Check out new rendering of the $20M Ironworks project

June 6, 2012
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Ironworks IndianapolisA Wisconsin developer has scaled up its plans for the southwest corner of East 86th Street and Keystone Avenue across from The Fashion Mall at Keystone. A new version of the proposal from Hendricks Commercial Properties calls for a four-story “L”-shaped building with about 30,000 square feet of restaurants and retail on the first floor and 90 high-end apartments on the upper three floors. The plans call for an urban-style layout with the building abutting the intersection and surface parking for shoppers and diners behind. An underground parking garage with about 100 spaces would accommodate residents of the development, dubbed Ironworks at Keystone Village. The project likely would cost $20 million to build, industry sources said, and is far more ambitious than an earlier proposal that called for a small retail strip, a few outlots for restaurants and a possible hotel. The goal: land a restaurant anchor that would take up to 10,000 square feet and round out the mix with more fast-casual restaurants and a variety of other retail users, said Sitehawk principal Mark Perlstein, who is handling leasing. Check out the full story here. (subscription)

Blog bonus: Click for a second rendering of Ironworks, showing the opposite side of the proposed building, here.

  • Downtown should take notes
    "The plans call for an urban-style layout..." downtown needs to take notes, this is more architecturally sound for downtown, not more EIFS, like Block 400 and the Canal "dorms" of eifs and brick. TAKE NOTES!!
  • Boring!
    This seems very boring and more like an office building than a mixed use retail/residential.
    • 16th/Central
      Can we just move this to 16th and Central, expand the anchor tenant space for Kroger and call it a day? This is EXACTLY the configuration that site needs: housing above, tenant parking below and surface parking for customers behind.
    • Boring...agreed
      Boring is exactly what I thought. Why is Indianapolis the city of boring architecture. Why doesn't anyone want to take a chance to build a building that makes people want to come to the city to see it...such a waste.
      • Boring
        Because the city of Indianapolis is not progressive... that boring projects continues to prosper and prop themselves up as reminders of why Indianapolis lags behind trends... Pathetic. I used to have high ambitions for the city and I still DO expect more than ridiculousness like this and the rest of other upcoming projects planned...
      • Well...
        ... I'm not exactly sure what some of your expert qualifications might be, but this seems like a pretty solid project for that location. I don't find it to be boring at all. I'm no architect, but having lived in Miami and Los Angeles for the past several years, I can say that this project would fit in nicely in either location. Not sure what all the complaints are about.
      • Looks Great
        I think it's awesome. No it's not inspired architecture, but it's pretty slick looking all the same. This is the suburbs afterall and I think it's superior to anything else around there, so this is an improvement. I'm so happy they got more ambitious with this project. Hopefully the Neighborhood associations won't raise a fuss.
      • Really? Boring?
        I live in Illinois, and just happened to see this article. So here is my impression of people in Indianapolis: 3 out of 7 think it is boring. 4 out of 7 think it is great. To the three of you, let me ask: Why would ANY business come to your city and spend $20 MILLION dollars if almost half of the people in your town are going to complain about the design? Personally, I would take my $20 MILLION and go someplace else.

        So here is just a thought: you have a brand new building, that is multi use, and someone that is willing to spend $20 MILLION DOLLARS. Embrace it!!! Welcome it!!! And if it works, HOPE that others will come. To PJ, Ray, and Dustin, I ask if you realize the developers of this projects and others to come will be reading this article and your petty comments. Do you want your crying and complaining about the design of the building to be the basis for their decisions?

        Do you have ANY idea what steps developers have to go through to get the design of a building approved?

        I really hope that if this developer and others walk away from from your city that complains about a $20 MILLION DOLLAR PROJECT, that they come to MY CITY. We would welcome them with open arms. Jobs for contracts, jobs for employees, new housing, etc.

        WOW - this is the type of thing that virtually EVERY city in this County would LOVE to have, and first three out of five people that post, are complaining about the design.

        Last question to those boring responders: what have YOU done to encourage new developement or work WITH your city to encourage NON-BORING designs? It's just a guess, but are you enjoying a boring life, making boring contributions to your community, not wasting your time with boring volunteer work or boring promotions of your city?

