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City of Fishers officials on Thursday announced plans for two major development projects in the downtown district—a $90 million age-restricted luxury apartment building called CityView and a $32.5 million “urban village” named District South that will be anchored by a new headquarters for Indianapolis-based multifamily developer The Annex Group.
CityView, as proposed by the HighGround subsidiary of Carmel-based developer Hageman Group, will be a six-story building along East 116th Street at Lantern Road. Plans call for 184 apartments for residents 55 and older, 16,000 square feet of first-floor commercial space and a 280-space parking structure with electric-vehicle charging stations.
HighGround hopes to break ground on CityView in February 2024 and complete it by spring 2026.
Hageman Group and its affiliates have developed several large apartment-based developments in the area, including Spark in Fishers, the Barlow in Plainfield, the Levinson in Noblesville and the Linc in Valparaiso.
“Our age-qualified communities are purpose-built and designed around the lifestyle of active 55+ residents,” said Tom Dickey, president of HighGround, in written comments. “CityView living promotes an authentic, connected experience uniquely suited for building relationships, health and wellness, entertainment, and convenience.”
A proposed economic development agreement calls for the city to support the CityView project by issuing up to $25.7 million in developer-backed and city-backed bonds.
District South is a redevelopment project by Rebar Development that is expected to replace six “vacant, blighted” properties on the south side of South Street between Lantern Road and the Nickel Plate Trail, about two blocks south of 116th Street. The development calls for five buildings totaling 133,320 square feet.
The village will be anchored by a four-story mixed-used building that will be used as a headquarters for The Annex Group, which was founded in 2006 and develops workforce, affordable and student housing communities across the country. The company plans to relocate from its office at 409 Massachusetts Ave. in Indianapolis.
Annex Group is expected to relocate 83 or so employees making an average salary of $94,000 to the new headquarters and hire 40 more employees by the end of 2027.
Kyle Bach, CEO of The Annex Group, said his company added more than two dozen employees in 2022 and needs more room.
“With ample amenities that are a great match for both our team and company culture, Fishers is the ideal location for our new headquarters,” Bach said in written comments. “Our team has grown substantially over the past few years. A larger office space will allow us plenty of room to collaborate with our existing team and grow in the future.”
District South plans also include seven small-business retail units, 38 loft residences, a fitness center, cafe lounge, shared conference room and a civic plaza and courtyard. The village also is expected to contain 44 apartment units.
A proposed economic development agreement calls for the city to support the District South project by issuing up to $9.4 million in city-backed bonds.
Rebar expects to break ground on District South in fall 2023 and begin welcoming residents and businesses in early 2025.
“District South will be a thriving urban village with an inspired mix of office, small businesses, high-end residential, and an outdoor plaza, all anchored by an industry-leading company in Annex Group,” Shelby Bowen, president of Rebar Development, said in written remarks. “With direct connections to both the Cheeney Creek Trail and Nickel Plate Trail, District South offers a walkable, bike-friendly, pet-friendly neighborhood for our residents, tenants, and visitors.”
The Fishers City Council is scheduled to vote on economic development agreements for both projects on Monday.
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How much will it cost to park there?
Wow.
Full stop
Any worries about traffic congestion?
There’s no money to be had in fixing traffic.. And when you’re as color blind as fishers dpw is, they only see “light on” & “light off”… Who cares what it really means
By “blighted” Scott’s financiers mean “not shiny boring boxes that look like everything else”… How many more ‘5 over 1’ type buildings is fishers gonna get? Just how many insurance sales, pizza joints, cross fit, home decor, and online banking offices, are really needed? What happens in 15 years when no one wants to be near these behemoth overpriced cheaply built buildings?
They have drunk the New Urbanism Kool-Aid, big time. Add to that PPP (aka public money for private development) and you will get oversaturated with “5 over1” buildings. Reminds me of the 80s when “flex space” was so overbuilt that not another square foot of it was built for over a decade. Developers get a formulaic idea of what works and they will drive that into the ground until the market forces finally take over and the first downturn comes along and all of a sudden there are no more 55+ people willing to pay the high rents of “luxury” apartments, or Millennials to pay $1200 for a studio or one bedroom. It will come, even to Fishers and Carmel. When public money is used for private development, risk is lowered and market forces are largely ignored. Where are the market studies for all this development? I believe it will come sooner than 15 years, Chris H. The developers will take their profits (from taxpayers) and be long gone when all this goes south. It’s not a question of if but of when. I predict 2 to 5 years.
Yup. Spot on.
Why do all these new buildings, whether in Carmel, Fishers, Noblesville all look the same? The architects need a little more imagination. Maybe a return to more traditional architecture that won’t look updated in a decade would make some sense.
You might look at this Wendover Productions — It’s about being lazy in design, code enforcement, being cheap to build, and already designed for myriads of communities… Welcome to Fishersby’s — the “Local” community…
https://youtu.be/UX4KklvCDmg (Why Everywhere in the US is Starting to Look the Same)
If developers are going build, why not have unique architecture designs that stands out and make people appreciate the sites? Carmels MIDTOWN sort of gives an example of mix architecture designs, especially around Cake Bake Shop. Kinda of give you an European street style. I would suggest Fishers do the same.
+ 1
Unique artistic architecture is needed badly throughout Indianapolis.
There is no creativity and everything just looks bland & boring.
The real estate market as a whole has it’s arms tied behind it’s back. Everyone is talking trash about the 5 over 1 designs (agreed it’s not great) but try to build anything else and actually make $$$. You can’t right now. Interest rates and high prices command boring luxury apartments and expensive SFH. Nothing else makes any money. See any affordable houses being built? Nope, home builders would go broke building them. Nothing is cheap right now. Creative designs = higher cost. It’s part of the market cycle and not much can be done about it given our shortage of housing.
You make some very good points and people on the outside looking in don’t understand all the regulations and financing headaches a developer goes through to try to build anything, let alone something unique and different. Can you imagine how much it would cost any city to build anything similar to monument circle in Downtown Indy?