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I love the vision but something tells me I will never see it happen in my lifetime.
Greg,
You have watched this movie too???
Would love to see it happen, but it’s never seemed like this was anything but a dream.
+1
I hope this is not more smoke and mirrors. Looks like he has a little of something for almost everyone, making sure to cover all the bases and make everyone happy. lol including a film production studio of all things.
At least the painted buildings look better than before.
A beautiful dream – I’d love to see it happen at that location. The general plan looks somewhat like The Yard in Fishers. Unfortunately, Lafayette Square isn’t going to attract the degree of investment from partners to build it, let alone sustain it – nor the demographics nearby to patronize it. I really hope I’m wrong.
You have demographics of folks in Meridian Kessler, Eagle Creek, Speedway, Brownsburg, and Zionsville. Living near Eagle Creek, I can say there are many solidly middle class (and up) families throughout the northwest side who wish there was more development to patronize. We are a forgotten part of town. The area does not look like Carmel but there is a solid community in and around the northwest side.
CH, That is a drastically optimistic take.
This is a pipe dream and not something that has momentum. The mall is decaying but other issues complicate the demolition. Asbestos must be removed prior to any demo work and the most of the malls roofs are leaking. I just don’t see this as the right time for this depressed area. I will say that access to I65 does offer an opportunity, so that does increase something coming in eventually.
lol, I65 is a detriment to anything expect for heavy industrial use.
Why is that, Robert? I-65 was the main reason this was a good site for a mall 60+ years ago. Malls ain’t what they used to be, for sure, and this is no longer a solid middle-class area. But why would being close to a highway support only heavy industrial? We might not like the noisy or fumes from an interstate highway but it still makes the land appealing for all sorts of commercial uses. Or do you think of warehouses as heavy industrial? I’m hardly an expert in the field, but to me this is a great possible site for warehouses.
I think Castleton is more fitting for this plan. Specifically the abundant overflow parking lots and maybe raise the old Sears at the end of the Mall would have a better shot.
Raze*
533,000 square feet of retail space? In today’s world of Amazon and a million other online stores that everyone everywhere can access from their phones? With a real-world 222,000sf Meijer store right down the street? What will use all that space?
Dreams are one thing. The reality on the ground is something else entirely.
It seems like the majority of that 533,000 would be the remaining part of the mall. There is a serious reduction in retail square footage compared to what is on the site now, which is needed.
This is an obvious scam. What sane person would set foot on this property? Wonder if the real estate taxes are current?
I get the impression the comments section is dominated by grumpy old men who just complain from their phones. I am guessing that most of the commenters have no knowledge of real estate development and have never taken a business risk in their life. Pretty easy to do when you are not the man in the arena. How about some hope and positivity? I am hopeful for this project and circle center to prove you fellas wrong.
Funny you mentioned Circle Center mall; that project couldn’t be more different than this one.
That’s a developer with a proven track record of success on a project. Yes, it’s a risk to give them tax incentives, but it feels one that’s pretty broadly, supported.
What has this developer done to make you think he can pull off a project of this size?
I’d be more supportive of the city bringing in Hendricks Commercial Properties to take on this project.
Or maybe, Matthew, some commenters are experienced elders who have actually run businesses and/or developed and built things.
I always figured the longer the diatribe, the younger the commenter.
Facts don’t care about your feelings. I’m sure you know this, which is why you went ad hominem from the jump.
Kevin P, I think just the opposite. Those who have grown up with ubiquitous social media only have the attention span to read or type 140 characters or less! 🙂
Wonderful
So he spent $80 million so far to fix up the mall only to raze 2/3 of it?
I thought the same thing Adam W. And now, to make up for all the lousy investment decisions the developer will look to local taxpayers to bail them out.
The city should be backing this project 100%. Other investors should join in because this is the type of projects Indy needs to attract talent and deal with an issue everyone likes to ignore. The need to have affordable housing for the middle and lower middle class. Downtown Indy and Indy’s doughnout cities have plenty of developments like this and the city would benefit greatly by helping this project along. It makes more sense to develop this area than to let it continue to decay. Perfect opportunity to gain another tax district with all the business and residential proposed. It’s a win win for everyone and it makes the city more attractive and takes care of the needs of the people.
You think he’ll bring back Montgomery Wards? How about an Orange Julius for old times sake?