Indianapolis-based Browning Investments Inc. will build a 30,000-square-foot office/warehouse for Markey's Audio Visual in the Keystone Enterprise Park, boosting the park's occupancy to about 90 percent.
That's a huge milestone for the 62-acre development, which sits in the blighted Martindale-Brightwood neighborhood, say officials with Browning and the city of Indianapolis.
Keystone Enterprise Park, near Interstate 70 and Keystone Avenue, is a city-led venture launched to bring jobs and private investment to the near-northeast side. The goal was 600 jobs; more than 400 have been added to date.
The project was the brainchild of former mayors William Hudnut and Stephen Goldsmith.
The city began converting the former brownfields into an industrial park in 2002. The first tenant, Tri-State Bearing Co. Inc., signed on in early 2004. About a half-dozen companies have followed, including Hoosier Gasket, Horning Roofing and Sheet Metal Co., and Commercial Food Systems.
"The park has blossomed from what was once a dumping area," said Bob Gallant, Browning's director of business development. Gallant worked for the city's economic development office from 1988 to 1993, during the early stages of the park's planning.
Browning is expected to begin site work for the Markey's building in June. The project's cost is "north of $1 million," Gallant said. Curran Architecture of Noblesville is designing the structure.
Markey's is relocating from space it has outgrown at 2901 S. Meridian St.
Keystone Enterprise Park initially grew slowly but gained momentum as more tenants signed on, giving the project credibility, said Jeb Conrad, executive director of Indianapolis Economic Development Inc.
"If you would have looked at that park a few years ago, you would have wondered about it, and it would have been hard to believe it would ever come together," he said. "But with Markey's, that's pretty close to the last chunk of decent-sized space. It's pretty exciting stuff."