INDIANAPOLIS, Ind. (Inside INdiana Business) – The former home of Colonial Bakery is set to be remediated to residential standards and marketed for redevelopment. The city and Renew Indianapolis have been awarded a $345,000 Revolving Loan Fund subgrant through the Indiana Finance Authority with the State of Indiana to address contamination concerns within the historic property.
The site was used by the Colonial Baking Co. for warehouse storage, truck loading, and truck repair from the mid-1950s through the 1990s, and was in use until 2007.
The surface and near-surface soils on site are reported to be contaminated by heavy metals and petroleum compounds.
The grant will support the removal of 4,500 tons of surface soil and asphalt.
The remediation is being conducted by IWM Consulting Group, LLC, and is slated for completion by the end of this month.
“Today we are celebrating more than just the beginning of remediation for this site, but we are also celebrating what this site can be and how it will add value to the neighborhood once again,” said Emily Mack, Director for the Department of Metropolitan Development. “From the P.R. Mallory Campus to the former Naples Bulk Oil/Keil Brothers site, the DMD’s Brownfields Program continues to transform properties across the city.”