Multi-million dollar project planned for Mass Ave, only if Fire Station 7 relocated

INDIANAPOLIS (WISH) - The new project promises hundreds of apartments, retail space and a look compared to that of Times Square and it's all happening on Mass Ave.

It's scheduled to go up in the 500 block of New Jersey, which now stands the Indianapolis Fire Department Headquarters and Fire Station 7.

A project planned to bring in hundreds of thousands of dollars for the city and local business is expected to flourish.

“It’s a matter of growth, in other words without the development funds coming to the avenue we may stagnate and that would be a problem as well,” explains Don Elliott who owns The Frame Shop and Franklin Barry Gallery.

The proposed project will being in 235 apartments and 40,000 square feet of retail space, but Elliott does worry about the future of small shops like his.

“It's economics is that the rent is going to be so high it may not attract the smaller business man, and that's been a staple of the avenue, that there are some nice small businesses here,” says Elliott.

There is one hitch. Mayor Ballard says Fire Station 7 has to be relocated before it can break ground. IFD Headquarters is moving to the former IPS School 97 site. However the $43 million project is on hold until Fire Station 7 has a new place to call home.  

“That's the intent, that's the intent. We got to make sure everything is in place, we want to make sure, but that's the intent,” says Mayor Greg Ballard about the project waiting for the station to move.

The president of the development company, J.C. Hart Company, says the project has been a challenge, since it all depends on the fire station's future.

“This particular project will be a longer journey and it does wait longer. It does add a different element of risk because of construction costs might go up in that time period,” explains J.C. Hart, the president of the company.

A big part of the project is the City County Council passing the use of $3 million in TIF money. If the fire station is relocated in time, they plan to start construction in the spring 2014 and it can take up to 18 months until completion.