Work set to start on Market Square tower in October

August 14, 2014
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It’s looking like construction on Flaherty & Collins Properties’ massive Market Square project won’t start until at least October.

msa 225pxThe local developer received a big boost in March when the Indianapolis City-County Council voted 18-9 to provide up to $23 million in city financing for the $81 million, 28-story apartment tower, to be built on part of the former Market Square Arena site.

And in May, Flaherty & Collins received more good news, when specialty grocery chain Whole Foods agreed to anchor the 300-unit project by taking 40,000 square feet at the building’s base.

But getting a commitment from Whole Foods took longer than expected, CEO David Flaherty said, helping to push back the start date from summer to fall.

“The tower is so intricate from an architectural perspective, it has taken longer to get the plans to this point,” he said. “We’ve gone as fast as we could, but yes, it’s taken longer than what we would like.”

The project’s architect is the Chicago office of Baltimore-based RTKL Associates Inc.

Flaherty & Collins, however, actually has another hurdle to clear. The city’s Regional Center Hearing Examiner is set to consider the development’s design Thursday morning.

Because the site is within the Regional Center overlay district, the project needs to comply with Regional Center Urban Design guidelines and requires initial approval by the city’s hearing examiner.

Milliken Phase 2
                              No. 2 225 pxHere’s an update on the progress of a few other downtown mixed-use projects:

• Insight Development Corp., the development arm of the Indianapolis Housing Agency, is set to start construction “any day now” on the second phase of its Millikan on Mass project, said Bruce Baird, president of Insight.

Insight held a groundbreaking ceremony in late June and had hoped to get moving within the next month, but financing and building-permit approval took longer than expected, Baird said.

The developer is constructing the $25.4 million Millikan on Mass in two phases across from the Athenaeum at the intersection of Massachusetts Avenue and Michigan Street.

• Milhaus Development LLC’s design for a project at another major intersection of Massachusetts Avenue received approval Tuesday from the Indianapolis Historic Preservation Commission.

Milhaus College
                              project 225 pxPlans call for 42 apartments, 8,000 square feet of retail and 55 parking spaces on what’s now a parking lot at the southeast corner of College Avenue and East St. Clair Street, where Mass Ave. intersects the streets.

Milhaus added more brick to the building, moved the garage entry from St. Clair to Walnut Street, and extended the retail piece from College to St. Clair.

Construction could start late this year or early next year, Milhaus president Jeremy Stephenson, said.

“Clearly the market’s there,” he said. “We want to get going on it as soon as we possibly can.”

  • Great news
    This is all wonderful news. Love to see downtown Indy filling in.
  • Milhaus Development
    Any images of the final Milhaus development for the corner of St. Clair and Mass Ave? I'm glad IHPC was holding their feet to the fire on making changes to the design.
    • Milhaus image
      I'm working on getting a rendering from Milhaus and hope to have it added to the blog yet today.
    • Cheese Grater
      I really like the building, I just hope everyone calls it "the grater". All classic buildings have cool nick names, this one looks like a cheese grater.
    • Updated Tower Image
      Scott, any chance we could get an updated tower rendering? I assume it's changed (even if marginally) from the original contest winning images that we've all seen.
    • Renderings
      The approval can be found at this link.....
    • Milhaus rendering
      I've posted an updated Milhaus rendering for its College Avenue project. Joe, thanks for posting the links for Market Tower.
    • College
      I have to say I do like the retail space fronting College. Anything we can do to bridge that gap down to the east end of Mass is a good thing! --- At least until something is done with the bus depot.
    • How about this for a nickname?
      The deodorant stick
    • Turning right on St Clair
      Will the attempted right turn ban on St Clair from College remain after this new building goes in? I say attempted because most days I see it being broken at least once as I travel around that area.
    • Milhaus updates
      Improved street interaction, but upper half of building still has a generic, unappealing institutional feel to it.

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    1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

    2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

    3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

    4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

    5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.