INDIANAPOLIS (Inside INdiana Business) — The new majority owner of the historic Stutz complex in downtown Indianapolis has detailed plans to redevelop the property. New York-based SomeraRoad Inc. says the estimated $60 million effort will include a public Stutz car museum and event space, retail and dining offerings, and a coworking space.
SomeraRoad acquired the majority interest in the property from Turner Woodard in January. Founder and Principal Ian Ross says the goal is to create an “activated ground plane” that invites people to explore and enjoy the property.
“Our team has taken great care to learn the property’s history and develop a thoughtful design that celebrates its most unique architectural features,” Ross said in a news release. “We believe this project can be a catalyst for development on the north side of downtown Indianapolis that can blossom into a live-work-play district full of opportunities for all residents. This iconic building stands at the heart of this neighborhood, and we are delighted to share these new plans for it.”
As part of the redevelopment, SomeraRoad plans to create new office space, locally-curated dining and retail amenities, more than 21,000-square-feet of event space across three venues, landscaped pedestrian alleyways, fitness amenities and arts space.
For the office space, the firm says offerings will include suites for small and mid-sized businesses, starting at 2,000 square feet.
SomeraRoad says it is working with local and state officials to make the project happen. The firm aims to open its first phase of office space next spring.