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Fishers-based development firm Envoy Inc. has plans to build a $52 million project with 280 apartments and 23,400 square feet of commercial space near 106th Street and Lantern Road.
The Fishers City Council will meet Monday to review a project agreement with Envoy 106 Fishers LLC for its “Highline Project.” The six-building development is expected to be built on a vacant 26-acre parcel west of Lantern Road Elementary School and east of Kincaid Drive, near the 106th Street/I-69 interchange, by mid-August 2023.
The project agreement includes a request for the city to issue a $10.13 million developer-backed bond that will be paid back using tax increment finance revenues from the project over the course of 25 years.
City officials and representatives from Envoy were not immediately available for comment.
Conceptual plans submitted to the city show the Highline Project will include 280 multifamily residential units; approximately 18,600 square feet of first-floor restaurant, commercial and retail space; and roughly 4,800 square feet of standalone restaurant space.
If the agreement is approved, Envoy will design and construct the project’s streetscape and infrastructure improvements.
Those include a forced-right turn road improvement from Kincaid Drive to the east onto a new interior roadway called Pearl Street, as well as a multi-use pedestrian trail that borders the project on three sides before extending as far south as Sunlight Drive.
The Fishers City Council will meet at 7 p.m. Monday, August 16, at 1 Municipal Drive in Fishers.
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…Waiting for the comments about how this will be a “traffic nightmare”…
Looks like a great project to me!
Looks fantastic. Glad I moved out of that area 6 years ago.
No comment from me about how it will be a “traffic nightmare ” because it already is!! By the way, is Kincaid still closed at 106th Street? I think they permanently “dead ended” it there a year ago because of the traffic .
It will be across the street from Lantern Road Elementary School, not Lantern Road Middle School.
Yes, indeed. My kids attended there – great school. Great location for this project. Traffic in that area is much improved now with the roundabouts.
Traffic is traffic, Mark, whether there are roundabouts or not. What about going north on Kincaid? What happens when you reach 106th Street?
@Jim S – you can go north on Kincaid until about 400ft from 106th – then it dead-ends to one-way traffic southbound from 106th. https://goo.gl/maps/VB72w9Wf55BcakJ79
The development is completely inner focused. The buildings ignore the existing street grid and pushes the parking along Lantern & 106th.
This site needs completely reworked, particularly if they city is giving them money.
A $10 million TIF for a residential area, so the residents of Fishers (aka City) are giving them money to fill the schools with 280 more families while redirecting future tax dollars away from the schools. While Fishers needs more lower cost apartments, with housing costs going, it doesn’t make sense as to why a project like this would need so much city funding.
BradJ 280 apartments does not mean 280 families let alone 280 families with children.
More pizza places
I agree with the sentiment of no new developments in Fishers. As it is now people wanting to get on 106th St. have to yield from Lantern Road ! Why is it when a new development that the taxpayers have to give tax breaks to build? We have several newly built buildings that are vacant since the leases are so high? One of them sits right in this area. Is there a way to get tax breaks on property taxes? We could use a break!!
Looks like a neat concept but it’s sort of in no mans land. It’s not connected to the Yard or Downtown or the Nickel Plate Trail. Personally I’d like to see projects like this be a little more connected to the rest of the new amenities and start creating a more walkable experience
Needs to stop