New shopping center east of I-65 in the works for Greenwood
GREENWOOD, Ind. (WISH) — A new shopping center is a possibility for a new development on Greenwood’s east side.
It’d be located at Main Street and Graham Road.
The developers are in the early stages for this property.
“There could be restaurants, other retail,” Greenwood’s Redevelopment Commission President, Brent Tilson said.
He is excited for the potential of the 19 acres on the southeast corner of Main Street and Graham Road.
“This area’s been dormant for years and there’s been large warehouse distribution centers that have been built up around here,” he said, “But to get the additional types of developments we want to support the neighborhoods to support the people that live here so they have amenities on this side of the interstate.”
Those amenities include things like shops, restaurants, and recreation.
Those are some of the possibilities that the real estate development company explained during a phone interview Monday.
They sent a spec drawing of one concept for the 19 acres.
They presented an outline to the RDC as well to ask for additional funding from the city.
“They’ve asked for the city to come forward with matching $300,000 of a $600,000 dollar initial investment on certain improvements,” Tilson said.
The entire investment is about three to four million dollars.
Tilson said the RDC would use TIF funds to help with infrastructure, like extending a road through the property.
“So we start to have amenities on this side of the interstate that will continue to spawn growth and support this area,” he said.
He also said it helps that there’s other development next to the Graham Road site.
A restaurant and distillery is set to be built next door.
“We’re very excited about this area and how we have the Dragon Rock Distillery that will be adjacent to this location which is a great new venue we’re looking forward to having in Greenwood,” he said, “And now to have additional retail and restaurants is really exciting.”
The next step for the project is a vote at the city’s next RDC meeting in March.