Milhaus making room for more jobs In Indianapolis
INDIANAPOLIS — Real estate developer Milhaus is expanding its operations in Indianapolis. The company is investing $1.645 million in the expansion, which will create up to 250 jobs in the next five years.
The parent company of Milhaus Development, Milhaus Construction, Milhaus Management and Ineo, will lease and equip its new headquarters at 460 Virginia Ave. in Fletcher Place in order to accommodate its growing demand and workforce. Milhaus moved into the facility in May after re-developing the former 12,000-square-foot Shirley Engraving property. According to the company, this building is much more than just an office. It reconfirms its commitment to investing in and focusing on transitional neighborhoods where the company can make a significant impact. Milhaus was an early investor in the Fletcher Place neighborhood with its Mozzo project and now its corporate office.
While the company’s portfolio includes Indianapolis and Carmel properties such as Artistry, Circa, Maxwell, Mozzo and Penn Circle, Milhaus is experiencing significant growth in markets outside Indiana including Kentucky, Missouri, Ohio, Oklahoma, Pennsylvania, Tennessee and Wisconsin. The company anticipates having 20,000 units in 10 markets by 2020.
“We know our 20,000 unit, 10 market, $4 billion value goal is lofty,” said Tadd Miller, CEO of Milhaus. “But at our current pace, it’s not impossible to think we may exceed these goals. And with some of the recent additions to the team, as well as this support from the state of Indiana, we continue to build the capacity to make this a reality.”
Milhaus, which currently has 116 full-time employees in Indiana and 28 throughout the Midwest, plans to begin hiring for management, information technology, finance, sales and marketing, transaction processing and administrative support positions with average wages above the state and county average. Interested applicants can view open positions and apply online at www.milhaus.com/about/careers.
Established in 2009, Milhaus is a developer, contractor, owner and operator of Class A, urban infill projects in the top submarkets of the best secondary markets throughout the Midwest. They now manage a portfolio that just surpassed 24 properties housing 4,500 residential units valued in excess of $540 million. In 2014, Milhaus was recognized as an Indiana Company to Watch by the Indiana Office of Small Business and Entrepreneurship, and this year was named to Indianapolis Business Journal’s “Fast 25” list highlighting the company’s dramatic revenue growth of more than 650 percent in the last three years.
The Indiana Economic Development Corporation offered Milhaus up to $2.2 million in conditional tax credits and up to $100,000 in training grants based on the company’s job creation plans. These incentives are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. The city of Indianapolis supports the project at the request of Develop Indy, a business unit of the Indy Chamber.