
Outdoor amenities include a pool, hot tub, natural gas grills, hammocks, a dog wash and a pickleball court.
About the project: Apex at Perry Crossing at 2673 Appalachian Way boasts units in one-, two- and three-bedroom designs. The complex is just minutes from the Indianapolis International Airport and Interstate 70, which gives residents direct access downtown within 20 minutes.
What the judges said: “Apex at Perry Crossing brings much-needed housing to an undersupplied market. The lack of housing for the industrial workforce in Plainfield had caused a slowdown in industrial development. This much-needed housing will allow other development activity to continue, bolstering the industrial market around the Indianapolis International Airport,” said Sara Coers, associate director of the Indiana University Center for Real Estate Studies.
They made it happen: Felix Shalit at Sila Capital and John Tarr, area manager of The Garrett Cos. in Greenwood, Indiana, who manages the property for Sila Capital.