$150M 'North of South' project moving ahead

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Officials are announcing details of a $150 million downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters.

Among the plans: a 148-room hotel, 320 high-end apartments, 40,000 square feet of restaurant and retail space, and a 27,000-square-foot YMCA.

As IBJ reported in June, local developer Buckingham Cos. proposed the mixed-use project, dubbed North of South. It will be built on land that now houses a parking lot north of South Street between Delaware Street and Virginia Avenue.

Lilly would be a "significant user" of the various amenities, Buckingham CEO Brad Chambers said in June.

Preliminary plans called for several buildings, four to six stories each, with street-front retail and concealed, shared parking.

Buckingham, one of the largest apartment developer/owners in the Midwest, has branched out in Indianapolis with mixed-use properties. The company is developing several properties surrounding its headquarters in the restored Stokely Building along North Meridian Street, and is shepherding a $20.5 million redevelopment of a former YMCA branch near IUPUI.

This story will be updated here.


  • Other Issues
    Why are we becoming so angry over a project that will in the end produce some long lasting jobs, an increase to downtown property taxes and revenue, and also bring more residents to a downtown still suffering from a commuter mentality. Last time I checked, The government is the only supporter of road projects which bring no lasting jobs and return negative investments to the local economy. Maybe we argue the wrong things. Put this in a perspective of long-term impact. I personally would rather provide financing and improvements for a project, almost unlike any other, to create a mixed use district in an underserved area of downtown than to build a wider highway.
  • stories
    how many stories will the hotel have?
  • Well...
    ... we have a picture now, at least. Does that mean additional details should be forthcoming?
  • How Much Taxpayer Funds?
    How much is the city/county/state providing for this project?

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