Undergraduate students studying real estate at Kelley Indianapolis had the opportunity to reimagine use of a former prison complex in the city. Acquired by the city of Indianapolis in September 2024, the former Indiana Women’s Prison site located on the near east side has been vacant since 2017. Students worked in teams to propose development plans for the abandoned site.
Neighbors of the neglected site say it has an impact on surrounding blocks, lowering property values, and contributing to crime and safety issues, according to recent news accounts. The effort is part of the Shiley Real Estate Development Case Competition, which in its second year gives students an opportunity to solve a real-world real estate appraisal and development problem. The Indianapolis Department of Metropolitan Development is the case competition client.
Four teams emerged from the Real Estate Appraisals and Development course to present their plans at the case competition hosted by the IU Center for Real Estate Studies. They used the highest and best-use process to create development proposals that maximized the value of the site, considered the interests and priorities of the community, contributed to the revitalization of the neighborhood, and achieved acceptable returns for the developer.
First place team
Elliot Ball, Cesar Rivera Soto, Andy Sanchez Dominguez, and Thawng Thang
Project: “Re-imagining,” a mixed-use proposal featuring apartments, townhomes, retail, office, and green space that includes the Rhoda Coffin and Sarah J. Smith public park in honor of the women who led the creation of the Indiana Women’s Prison and the restored Historic Indiana Women’s Prison Chapel.
Jack Deckard, Mario de la Rosa, Ethan Martinez, and Brett Scrogham.
Second place team
Jack Deckard, Mario de la Rosa, Ethan Martinez, and Brett Scrogham
Project: “Reverie Place,” includes apartments, build-to-rent single family homes, townhomes, and green space with a community garden and the historic chapel renovated into a community center.
Third place team
Karl Bozek, Isaac Gordon, Chao Grindean, and Benjamin Kimmel
Project: “New Dawn Commons,” featuring apartments, townhomes, basketball and pickleball courts, and a restaurant in the restored chapel.
The Shiley Real Estate Development Case Competition was established through the generosity of Ralph and Cathy Shiley. A Kelley graduate in finance and real estate, Ralph is partner and chief investment officer at Scannell Properties in Indianapolis. Cathy previously worked in the pharmaceutical industry and earned a bachelor’s degree from the IU School of Education.
Real estate professor Sara Coers wrote the case upon which the competition is founded. Additional support came from:
Emily Scott, Piers Kirby, and Eddie Shei
City of Indianapolis Department of Metropolitan Development
Melissa Benton and James Taylor
John H. Boner Community Center
Joey Newsom
Willard Park Neighborhood Association
Mark Latta
City Rising
J.B. Curry
TWG
Josh Anderson
Anderson Bohlander
Sam Vonderau
DELV Design
Will Pritchard
Woodruff Place Neighborhood
Ralph Shiley and Jacey Stuckey
Scannell Properties
Troy Shiley
TwoPointO Investor Relations
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