CityWay

What CityWay does

CityWay is a luxury mixed-use apartment community located at 229 S. Delaware St. in the downtown Indianapolis Mile Square district, operated by Buckingham Management, LLC. The community offers studio, one-bedroom, two-bedroom, and three-bedroom apartments ranging from 537 to 1,877 square feet, with rents from $1,437/month to $6,180/month across standard inventory, the 15-floor CityWay Tower premium high-rise, and the CityWay 2.0 expansion phase. Residents access a substantial amenity package including two resort-style pools, two fitness centers (one with Peloton bikes), a movie theater, game rooms, golf and multi-sport simulator, bark parks with pet spa, community garden, EV charging stations, and a Pacers Bike Share Station, alongside an integrated on-site retail and dining mix (CVS, Taxman Brewery, Tupelo Honey, Plat99, Agave & Rye, Yolk, Market Table, Salon Lofts, Franciscan ExpressCare) and reciprocal access to the adjacent Irsay Family YMCA and The Alexander boutique hotel.

The underlying technology stack is built on the RentCafe platform from Yardi Systems for property management, online leasing applications, resident portal, rent payments, and service requests, supplemented by 360-degree virtual tours, an interactive property map for prospective residents, PetScreening.com for pet compliance, Flex for flexible rent payment scheduling, Google reCAPTCHA for spam protection, and OneTrust for cookie consent. The CityWay Tower adds a dedicated exclusive-access system with a private mailroom, lobby, rooftop lounge, and attached parking garage separate from the main community ingress.

The business operates a direct-to-consumer leasing model with no disclosed funding, no public listing, and no enterprise contracts. Revenue is generated primarily through recurring monthly apartment rentals with flexible lease terms (standard 12-month plus shorter flexible options), supplemented by parking fees (garage and private) and ancillary income from on-site retail partnerships. Marketing and distribution are executed through the cityway.com website with interactive content, the RentCafe listing network, virtual tour technology, on-site leasing offices with evening and weekend hours, and resident referral channels. The customer base targets young urban professionals and the downtown Indianapolis workforce, particularly employees of Eli Lilly, IUPUI, Simon Property Group, Cummins, Rolls-Royce, and Anthem, seeking walkable urban living with resort-style amenities.

Name

CityWay

Legal name

Buckingham Management, LLC

Website

https://cityway.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

501–1,000 employees

Short description

CityWay is a luxury mixed-use apartment community in downtown Indianapolis operated by Buckingham Management, LLC, offering studio through three-bedroom units and serving young urban professionals and downtown workforce employees with resort-style amenities and integrated on-site retail.

Ownership category

akta.pro rank

Product category

Luxury Apartment Rentals

NAICS

Accommodation (721)

SIC

Hotels & Motels (7011)

akta.pro primary industry

Urban serviced apartments (city-centre) (THAMACAA)

Keywords

• Luxury apartment rentals
• Downtown residential living
• Mixed-use apartment community
• High-rise apartment homes
• Urban property management

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Apartment Rental Income: Primary revenue from monthly apartment rentals across studio, 1-bedroom, 2-bedroom, and 3-bedroom units. Residents pay recurring monthly rent with flexible lease terms ranging from standard 12-month leases to flexible shorter terms. Additional revenue streams include parking fees (garage and private), and potential income from on-site retailer partnerships.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

CityWay is a luxury mixed-use apartment community in downtown Indianapolis that rents studio, one-, two-, and three-bedroom residences ranging from 537 to 1,877 square feet, including the premium CityWay Tower high-rise and the CityWay 2.0 expansion. The community combines residential living with curated on-site retail (CVS, Taxman Brewery, Tupelo Honey, Plat99, Agave & Rye, Yolk), the adjacent Irsay Family YMCA, and resort-style amenities such as pools, fitness centers, a theater, golf simulator, and pet grooming facilities.

Product overview

CityWay is a luxury apartment community in downtown Indianapolis offering a mix of studio, one-bedroom, two-bedroom, and three-bedroom apartments spanning from 537 to 1,877 square feet. The portfolio consists of two main sub-brands: the standard CityWay apartments featuring exposed brick, granite countertops, and modern finishes; and the premium CityWay Tower, a 15-floor high-rise with floor-to-ceiling windows and panoramic views. The recently launched CityWay 2.0 expansion adds resort-style amenities. Residents access extensive on-site retail and dining options, fitness facilities, pools, and pet amenities. The community is managed through Buckingham Management, LLC.

