The Indianapolis Airport Authority is selling a 6.4-acre parcel of land it owns in the Plainfield Industrial Park to Indianapolis-based Pure Development Inc.
On Friday, the Airport Authority’s board of directors agreed to sell the property to Pure Development for $490,000.
In an unrelated item, the board also heard about plans to add hundreds of new public parking spaces at the airport in coming months.
The parcel being sold is at 9233 East County Road 550 South, which the airport said had been one of the few remaining residential properties in that area. Pure Development specializes in build-to-suit office, industrial and medical projects. The company was the developer of G.E. Aviation’s new $100 million production facility in Lafayette.
Pure Development did not have a representative at Friday’s airport meeting, and IBJ was unable to reach the developer for details on its plans for the property.
Following the execution of a sales agreement, Pure Development has 120 days to inspect the property. The sale would close within 30 days after that period ends.
The property sale is part of a larger land use initiative that the airport has been working on for the past two years.
In November 2014, the airport announced plans to sell, lease or develop more than 3,200 acres that it owned but did not need for aviation purposes. The intent is to put the land back on property tax rolls and help drive economic development.
To date, about 90 percent of that land either has been repurposed or has deals in the works to do so.
The largest remaining parcel that has yet to be repurposed is a 128-acre parcel that once served as parking for the airport’s old terminal. Two previous proposals for this property—a $500 million brain health center and a $650 million casino/retail complex—did not come to pass.
In other airport news, the facility is preparing to add 541 new public parking spaces to ease crowding at its parking garage.
Marsha Stone, the airport’s senior director of commercial enterprise, said the airport plans to create a “park-and-walk” lot to open in January. This area will be carved out of existing employee parking just north of the airport’s parking garage.
Currently, the airport offers three parking options in the terminal garage: hourly parking at $2 per half hour, daily parking at $18 per day, and valet parking at $25 per day. Parking in the economy lot is $9 per day and drivers must catch a shuttle bus to reach the airport terminal.
The park-and-walk lot will give customers a new option at an in-between rate of $14 per day.
The airport plans to add another group of park-and-walk spaces in July, bringing that area up to 750 total spaces.
The new spaces may also help the airport compete with an off-site park-and-ride competitor.
In June, Cincinnati-based Fast Park announced that it planned to nearly double parking capacity at its 2,000-space facility in Ameriplex, about four miles from the airport. Those additional Fast Park spaces are set to open by the end of the year.