Developments are coming and going in Indianapolis all the time, but here are some outside Mile Square.
From Broad Ripple to Fountain Square and the Indianapolis Zoo, here are four projects coming beyond downtown Indianapolis.A mixed-use development is coming to the former Broad Ripple Kroger, at 6220 Guilford Avenue.
The project cost is $73.25 million and will be financed with $5.53 million in a developer-backed TIF bond, if approved by the city council.The city is exploring tweaking the city’s approach to affordable housing tax increment financing. Under the new proposals, developers would pay an impact fee of $750,000 to $1 million per project and the impact fee would go to the Housing Trust Fund.
The area median income distribution has not been determined yet, but Gershman said the units will be mostly market-rate.TWG is planning a project at the former Ivy Tech building on the near east side of Indianapolis at 1331 E. Washington St. The project, titled “Bakery Living,” will have 201 units, 175 parking spaces, amenities and 3,200 square feet of retail space on the city’s near east side.
The development, named LINK, is centrally located right along the Indianapolis Cultural Trail, near the crossroads of I-65 and I-70. Gershman is proposing 206 multifamily units, 210 parking spaces and 14,000 square feet of retail in one of the city’s premier retail districts — especially for small businesses. The apartments will be mainly market-rate, minus what the city sets aside for affordable housing.
Gershman said developers were attracted to the site because of its location right on the Indianapolis Cultural Trail.
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