Downtown Indianapolis is booming, and with all the investment happening in our City, there are a lot of projects to cover. So, please indulge me over the next few weeks while I write about new development happening in 2015 in the Circle City. This week’s post focuses on one of Downtown Indy’s most up-and-coming districts: Market East.
Currently Under Construction
The Downtown Transit Center is currently under construction on the corner of Delaware and East Market streets. IndyGo has installed a camera high above the City County Building so we can watch the construction in real time. The target opening date is set for fourth quarter 2015.
Milhaus Development is busy building in Downtown Indianapolis. Currently under construction in Market East is Mentor and Muse, Artistry’s sister properties along Market Street. This $28 million investment will bring an additional 242 apartments and 20,000 square feet of commercial space. The project will be ready for occupancy in summer 2015. In my opinion, the most creative deal of 2014 goes to Milhaus for the 54 unit project that will be built adjacent to the city owned parking garage on the north side of Market Street, between New Jersey and East Street. The developer purchased the land from the City for $1 and is seeking no additional subsidies to develop the land, but will spend millions of dollars and is breaking ground in February.
Local developer Flaherty and Collins will begin the long process of converting the former home of Market Square Arena on the corner of Alabama and Market Street (currently a parking lot) into a 28 story apartment tower with a Whole Foods on the first floor. This development will take up to 2 years to construct, but will feature 300 apartment units, a 550-space garage and retail options.
In January, Cummins Distribution Headquarters will begin moving dirt across the street from the Tower. The design of the 10-story building received great reviews from the local architecture community. The building will face Market Street, east of Alabama street. In total there will be about 15,000 square feet of retail space on the first floor of each building.
On The Horizon (and accepting additional funding capital!)
Last year, CICF sponsored a design competition that asked design professionals to re-imagine the south plaza of the City County Building. Twenty three proposals from across the world were submitted. The winning design has three distinct areas that create a large open lawn space, a central water feature and a commercial structure component adjacent to a landscaped area named “The Grove.” The design incorporates active and passive spaces for all ages. There will be art intermixed throughout several different spaces in the plaza. A large interactive fountain will provide an engaging area kids, and this will be converted to an ice rink during winter. The plaza pays tribute to the old courthouse, with a soft red outline of the building and symbolic steps near Washington Street.
City Market South Plaza
This is another example of great public space that could use a facelift. The team over at City Market is working hard on fundraising efforts to execute a plan in 2015 that will revitalize this public space.
Plan 2020 has brought a renewed energy and focus to this beautiful building. City officials are working hard on the the future of this building that will bring a new use to the mix, while celebrating the architecture and history of this building. Stay tuned for an exciting development that will complement all of the investments that are underway in Market East!
City officials have selected the winning vendor that will design, build and run the Marion County Criminal Justice Complex on the site of the former GM Stamping Plant. Moving all the justice system providers out of Market East will open up incredible opportunities to continue to reimagine this district. The proposed consolidation and move will need to receive City County Council approval before the construction can begin. Downtown Indy will work with the City to develop a land use plan and a parking study so when construction is complete across the river in 2018, Market East doesn’t miss a beat.
Check back right here for updates on new restaurants, distilleries, condos, apartments, music venues, hotels, the Downtown Canal, maker’s space and more.