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Fishers-based Arechiga Restaurant Group plans to open an upscale Mexican restaurant at The Union at Fishers District—a mixed-use real estate development that is set to break ground next year near Interstate 69 and East 116th Street.
Piedra in Fishers is expected to open in 2026 in a 5,000-square-foot space with an outdoor patio area as the second of Arechiga’s area restaurants to carry the Piedra name.
The first Piedra restaurant is set to open at the end of the year at the Bottleworks District downtown. That Piedra location will be on the first floor of the 120,000-square-foot, five-story flat-iron building nearing completion at the northeast corner of College and Massachusetts avenues.
Indianapolis-based Thompson Thrift Development LLC is developing the 10-1/2-acre The Union at Fishers District development, which is expected to include about 250 luxury apartments, 60,000 square feet of retail and restaurants, 150 hotel rooms, 70,000 square feet of Class A office space and an 800-space parking garage that will provide parking for residents and visitors.
“We are thrilled to welcome Piedra to The Union at Fishers District,” Ryan Menard, vice president of development at Thompson Thrift, said in written remarks. “Their commitment to culinary excellence and community engagement aligns perfectly with our vision for this vibrant mixed-use destination. This partnership represents a significant step in creating a unique and inviting gathering place for both residents and visitors.”
In 2022, the city of Fishers announced a major expansion at the $750 million, 123-acre Fishers District that includes the Union, the Commons (an 8,500-seat events center, dining, retail and entertainment options) and Slate at Fishers District (a $63 million multifamily and garden home community).
Piedra is the first signed lease at The Union, while three other spaces are nearing lease signings, and several additional spaces are being negotiated, Thompson Thrift announced Tuesday. The Union is expected to break ground in 2025, and the first tenants are expected to open in late 2026.
“This latest milestone brings together two great entrepreneurial spirits in Thompson Thrift and the Arechiga Restaurant Group,” Fishers Mayor Scott Fadness said in written comments. “We are very excited to see The Union at Fishers District come to fruition, and we celebrate the continued economic opportunity it brings to our community.”
Arechiga Restaurant Group, owned by Paul Arechiga, manages eight dining concepts in 14 locations across the Indianapolis and Chicago areas.
Arechiga opened his first restaurant, Verde Flavors of Mexico, in 2009 in Fishers. He subsequently expanded the Verde brand to Carmel (2017), the Ironworks Hotel in Indianapolis (2019) and Zionsville (2022).
Salsa Verde Mexican Restaurant and Taqueria opened in 2015 on the west side of Indianapolis, and Los Agaves Grill followed in McCordsville (2017) and in Westfield (2020). Last year, Arechiga opened his first fast-casual restaurant, Quesa Tacos, in Carmel.
In March, he opened his newest concept, Casa Santa, at Hamilton Town Center in Noblesville.
“Each location has their own thing,” Arechiga told IBJ earlier this year. “Me and my family, we always said the next one has to be better than the prior we just built, and we try not to repeat things.”
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I grew up in Indy and left in 93 to serve in the Navy. I remember when Hamilton County was just farmland. I came back home in 2010 and was like OMG things has really changed. Now in 2024 Hamilton County has a population of 360K and counting. I actually like the growth and how the area is developing. The way the area is planned out to grow is promising. No this isn’t Miami or Texas but you could live just as nice here as anywhere in the country.
Nice as either place you mentioned and growing and getting nicer Daily! I’ve lived all over America and that area can compete with any.
Growth or sprawl?