The decision to buy the privately owned property came after seeing the swiftness with which developers have moved to acquire thousands of acres near the Indianapolis Regional Airport for their own projects.
Experts are optimistic that the property’s redevelopment will spur growth in housing and entertainment, but the industrial site’s environmental and historical factors must be considered in the aggressive timeline set for Eleven Park.
The council approved the project on June 14 by a 4-3 vote following months of debate between the council and the Boone County Commissioners.
According to the proposal, the townhouses would be built on 8.83 acres of land at the northwest corner of East 116th Street and Spring Mill Road.
Before purchasing their Meridian Street home, Jakob and Colette Wiesen lived almost directly behind it, on Illinois Street. During those years, they sat in their backyard and imagined what they might do with the beautiful 1927 Mediterranean Revival home and yard they could see.
The redevelopment of what is now an 18-acre manufacturing site downtown is expected to include apartments, a hotel, an office building and retail space—in addition to a 20,000-seat stadium. Keystone Corp. CEO Ersal Ozdemir said the project’s cost will likely top $1 billion.
Sojos Capital said it has already begun multiple upgrades to the property, including replacing the roof, changing HVAC units, interior and exterior painting, and additional security enhancements.
Late this year, the company—founded in 1945—will move into a new, 200,000-square-foot headquarters as the anchor tenant of Electric Works, a massive redevelopment of a 39-acre historic campus in the core of Fort Wayne that housed General Electric Co. until it closed in 2014.
The Noblesville City Council heard proposals this week for two separate residential real estate developments that would create nearly 130 new residences in the city, including more 75 high-end homes near a golf course and 50 affordable-housing options.
The team behind the proposed redevelopment of the Willows Event Center into apartments near Broad Ripple has withdrawn its proposal, just hours before it was set to be considered by a city commission.
Gershman and Citimark’s project includes a different look and a new use for the Gold Building and construction of an 11-story building to replace the east wing of the Indianapolis City Market.
In 2016, the Food Network selected Kountry Kitchen—which was destroyed by fire in 2020—as one of the best soul food restaurants in the United States.
Promontory of Zionsville would include 80 homes ranging in cost from $1.5 million to $4 million.
The Steadman will sit on 12-1/2 acres of land northeast of Spring Mill Road and East 111th Street.
Integra Builders has held the one-acre lot at the southwest corner of North Park Avenue and East North Street since January 2020, when previous owner Litz & Eaton Investments LLC sold the site as part of a messy split between the firm’s principals.
The Metropolitan Development Commission gave unanimous approval to The Alexander at the Crossing project despite heavy pushback from neighbors. The proposal will next be considered by the City-County Council for final approval.
Hyde Park Towns and Flats would be built on 17.4 acres of land west of Hamilton Town Center at the southwest corner of East 141st Street and Brooks School Road.
The home, constructed in 1940, sits in a 4.3-acre wooded, gated estate at 9950 Spring Mill Road. The 12-room house includes five bedrooms and offers panoramic views.
The complex at 4822 E. Edgewood Ave. would consist of 280 apartments and 96 townhomes, as well as four commercial outlots. But the nearly 20-acre footprint needs to be rezoned.
The siblings who own soon-to-close Willows Event Center on Spirit Lake want to redevelop the site into more than 250 apartments and town houses.
