Fort Wayne-based STAR Financial Bank plans to take over a 12,000-square-foot space at 40 Monument Circle that currently houses the staff of Indianapolis Monthly.
The Monthly offices are part of the headquarters of Emmis Communications Corp., which owns the magazine. Magazine staff will move into another part of the Emmis building.
STAR plans to invest nearly $2 million to transform its three-story space, which will house both a 750-foot ground-floor branch office and office space for commercial and private-lending operations. Renovations will include space buildout, technology needs and furnishings, the bank said; the work is expected to be complete this fall.
Once renovations are complete, STAR will move 30 employees from its Keystone at the Crossing office to Monument Circle. STAR plans to maintain its Keystone at the Crossing facility.
With the Monument Circle location, STAR will have 10 branches in the Indianapolis area and 43 overall. The bank has $2 billion in assets.•