New retail strip proposed near Kite's Rivers Edge

October 25, 2011
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82nd Street retail projectA local developer is betting more restaurants and retailers are interested in opening stores near Nordstrom Rack and The Container Store than Rivers Edge owner Kite Realty Group can accommodate. Indianapolis-based Veritas Realty has put a 1.6-acre parcel across 82nd Street from Rivers Edge under contract and is planning a 13,400-square-foot retail strip with five small-shop spaces. The vacant land next door to Lifestyle Family Fitness had been listed for sale for $1.7 million. Veritas, which has not yet signed up any tenants, is asking for an aggressive $40 per square foot in rent. The center likely will house two or three restaurants, along with small retailers or service users, said Veritas principal Kyle Hughes, who is handling leasing of the center with Jamison Downs. The lead developer is Bill Stoops. The goal is to break ground in mid-March and finish by June 2012, but they won't start construction without commitments for at least 50 percent of the space. A Jack in the Box had been proposed for a smaller parcel on the other side of Lifestyle Family Fitness, but neighborhood groups scuttled the plan over concerns about a drive-through.

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  • Segregation
    JoeOctober 26, 2011 8:51 AM
    Good! I was wondering how we could promote more car dependency.......this area rocks!
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  • Bicycle Garage?
    Crossed WiresOctober 26, 2011 9:31 AM
    does anyone know what is going into Bicycle Garages existing location after they move into their new building?
    Reply to CommentFlag Comment
    • BGI
      NSOctober 26, 2011 9:33 AM
      Hopefully more parking will replace the current BGI location. :)
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    • NS
      JoeOctober 26, 2011 9:54 AM
      good joke NS
      Reply to CommentFlag Comment
    • wow
      thundermuttOctober 26, 2011 10:03 AM
      Another reason to avoid 86th/82nd.
      Reply to CommentFlag Comment
    • insane...
      ToddOctober 26, 2011 12:08 PM
      $40/sq ft?? PLUS another $5/sq ft in CAM charges. Good luck getting anyone to pay that. Simply insane!!
      Reply to CommentFlag Comment
    • Parking clarification
      NSOctober 26, 2011 12:51 PM
      Well of course I meant more bicycle parking silly.... ;)
      Reply to CommentFlag Comment
    • BGI
      Indy128October 26, 2011 2:07 PM
      Arhaus is taking the old BGI space.
      Reply to CommentFlag Comment
    • Arhaus
      BOctober 27, 2011 1:38 PM
      Arhaus Furniture - moving from Merchants Square up at 116th & Keystone.
      Reply to CommentFlag Comment
    • more empty stores
      JEBOctober 27, 2011 2:42 PM
      This is what our cities and state needs. More empty stores in strip malls...Awesome idea!! Why don't these developers use the old buildings and locations, stop littering our state with empty buildings!!
      Reply to CommentFlag Comment
    • JEB
      JoeOctober 28, 2011 8:50 AM
      This is exactly what you ask for in your previous post. You want the US to destroy a path for oil from Canada so we can drive afurther due to "cheap" subsidized oil. These centers exist for that very reason. Subsidized oil and roads allows for very little cost on these project up front and you provide the ongoing demand.
      Reply to CommentFlag Comment
    • I want Jack in the Box
      JackOctober 28, 2011 11:12 AM
      So the Nora Northside Community Council (This is WAY FAR FROM NORA) impacted the Jack in the Box? They should stay in their own neighborhood.
      Reply to CommentFlag Comment

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