Differentiator

Problem solved

Functional benefit

Brands

• CityWay Tower: 15-floor high-rise tower within the CityWay campus featuring premium finishes, floor-to-ceiling windows, exclusive rooftop lounge, attached parking garage, and panoramic views of downtown Indianapolis.
• CityWay 2.0

Quantifiable outcome

• Flexible lease terms and 24-hour online services available
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Irsay Family YMCAcoreStrategic or Co-development PartnerAdjacent YMCA facility offering residents exclusive discounts and access. Residents receive special pricing for YMCA membership and fitness programs. The YMCA is located across the street from CityWay campus providing convenient health and wellness access.
• The Alexander (Hotel)minorOthersThe Alexander boutique hotel is part of the CityWay campus development, sharing the Bordwin/Alexander building. Residents have access to hotel-adjacent amenities and restaurant access. Hotel features art gallery accessible to residents.
• CVS PharmacyminorOthersFirst-floor on-site CVS Pharmacy location providing convenient prescription and retail services to residents.
• Taxman Brewery/Taxman BrewingminorOthersOn-site brewery/restaurant at CityWay providing residents exclusive discounts. First-floor retailer location within the development.
• Tupelo HoneyminorOthersUpscale Southern-inspired restaurant located at CityWay offering residents exclusive discounts. Part of new neighborhood retailers added with CityWay 2.0 expansion.
• Agave & RyeminorOthersMexican-inspired restaurant at CityWay with residents receiving exclusive discounts. New neighborhood restaurant addition.
• YolkminorOthersBreakfast and brunch restaurant located on-site at CityWay, offering resident discounts as part of exclusive retail partnerships.
• Plat99minorOthersUpscale restaurant and lounge at CityWay included in resident discount program. Located within the mixed-use development.
• Market TableminorOthersGrocery/dining option at CityWay offering resident-exclusive discounts as part of the on-site retail partnership program.
• Cultural TrailminorOthersCityWay is directly connected to the Indianapolis Cultural Trail, providing residents with safe outdoor walking and biking paths connecting to downtown attractions and neighborhoods.
• Flex (Flexible Payment)minorOthersFlexible payment options provider offered to residents for rent payment solutions, allowing alternative payment scheduling.

Scale indicators3 records

Recent moves6 records

Expansion highlights3 records

Broad incumbents

• AvalonBay Communities: National multifamily REIT operating luxury apartment communities across major U.S. markets. Comparable in operating model, premium urban product, and amenitized positioning; serves as a benchmark for institutional apartment operations at scale.
• Equity Residential: Large publicly-traded apartment REIT focused on urban and high-density suburban markets. Comparable in product offering (luxury urban apartments with extensive amenities) and target demographic (urban professionals), though at national scale versus CityWay's single-market focus.
• Greystar Real Estate Partners: Largest apartment property manager and operator globally, with significant luxury and mixed-use exposure. Comparable to Buckingham Management's operational role at CityWay; serves as benchmark for professional property management at scale.
• The Howard Hughes Corporation: Developer of large-scale mixed-use master-planned communities combining residential, retail, and office. Comparable to CityWay's mixed-use model integrating apartments with on-site retail, hotel (The Alexander), and dining; represents scaled mixed-use urban village development.
• Mid-America Apartment Communities (MAA): Multifamily REIT with strong Sunbelt presence and Class A apartment portfolio. Comparable in premium apartment operations, amenity-rich product positioning, and resident experience focus; provides public-market valuation and operating benchmarks relevant to CityWay.

Direct peers

• The Lennox Apartments: Luxury downtown Indianapolis apartment community offering high-end finishes and amenitized living. Directly comparable in target market, price tier, and product offering to CityWay's premium positioning.
• 360 Market Square: Luxury high-rise apartment community in downtown Indianapolis operated by Flaherty & Collins. Direct competitor in the same downtown submarket, offering similar unit types, premium finishes, and amenitized living targeting the same urban professional segment as CityWay.
• Axis Apartments: Luxury apartment community in downtown Indianapolis near the Mass Ave cultural district. Competes directly with CityWay for the same young professional and downtown workforce renter pool with comparable amenity packages and price points.
• Circa - Downtown Indianapolis: Luxury apartment community in downtown Indianapolis with strong amenity programming and proximity to major employers. Competes head-to-head with CityWay for downtown professional renters seeking premium urban living.

Others

• Buckingham Companies: Indianapolis-based real estate development and management firm, related to the operating entity Buckingham Management, LLC. Direct affiliation as the parent operating company of CityWay; comparable in property management approach and Indianapolis market expertise.

Market position

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/CityWayIndy
• LinkedInlinkedin.com/company/cityway

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CityWay