Recession and Credit Crisis and Fishers and Funding and Mixed-Use and Hamilton County and NEWS TOPICS and Development/Redevelopment and Economy and Regional News and Zoning and Construction and Finances and Government & Economic Development and Real Estate & Retail

Fishers tables $100M development

November 24, 2008
An Ohio developer and the town of Fishers have agreed to cancel a 2007 development agreement that called for a $100-million mixed-use project featuring 250,000 square feet of retail space and 150,000 square feet of office.

In a statement, the city and developer, Fairmount Properties, blamed the project's failure on the economy, tight credit markets and worries about the ability to acquire needed properties "without the town's assistance with eminent domain."

The project along 116th Street near Interstate 69 would have required the demolition of about 125 homes. It was originally slated to break ground last spring.

The town of Fishers plans to hold public meetings to discuss what to do next.
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