The city of Indianapolis plans to announce a major initiative to turn a stretch of 16th Street northwest of downtown into
a hub for biotechnology and other high-tech companies.
Develop Indy, an economic development group that receives public and private funding, sent media outlets an invitation to
an announcement at Bush Stadium on Thursday.
Officials from that group would not comment on specifics of the announcement.
City leaders have discussed converting the 15-acre Bush Stadium site, wedged between 16th Street and the White River near
Harding Street, into apartments as a component of the broader redevelopment initiative, dubbed 16 Downtown Technology District.
Nancy Langdon, Develop Indy’s executive project director for the initiative, and Brad Hurt, a Crawfordsville-based
economic development consultant, discussed some of its details last year in a committee meeting of the City-County Council.
At the time, they told the committee plans were to begin construction this summer.
According to meeting minutes, the initiative calls for transforming the area surrounding Bush Stadium and north of the IUPUI
campus into a work, live and play district that includes housing and other amenities. The goal in doing that is to attract
research firms, contract-services suppliers and technology companies to that section of town.
Plans for a technology corridor in that part of the city have been in the works since Mayor Bart Peterson’s administration.
In 2003, the city and two economic-development groups commissioned New York-based architects to create a “Framework
for a Research Community” for the area.
Mayor Greg Ballard formed a task force in November 2009 to study the area, and it made recommendations to the Metropolitan
Development Commission last summer.
Also last summer, the council set aside $3.6 million in the Department of Metropolitan Development’s budget toward
the redevelopment. That includes efforts such as streetscape planning, site development and environmental services, according
to the task force recommendations.
Langdon told the council committee last summer that Bush Stadium’s façade would be preserved and it would be
converted into apartments, with Indianapolis developer and preservationist John Watson taking the lead.
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City to roll out plan for 16th Street tech corridor
Francesca Jarosz
June 10, 2011
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The voters elected the Reps to make a vote not walk out on the vote. They had to the right to exercise their opinion and vote "no" to the bill. Let me ask you this if you walked out of your job for 5 straight weeks would you get paid? Would you even have a job to go back to? If any elected official walks out on the people they should be arrested for stealing tax dollars from the public. They were elected to do a job and not leave when the job gets stuff.
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I have been to several of their locations in Pennsylvania and always go in for 1 item and leave with a basket full of things. I'm very happy they decided on Indiana, now if only they would put the other store in eastside.
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Good luck. I'm sure more biotech areas will thrive as well as all the others.
I drive the area regularly (every 2 weeks or so) as I have clients in that area, so I am familiar with the look, feel, and redevelopment. By economic definition, of course the markets will rent at market rate--market rate is what puts supply and demand in equilibrium. The problem is the quantity demanded in that area is very low for a rate that will provide an ROI--the rate will not be close to downtown (like the canal area). And, if the city is ponying up more of our tax money to subsidize the development, then in essence it is subsidized because the developer does not need the same ROI to offset his capital investment--his capital outlay is less so rent can be less to provide his required rate of return. However, it has nothing to do with the developer, it has to do with the residents and neighborhood, and who from the city will frequent the area after development. I agree being close to IUPUI is a good thing, but again, students are not in a position to pay top rental money.