Indianapolis, Indiana – A long-vacant 10-acre site in Greendale is being turned into housing at a time when Southeast Indiana has set an ambitious target: 1,800 new homes and 5,000 additional residents by 2030.
The Copper Creek Apartments project will add 176 market-rate units in Dearborn County, giving the region a sizable piece of that housing goal in a single development. State officials are presenting the project as part of Indiana’s broader effort to expand housing choices through the Regional Economic Acceleration and Development Initiative, or READI.
The $35.6 million development is being built near Interstate 275 in Greendale. Plans call for nine three-story buildings with one-, two- and three-bedroom apartments. The project received a $2 million READI 2.0 award, while the Indiana Economic Development Corporation committed up to another $2.7 million through Redevelopment Tax Credits for site development needs.
Infrastructure and development work began earlier in 2026, and vertical construction is now underway following a ceremonial groundbreaking. Pre-leasing is expected to start in mid-2027.
“Indiana’s population continues to grow, and we’re making sure quality and affordable housing is available to meet that growth,” Gov. Mike Braun said.
Although the apartments will carry market-rate rents, state and regional officials say the additional housing supply addresses an important need as communities in Southeast Indiana work to attract and retain residents.
Copper Creek will also include parking, a clubhouse, event room, exercise facility, swimming pool, dog park and pet spa.
For the six-county Southeast Indiana READI region — Dearborn, Franklin, Ohio, Ripley, Switzerland and Union counties — the development also fits into a much larger growth strategy. The region has received $25 million in matching funds through READI 1.0 and READI 2.0, along with additional support from Lilly Endowment Inc. grant funding. Indiana’s statewide READI initiative represents $1.25 billion in regional development investment.
Greendale Mayor Vince Karsteter said earlier READI funding helped modernize the region’s wastewater treatment plant, creating infrastructure that can support projects such as Copper Creek.
Bill Schirmer, president of the Southeast Indiana READI Board of Directors, called the groundbreaking “a significant step” toward the region’s 2030 housing and population goals.
More information about the statewide program is available through Indiana READI.
