IPS reviewing bids for old Coca-Cola building downtown

INDIANAPOLIS (WISH) — IPS officials and members of the district’s real estate committee met Wednesday to discuss the future of the former Coca-Cola property on Massachusetts Avenue.

IPS received six bids from developers for the property last week.

The bids are all similar in that they include a mixed use type development with retail and living space.

The superintendent says more factors will be considered besides just how much money the companies are offering.

“This is not simply a numbers game; this is something that we will have our footprint on in terms of benefit to the community and again to IPS,” IPS Superintendent Dr. Lewis Ferebee said.

The committee will take a few weeks to review all aspects of these bids and then make a recommendation tot eh IPS board.

That could happen as soon as March.