Waterstone is a very good, high-class apartment community on the West side of Indy. Good location, on the outside of 465 and close to Eagle Creek and convienent shopping and dining. These apartments may be priced somewhat higher but if you can ask about specials it might be worth it. It is a gated community and I do believe it helps keep out unwanted solicitors/guests. It has a nice pool, mostly quiet neighbors and neatly-kept grounds.
PROS: Convienent location, large apartments
CONS: Pricing, interstate noise if you're on east side of community