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Greenwood, IN – October 8, 2024 – Great Lakes Capital and CRG Residential, alongside Greenwood Mayor Mark Myers, CENTURY 21 Scheetz and Bradley Company, hosted a successful ribbon-cutting ceremony on Friday, marking the official opening of The Madison at Greenwood, a transformative mixed-use development set to redefine urban living in the area. Local leaders and stakeholders gathered to celebrate this milestone and explore the exciting future of this community centerpiece.
The Madison at Greenwood is a $92 million investment in Greenwood’s growth, featuring 329 luxury apartments, 18 high-end townhomes, and 18,400 square feet of restaurant and retail space. As the first fully for-sale urban-style townhome project in Greenwood, The Madison offers a unique opportunity for upscale urban living, an offering that has already sparked strong interest with the first townhome recently selling.
The fourth and final rental building recently achieved its certificate of occupancy, with the apartments approximately 80% leased and 70% occupied. With construction now virtually complete, interest in the commercial space, especially among restaurants, is beginning to surge. As falling interest rates create favorable conditions, the momentum for leasing and sales continues to grow, fueling optimism for the area's future.
“The Madison is more than just another development; it’s a statement about the future of Greenwood,” said Clay Scheetz, Managing Director and Principal of Great Lakes Capital. “We are seeing the pieces come together, from vibrant community amenities to bustling retail spaces, and we’re excited for what’s next.”
"I am excited to celebrate the grand opening of The Madison Townhomes, a major achievement for Greenwood,” said Greenwood Mayor Mark W. Myers. “This development highlights Greenwood's commitment to enhancing the quality of life for residents by offering new opportunities for business and housing that aligns with the city's vision for growth and economic development."
Tracy Hutton, CEO of CENTURY 21 Scheetz, echoed the excitement: “The Madison at Greenwood represents a significant milestone, not only for the community but for the quality of urban living it offers. We are thrilled to be part of this project, and the level of interest and enthusiasm we’re seeing shows the real impact it’s having.”
Beth Patterson, Principal and SVP of Bradley Company, together with her partner, Pat O’Hara, are excited to bring new restaurants and retail tenants to the project. “With millions invested in the Fieldhouse, surrounding infrastructure, and community amenities, The Madison has quickly transformed into a vibrant community hub. Now that construction is complete and the apartments are nearly 80% leased, interest in the commercial spaces—especially from restaurants—has surged. The completed townhomes and growing excitement around this development make it a prime destination for businesses looking to be part of Greenwood’s next chapter."
The Madison is poised to be a focal point of Greenwood’s revitalization, with vibrant residential and retail spaces that will enhance the area’s appeal and economic vitality. The luxury townhomes and apartments were showcased during the ribbon-cutting, providing a glimpse of the modern amenities and quality that distinguish The Madison as a key community asset.
