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TWG Development LLC is no longer pursuing the redevelopment of a two-acre property owned by AT&T near the busy intersection of College Avenue and Kessler Boulevard.
The local developer originally had wanted to build a five-story, $39 million apartment project with an underground parking garage that called for 205 units and 3,000 square feet of retail space.
TWG reduced the size of the project by one story and 51 units after residents in the Meridian-Kessler neighborhood objected.
But, on Tuesday, TWG’s vice president of market rate development, J.B. Curry, notified residents in an email that the company is “no longer going through with the proposed development” and that “the rezone petition will be withdrawn.”
TWG later confirmed to IBJ in an email that it is "no longer pursuing the redevelopment of the of site."
TWG had been prepared to present its petition to rezone 3.5 acres at 5858 N. College Ave. to the city’s Metropolitan Development Commission on Feb. 17. But the company requested a continuance until March 16.
Supporters of The Links at Kessler argued that it would bring much-needed residential density along a corridor that is part of a planned rapid-transit route running from Carmel to Greenwood.
TWG had agreed to pay $3 million to buy part of the AT&T property. The sale would have included the phone company’s office building and parking lot. A larger switching building to the north is not part of the package.
AT&T had hired the local office of Jones Lang LaSalle to coordinate the bidding process, which began in April.
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