Fishers announces $47 million redevelopment project
FISHERS, Ind. (WISH) – A proposal for a $47 million redevelopment project for the Nickel Plate District was announced Thursday.
The project features a three story office building located on the northeast corner of North and Maple Streets, a 500 space parking garage, and a mixed-use building on the northwest corner of North Street and Lantern Road.
The City Council will discuss the project at Monday’s council meeting.
“This redevelopment project really raises the bar for our entrepreneurial city,” said Fishers Mayor Scott Fadness. “A creative development like this one, that meets the needs of small business owners and establishes much-needed office space in the Nickel Plate District, brings significant value to our downtown and furthers the ecosystem in which entrepreneurs can thrive.”
A consulting engineer and architect firm, RQAW Corporation, plans to invest $4 million to relocate their headquarters and up to 60 jobs to the building once complete.
The 500 space parking garage is planned to be reserved for employees from Najem and RQAW, as well as residents from the mixed-use building. Those who visit the Nickel Plate District will have access to the parking garage on evenings and weekends.
The mixed-use development will have 240 residential units and 5,000 feet of commercial space.
“The live-work concept is unique to Fishers, but has worked well in other forward-thinking cities,” said Scott Baldwin, principal at Envoy, Inc. “Situated near Launch Fishers and in the heart of the vibrant downtown, the development is designed to meet the needs of young, entrepreneurial talent in Fishers.”
The Fishers City Council will consider an economic development agreement for the project on June 20 that totals $16.5 million and covers the cost of the land, construction of the parking garage and surrounding hardscapes and waiver of fees.