City looks to buy Drake apartment building

The city of Indianapolis is trying to acquire a historic apartment building on Indianapolis’ north side.

The Drake is an eight-story, 1920s apartment building on the campus of The Children’s Museum of Indianapolis. The building, which is owned by the museum, has been vacant since 2016.

The Department of Metropolitan Development is requesting more than $2 million to buy the Drake and other potential property on the North Meridian corridor for affordable workforce housing. 

Future development for the Drake has been in question, as the museum and the city are still locked in a legal battle over the historic designation of the building.

But the city says recent conversations with the museum have been productive. Department of Metropolitan Development Director Scarlett Andrews said the city received interest in the site after a request for ideas.

“From a housing perspective in particular, so we're seeking fiscal appropriation from the CIty-County Council,” Andrews said.

The move aligns with the department’s aim to increase transit-oriented development.

“I think there’s some key opportunities to increase the density of housing, especially affordable housing and workforce housing along the Red Line,” Andrews said.

Contact reporter Jill Sheridan at jsheridan@wfyi.org. Follow on Twitter: @JillASheridan.