The city of Fishers on Monday announced development plans for the final piece of vacant city-owned land near the Nickel Plate District Amphitheater.
An office building of up to 45,000 square feet will be constructed on the east side of the northern ellipse of Municipal Drive, Fishers officials said.
Developer BW Development LLC plans to spend $10 million on the four-story building, and construction is expected to start this fall. The city of Fishers plans to support the project with a 10-year, $1 million tax abatement, pending city council approval.
Fishers said companies that will move operations into the building will be announced at a later date. Broker Rich Forslund, executive vice president at the Indianapolis office of Colliers International, is in charge of leasing for the project.
Last fall, the city issued a request for proposals for projects at the 1.8-acre site that would complement its outdoor amphitheater. Last month, the city announced Flexware Innovations would build a 24,000 square-foot building on the west side of the ellipse.
“What started as an investment in creating downtown vibrancy through the Nickel Plate District Amphitheater several years ago is quickly growing into a destination for business, bringing investment and jobs to our city,” Fishers Mayor Scott Fadness said in written comments. “The addition of this building completes the vision for the Municipal Complex to be a robust and vibrant center of business for our city, and we look forward to welcoming innovative companies to locate here.”
The parcel will include build-to-suit office space for companies looking to expand or move to Fishers’ business community. The developer also will construct a public parking lot that will be free and open to the public after 6:00 p.m. Monday through Friday and during weekends.
Fishers-based BW Development is a sister company to Indianapolis-based engineering and architectural consulting firm RQAW Corp.
“The vibrant business climate in Fishers continues to draw growing companies, and we’re thrilled to bring this project to fruition in the heart of this downtown,” BW Development co-owner Brad Battin said in written comments.
Officials say downtown Fishers has seen $340 million in commercial and residential investment since 2015.