IBJNews

Keystone plans mixed-use project on Madison Avenue

Back to TopCommentsE-mailPrintBookmark and Share

A local developer is planning a $2 million mixed-use project for a vacant parcel along Madison Avenue just south of downtown Indianapolis.

The plans from Keystone Group call for a three-story building immediately north of a new Bureau of Motor Vehicles license branch at the southwest corner of Madison and Terrace avenues. The first floor would be leased for office or retail uses, and upper floors would be apartments.

The developer won zoning approval this month from the Metropolitan Development Commission after making adjustments to an early site plan, said John Bartholomew, a spokesman for the Department of Metropolitan Development.

The plans filed with the city show a second three-story building to the north of the one the city approved. Keystone will add the second structure, also with apartments and retail space, at a later date if demand continues to grow in the neighborhood, said Tara Acton-Shaver, property manager for the privately held construction and development firm.

The company is partnering with Concord Community Development Corp. on the project, which could provide a residential boost to an area that had been zoned for light industrial.

The apartment portion will include units set aside for a variety of income levels since some funding will come from the federal Neighborhood Stabilization Program, said Mark Flanary, Concord's executive director. He said the first building will cost about $2 million.

"A mixed-use project like this is invaluable for revitalizing our neighborhood," Flanary said. "The impact is going to be fantastic, especially with the retail portion. We're hoping to see even more mixed-use, and we hope to springboard off this project."

Keystone acquired the 2.8-acre, triangle-shaped parcel in 2009. It was then home to three vacant industrial buildings and a remaining wall from an old brick warehouse, which the company tore down.

The site is across the street from Sisters' Place Restaurant, and just south of Madison Plaza, a 180,000-square-foot office conversion project also by Keystone.

Before Keystone made changes to its proposal, city planners had expressed concerns about the compatability of the project with the neighborhood and the suburban-style arrangement of the proposed buildings, set back from the street with large parking lots in front. The proposed buildings also would be taller than what is normally allowed under city code.

ADVERTISEMENT

  • Whole Story?
    I'd venture a guess that Keystone didn't tell the MDC that they were using the open parking spaces in the lot at Madison and Terrace for overflow for the poorly planned Madison Plaza lot.
  • New Urbanism Rules
    About time MetroIndy (non-Hamilton County) using some intelligence in urban/suburban planning. A mixed-use development is much better than the separate zoning uses (commercial over here, residential over there, etc.) found out in the 'burbs that prevent any pedestrian/non-motorized traffic and community interaction.
  • Say what?
    No site plan showing this mixed-use building in the middle of a parking lot?

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. In reality, Lilly is maintaining profit by cutting costs such as Indiana/US citizen IT workers by a significant amount with their Tata Indian consulting connection, increasing Indian H1B's at Lillys Indiana locations significantly and offshoring to India high paying Indiana jobs to cut costs and increase profit at the expense of U.S. workers.

  2. I think perhaps there is legal precedence here in that the laws were intended for family farms, not pig processing plants on a huge scale. There has to be a way to squash this judges judgment and overrule her dumb judgement. Perhaps she should be required to live in one of those neighbors houses for a month next to the farm to see how she likes it. She is there to protect the people, not the corporations.

  3. http://www.omafra.gov.on.ca/english/engineer/facts/03-111.htm Corporate farms are not farms, they are indeed factories on a huge scale. The amount of waste and unhealthy smells are environmentally unsafe. If they want to do this, they should be forced to buy a boundary around their farm at a premium price to the homeowners and landowners that have to eat, sleep, and live in a cesspool of pig smells. Imagine living in a house that smells like a restroom all the time. Does the state really believe they should take the side of these corporate farms and not protect Indiana citizens. Perhaps justifiable they should force all the management of the farms to live on the farm itself and not live probably far away from there. Would be interesting to investigate the housing locations of those working at and managing the corporate farms.

  4. downtown in the same area as O'malia's. 350 E New York. Not sure that another one could survive. I agree a Target is needed d'town. Downtown Philly even had a 3 story Kmart for its downtown residents.

  5. Indy-area residents... most of you have no idea how AMAZING Aurelio's is. South of Chicago was a cool pizza place... but it pales in comparison to the heavenly thin crust Aurelio's pizza. Their deep dish is pretty good too. My waistline is expanding just thinking about this!

ADVERTISEMENT