Indianapolis ‐ A new downtown apartment complex is just one of the first steps to bring more people and businesses to the area.

The Avenue, which stands on the site of the Old Fall Creek YMCA, features nearly 150 apartments ranging from 1 bedroom to 4 bedrooms.

Tenants will also have access to an internet cafe, a 24‐hour fitness facility, private study rooms, a pool and much more.

The project is about more than just creating a new place to live in downtown. It will play a key role in the city's 16 Tech initiative, which is aimed at attracting more high‐tech businesses to the city by bringing potential workers there.

“There's a lot of residential movement going on in this area of town, in this whole new area which we think is very important because we're trying to attract the sort of people in here, so that when 16 Tech really starts to move the companies will move in and hire these folks,” said Mayor Greg Ballard. 

Buckingham companies, which owns The Avenue, is also reaching out to the company by providing scholarships to several students at Crispus Attucks High School. They also partnered with Indy Parks to improve the landscaping and bike paths near the complex.

As the mayor alluded, The Avenue is just the beginning.  In fact, there are currently 31 residential projects in the works right now, which would bring another 3,200 units to the city.

The collective cost of all the projects, which includes houses, condos and apartments, is more than $480 million. It is all slated to be completed by 2017.