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Airport seeks developers for 550 acres of land

April 20, 2015

The Indianapolis Airport Authority is seeking master developers for almost 550 acres, including a large open parcel of land with frontage on Interstate 465 and several parcels facing West Washington Street.

In a request for proposals released Monday, airport officials indicate that they want to fill the economic void around the now-demolished former passenger terminal, which was oriented toward I-465 west of Indianapolis.

The airport authority has no preconceived notions about possible development, according to the RFP document, and bidders are encouraged to provide “creative options to stimulate economic growth opportunities and job creation.”

The RFP covers 545 acres and has a submission deadline of Aug. 10. For a map of all the parcels, click here.

The request is the second stage of an airport initiative to maximize revenue from non-aviation land. The airport has sold a few parcels on its own, and it’s in the process of hiring a brokerage firm to handle the sale of another 586 acres.

The RFP released Monday covers three different areas containing seven total parcels. Airport officials will consider proposals for individual parcels, the RFP states, but they are “keenly interested in proposals from master developers for the three areas.”

The largest area, 249 acres, includes the parking lots for the former passenger terminal. The area is adjacent to the former terminal garage, which has 1,776 parking spaces. “This area could be utilized under the right scenario to accomplish a ‘game changer’ type of development,” the RFP states.

The old-terminal area is situated east of High School Road and has 4,500 linear feet of frontage on I-465.

The second area is 189 acres northwest of the current terminal, which opened in 2008 off Interstate 70, near Hendricks County. The northwest area hosts the airport’s central energy plant and is crisscrossed by on-airport roads. All three parcels have some frontage on West Washington Street.

The smallest area is 107 acres in the northeast corner of Ronald Reagan Parkway and Stafford Road. Development plans would have to take into account the site’s proximity to a runway, Federal Aviation Administration regulations, local height restrictions and an inter-local agreement, according to the RFP.

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