Work set to start on Market Square tower in October

August 14, 2014
Back to TopCommentsE-mailPrintBookmark and Share

It’s looking like construction on Flaherty & Collins Properties’ massive Market Square project won’t start until at least October.

msa 225pxThe local developer received a big boost in March when the Indianapolis City-County Council voted 18-9 to provide up to $23 million in city financing for the $81 million, 28-story apartment tower, to be built on part of the former Market Square Arena site.

And in May, Flaherty & Collins received more good news, when specialty grocery chain Whole Foods agreed to anchor the 300-unit project by taking 40,000 square feet at the building’s base.

But getting a commitment from Whole Foods took longer than expected, CEO David Flaherty said, helping to push back the start date from summer to fall.

“The tower is so intricate from an architectural perspective, it has taken longer to get the plans to this point,” he said. “We’ve gone as fast as we could, but yes, it’s taken longer than what we would like.”

The project’s architect is the Chicago office of Baltimore-based RTKL Associates Inc.

Flaherty & Collins, however, actually has another hurdle to clear. The city’s Regional Center Hearing Examiner is set to consider the development’s design Thursday morning.

Because the site is within the Regional Center overlay district, the project needs to comply with Regional Center Urban Design guidelines and requires initial approval by the city’s hearing examiner.

Milliken Phase 2
                              No. 2 225 pxHere’s an update on the progress of a few other downtown mixed-use projects:

• Insight Development Corp., the development arm of the Indianapolis Housing Agency, is set to start construction “any day now” on the second phase of its Millikan on Mass project, said Bruce Baird, president of Insight.

Insight held a groundbreaking ceremony in late June and had hoped to get moving within the next month, but financing and building-permit approval took longer than expected, Baird said.

The developer is constructing the $25.4 million Millikan on Mass in two phases across from the Athenaeum at the intersection of Massachusetts Avenue and Michigan Street.

• Milhaus Development LLC’s design for a project at another major intersection of Massachusetts Avenue received approval Tuesday from the Indianapolis Historic Preservation Commission.

Milhaus College
                              project 225 pxPlans call for 42 apartments, 8,000 square feet of retail and 55 parking spaces on what’s now a parking lot at the southeast corner of College Avenue and East St. Clair Street, where Mass Ave. intersects the streets.

Milhaus added more brick to the building, moved the garage entry from St. Clair to Walnut Street, and extended the retail piece from College to St. Clair.

Construction could start late this year or early next year, Milhaus president Jeremy Stephenson, said.

“Clearly the market’s there,” he said. “We want to get going on it as soon as we possibly can.”
 

ADVERTISEMENT
  • Great news
    This is all wonderful news. Love to see downtown Indy filling in.
  • Milhaus Development
    Any images of the final Milhaus development for the corner of St. Clair and Mass Ave? I'm glad IHPC was holding their feet to the fire on making changes to the design.
    • Milhaus image
      I'm working on getting a rendering from Milhaus and hope to have it added to the blog yet today.
    • Cheese Grater
      I really like the building, I just hope everyone calls it "the grater". All classic buildings have cool nick names, this one looks like a cheese grater.
    • Updated Tower Image
      Scott, any chance we could get an updated tower rendering? I assume it's changed (even if marginally) from the original contest winning images that we've all seen.
    • Renderings
      The approval can be found at this link..... http://www.indy.gov/eGov/City/DMD/Planning/Zoning/Documents/2014_documents/RC_HE_2014/8-14-14rc_he.pdf
    • Milhaus rendering
      I've posted an updated Milhaus rendering for its College Avenue project. Joe, thanks for posting the links for Market Tower.
    • College
      I have to say I do like the retail space fronting College. Anything we can do to bridge that gap down to the east end of Mass is a good thing! --- At least until something is done with the bus depot.
    • How about this for a nickname?
      The deodorant stick
    • Turning right on St Clair
      Will the attempted right turn ban on St Clair from College remain after this new building goes in? I say attempted because most days I see it being broken at least once as I travel around that area.
    • Milhaus updates
      Improved street interaction, but upper half of building still has a generic, unappealing institutional feel to it.

    Post a comment to this blog

    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
    ADVERTISEMENT