IPS headquarters to be torn down to make way for townhomes

A preliminary agreement between Indianapolis Public Schools and a local development group could mean the demolition of the school district’s downtown headquarters to make way for townhomes.

IPS is expected to vote later this month on a measure that would see the sale the headquarters at 120 E. Washington St.  to Onyx & East, a local firm that specializes in townhomes. The building has been the central hub for the district’s operations since 1960.

The building would be torn down to make way for luxury, three-story townhomes on the 1.7-acre site, though the exact specifications for the homes were not immediately available.

The school district most recently explored a sale of the property last June, as it sought to cut down on a $45 million deficit heading into the 2018-2019 school year. Talks between Onyx & East and IPS came about following the district’s decision to market the building.