INDIANAPOLIS (WISH) — An advisory committee for Indianapolis Public Schools has recommended a developer for the former Coke Plant on Mass Ave. after months of consideration.
The recommendation is not final and still needs to be approved by the school board.
Some business owners told 24-Hour News 8 they welcome the development saying it will help to bring more jobs and opportunities for the thriving area.
Home Spun Modern Hand Made is one of many boutiques along Mass Ave. It opened about two years ago and sells a number of hand made goods.
“We get a lot of natural foot traffic here, we get a lot of tourists, we get a lot of people from all sides of the city. It’s kind of a central location,” said owner Amanda Mauer Taflinger.
Mauer Taflinger said business has been going pretty well with the area growing with new development.
“I’m excited. I mean I think we’ve all been kind of been waiting this is a big big deal for this area,” she said.
Mauer Taflinger said she’s been keeping up with the potential possibilities for the Coke Plant right across the street.
“Anything that happens there will be good it will be good for the city, but I would definitely like to see something unique and original, something that really adds to the community,” she said.
IPS could be moving one step closer to that possibility by selling the property to a developer. A real estate advisory committee for IPS recommended Hendricks Commercial Properties-one of five developers considered for the project.
“We recommended that project because it was the one that was the largest. It was a good price that they offered to IPS, it did not require any city subsidy,” said George Tikijian, part of the advisory committee.
The project is estimated to cost around $260 million to complete. It would include retail, apartments, condos, a boutique hotel, and a parking garage among other things.
“That site is one of the most important sites left downtown, so seeing that develop will add tremendously to both the Mass Avenue area to the Chatham Arc neighborhood,” Tikijian said.
IPS could sell the property to the developer for $12 million. The school board will vote on this recommendation on Thursday during a meeting.