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.

  • Segregation
    Good! I was wondering how we could promote more car dependency.......this area rocks!
  • Bicycle Garage?
    does anyone know what is going into Bicycle Garages existing location after they move into their new building?
    • BGI
      Hopefully more parking will replace the current BGI location. :)
    • NS
      good joke NS
    • wow
      Another reason to avoid 86th/82nd.
    • insane...
      $40/sq ft?? PLUS another $5/sq ft in CAM charges. Good luck getting anyone to pay that. Simply insane!!
    • Parking clarification
      Well of course I meant more bicycle parking silly.... ;)
    • BGI
      Arhaus is taking the old BGI space.
    • Arhaus
      Arhaus Furniture - moving from Merchants Square up at 116th & Keystone.
    • more empty stores
      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!!
    • JEB
      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.
    • I want Jack in the Box
      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.

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    1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

    2. I sure hope so and would gladly join a law suit against them. They flat out rob people and their little punk scam artist telephone losers actually enjoy it. I would love to run into one of them some day!!

    3. Biggest scam ever!! Took 307 out of my bank ac count. Never received a single call! They prey on new small business and flat out rob them! Do not sign up with these thieves. I filed a complaint with the ftc. I suggest doing the same ic they robbed you too.

    4. Woohoo! We're #200!!! Absolutely disgusting. Bring on the congestion. Indianapolis NEEDS it.

    5. So Westfield invested about $30M in developing Grand Park and attendance to date is good enough that local hotel can't meet the demand. Carmel invested $180M in the Palladium - which generates zero hotel demand for its casino acts. Which Mayor made the better decision?