New efforts underway by city to revitalize troubled Towne & Terrace neighborhood

INDIANAPOLIS — Metro police call Towne & Terrace one of the most dangerous parts of the city.

Abandoned buildings, drugs, murders and more have plagued the neighborhoods near East 42nd St. and North Post Rd.

In 2020, a woman was killed by a security guard.

Officers who escorted WRTV on the property recounted several stories of dead bodies being found.

The massive neighborhood was built in the 1960s and consists of more than 200 condominiums.

179 units are controlled by the Homeowners Association.

The City owns 71 and expects to take possession of four more by the end of the year.

After nine years of fighting in court against the HOA, the city can finally take action.

Thursday afternoon, Mayor Joe Hogsett announced an agreement has been reached to give the city a seat on the HOA board, have control of their units and allow Towne & Terrace Corp to emerge from bankruptcy.

That bankruptcy was filed in 2021 and halted all litigation.

As part of the agreement, the city will pay $218,000 to clear up any outstanding homeowners dues and fees related to the properties it owns inside the development.

The city is hopeful it can work with HOA to make the community a safer place.

What's next?

The agreement with the city goes into effect in two weeks.

The Department of Metropolitan Development plans to door knock on every single unit it owns and work with residents to figure out what they would like to see happen on the property.

This process is expected to begin within 30 days.

The mayor says there is still a lot of work to be done.

This story will be updated.