        Just a thought from a guy that hopes this developer and others are not BORED with spending $20 MILLION DOLLARS in your city.
      • It's about right...
        Based on the surrounding architecture in this area, this proposed development seems about right. The scale, exterior color, and idea seems to be cohesive with the surrounding environment. I'm not sure I'd want to rent an apartment right there though. Traffic can sometimes be congested at that intersection. However, with proper planning, they can probably route that off of Keystone, rather than 82nd. As for the comments about something similar going in at 16th & Central...TOTALLY AGREE! And John from IL...very good points. The investment is nice, and people in Indy (heck...practically anywhere) are quick to complain, but very rarely offer solutions.
      • Boring?
        I agree with John from Illinois. In this awful economy, there is nothing "boring" about someone from Wisconsin who wants to spend $20M to develop a project in Indianapolis that will put a little life back into the local construction industry, while providing good leasable space for housing, retail, restaurants, etc.

        The word "boring" is typically used by "boring" people who have nothing to contribute to their community but their petty complaints.
      • More Apts???
        Is there no end to the building of high end apts & condos on the far Northside & Carmel? Will someone tell me the acutally occupancy rates - I pass dozens of the 3-story high denisity buildings and the parking lots are empty and no signs of life - really???? We need 90 more? What's going on with the high-end apartment homes across the street in the Sheraton at the Fashion Mall? Just curious about the sale-ability of such things. (And it DOES look like an office building!) Traffic nightmares come to mind, as if the Fashion Mall area wasn't already bad enough.
        • Could use a better site
          Perhaps this is the result of having an out of state developer but I find the location of this project to be a disappointment. That part of "Indy" is already over saturated with commercial development. I can think of many sites downtown that could really use an influx of mixed-use development. It's no wonder people can't be excited about a project that packs more of the same into an already overly developed area.

          As far as the residential component is concerned, good luck with that. I can't imagine anyone actually wanting to live along there. Mixed-use is generally intended to be part of a walkable community. Ever try walking anywhere up there? Good luck with that.
          • Walkable
            The Nora area (just a few blocks west of this development) is very walkable and on the Monon. Anything east of this area is lacking in sidewalks, ect, hopefully this will be a catalyst for a more walkable area.
          • Sheraton
            Someone mentioned Sheraton. I work in that office complex behind it. I went with my parents to check it out. They are selling their place and will be building, so they will need temporary space.

            The Sheraton Residences have actually been renting quite well - there were only a few on each floor available for my parents to look at (one floor was under construction - there were more available but they were looking small 2 bdrm - large 1bdrm) they have 2 story units too.

            I was actually interested in moving there. You have the hotel amenities to use (pool, bars, common areas, fitness room) connected to the mall, garage parking included and for $100 a month - unlimited valet service.

            If you're looking temporarily or just moved here to find a place. I would recommend it. It got me curious to think about selling my condo and seeing what some of these newer places have to offer. So, yeah - more people are moving into those than you think. A lot of people are sick of maintenance expenses on houses on top of rising taxes and other inflated costs. And others just want to throw their money around.
          • Mostly Occupied
            I know for a fact that there is a high demand for these high-end units near Carmel. Sophia Square, the new building on Main Street, is 100% occupied. Last time I heard, Carmel City Center was 87% occupied. And like the other poster said, they Residences at the Sheraton were renting pretty well. I know all of this because I was recently looking at all of these buildings when my lease expired, but decided to move downtown.
          • Calm down John
            John, you're pretty naive if you think a developer is going to cancel a project because a few people on a blog criticize the design. Thanks for chiming in with the drivel about how we should all get on our knees and kiss the feet of the Wisconsin developer who wants to invest $20 million in our unworthy city. And if you really don't know the answer to your question about why the developer would do so, despite a whopping three negative comments about the design, it's because they expect to make a lot of money. Nothing about people expressing their opinions online will change that. Oh, and it's really easy to get the design of a building approved here. There are no design guidelines/regulations in place in most of Indy, including this location. The only way the design potentially gets debated is if they seek to deviate from the zoning ordinance, via reduced setbacks, increased heights, nonpermitted uses, etc., which might be the case here.
            • Thanks Paul
              Thanks, Paul for your thoughts...I know my opinion is not going to stop the development, but maybe it will make people think about more interesting design. There are interesting development in Indy like The Hinge ( It's so tiring to see the same kinds of buildings being built. Indianapolis modern architecture is for the most part very uninspiring. More interesting architecture would certainly draw more people to our city.

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            1. why oh why does this state continue to elect these you wonder how much was graft out of the 3.8 billion?

            2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

            3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

            4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

            5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.