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Real Estate & Retail

Browning plans apartments for Broad Ripple property

April 3, 2013
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Broad Ripple Shell station 225 pxLocal developer Browning Investments is poised to submit new plans for a key piece of real estate it previously pitched as a potential site for the Broad Ripple parking garage project. Jamie Browning, a principal of Browning Investments, told IBJ Wednesday that the firm is proposing a mix of 60 to 70 apartments and commercial space on 1.9 acres on the northeast corner of College Avenue and the Central Canal. The development would replace a closed Shell gas station (shown above) and a handful of older apartment buildings on the site, bordered by College and Carrollton Avenue. Browning had been set to present its plans to rezone the property April 11, but the developer has received a continuance from the Metropolitan Board of Zoning Appeals due to the lack of a site plan. Jamie Browning said the firm has the property under contract but declined to discuss further specifics until it presents plans to the city. A rendering of the project should be available within the next week. Browning Investments was among several developers vying for the Broad Ripple parking garage project before city leaders ultimately chose Keystone Construction. Browning had proposed a $24 million project called Canal Pointe that would have had 185 apartments, 18,000 square feet of retail space, and 544 parking spaces. Keystone’s parking garage features retail space on the ground floor. It’s located at the southwest corner of Broad Ripple and College avenues.

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