Strategic Capital Partners Continues Successful Avondale Meadows Re-development With Addition of New Health & Wellness Center
Health Net and YMCA will provide healthcare, fitness and education programs to residents
Indianapolis, Indiana, July 5, 2012 — Strategic Capital Partners, LLC (SCP) and the Meadows Community Foundation (MCF) will break ground on Tuesday, July 10 on a 70,000-square-foot Health & Wellness Center at Avondale Meadows. The nearly $20 million facility is part of a 100-acre neighborhood revitalization of the area near 38th Street & Meadows Drive.
The new Avondale Meadows Health & Wellness Center will include an 18,000-square-foot health clinic operated by Health Net and a 32,000-square-foot YMCA, and will be environmentally sustainable with an expected LEED Silver designation. The Center will provide early learning classrooms for children, as well as youth mentoring and family programs. In addition, the facility will serve as headquarters for the United Northeast Community Development Corporation (UNECDC) and the Meadows Community Foundation (MCF).
“The Avondale Meadows Health & Wellness Center will be unlike any in the country,” said Gene Zink, Chairman of SCP. “Cutting edge urban healthcare, combined with state-of-the-art fitness and education programs, will transform this neighborhood and its residents.”
Avondale Meadows has been designated a Medically Underserved Area (MUA) by the U.S. Health and Human Services Department. The Avondale Meadows Health & Wellness Center will assist more than 16,000 people who live in the area and are at or below the federal poverty level. Funding partners include the City of Indianapolis, Chase Bank, the United Way of Central Indiana, IU Health, the YMCA of Greater Indianapolis, Methodist Foundation, Health & Hospital Corporation of Marion County and Purpose Built Communities.
SCP partnered with Purpose Built Communities (PBC), an organization founded by Tom Cousins, Julian Robertson and Warren Buffet, to redevelop Avondale Meadows. The partnership is using PBC’s approach to break the cycle of generational poverty in urban areas by ensuring that housing, schools, human services, health care, recreation and all other ingredients necessary for a healthy community are incorporated in the Avondale Meadows redevelopment.
Current and planned features of Avondale Meadows include townhomes and single-family homes, mixed-income apartments, a grocery store and retail shopping, three award-winning educational institutions, a five-acre active use park, and numerous social and human services. For more information on Avondale Meadows, visit http://www.avondalemeadows.org.
Formed in 2005, Strategic Capital Partners, LLC (SCP) is a privately-held, real estate investment management firm that employs a value-added investment strategy of acquiring commercial and multi-family properties across the United States. SCP, through its Strategic Partners Value Enhancement Fund, Strategic Capital Partners Real Estate Opportunity Fund I, and Strategic Partners Urban Development Group, has invested more than $1 billion in total capital.