A planned residential real estate development project in the heart of Fishers has been expanded from eight to 60 single-family homes.
Indianapolis-based Gradison Design-Build said Wednesday that it plans to spend $30 million to develop South Village of Nickel Plate over the next five years.
The development encompasses much of an existing neighborhood near Fishers Elementary School along Lantern Road and Meadows Drive, south of Morgan Drive and north of Fishers Pointe Boulevard.
Home prices are expected to start at $400,000 each. The area is within walking distance of the Nickel Plate District and the proposed Nickel Plate Trail. The developer said major infrastructure improvements would be part of the redevelopment.
Gradison officials are scheduled to provide more details about the project Thursday morning.
Mark Gradison, president of Gradison Design Build, told IBJ in January that the project would consist of eight single-family residential units and three small-scale commercial office buildings along Lantern Road.
Co-developer Joe Nixon of Joe Nixon Properties LLC said he started acquiring property in the area several years ago.
Gradison said the project would involve demolition of the existing houses.