Keystone Towers redevelopment could start in April
The first phase of the $22.5 million project, dubbed The Point on Fall Creek, would involve the construction of 58 apartments. Another 80 units would follow, complemented by a retail component.
The first phase of the $22.5 million project, dubbed The Point on Fall Creek, would involve the construction of 58 apartments. Another 80 units would follow, complemented by a retail component.
The demolition of a vacant apartment building is common fare in American cities. It is part of the urban renewal that is much needed in many U.S. cities.
The long-vacant Keystone Towers apartment complex will be imploded Aug. 28 at 8 a.m., the Department of Metropolitan Development announced Monday afternoon.
Titan Wrecking & Environmental bid about $255,000 less than the winning proposal to demolish Keystone Towers, but was rejected because of missing paperwork. The company owner says the city could have overlooked the omissions to save taxpayers money.
Denney Excavating of Indianapolis has been granted the contract to demolish the vacant Keystone Towers apartment complex with a bid $827,000.
Quotes came in way below city’s $2 million budget.
The City-County Council in Indianapolis has voted to spend $4 million to demolish the abandoned 15-story Keystone Towers and the long-vacant former Winona Hospital.
An Indianapolis Department of Metropolitan Development official says the city has plans to tear down the abandoned 15-story Keystone Towers complex at Allisonville Road and Fall Creek Parkway and seek proposals for redevelopment.