After months of radio silence on the subject, developer Buckingham Cos. acknowledged Wednesday that it’s working on plans for a mixed-use project in the heart of Zionsville.
IBJ reported Oct. 12 that the Indianapolis company has a contract on a former Citgo gas station property at the southwest corner of Main and Sycamore streets and is negotiating to acquire adjacent land—including a small trailer park along Eagle Creek.
In a written statement released Wednesday afternoon, senior development executive Scott Travis said Buckingham is investigating the “municipal and regulatory approvals needed to move forward.”
Zionsville leaders are very protective of their quaint downtown, and the 2.4-acre Citgo site is seen as a seen as a key connection between the central business district and new development occurring to the south.
The parcel also has some challenges—it’s in a floodway and power lines run through it, for example—that restrict where structures can be built.
Travis said Buckingham is taking a collaborative approach to the project, seeking feedback to come up with a plan that “effectuates the best of village infill development.”
“Buckingham intends to bring its breadth of experience and reputation for quality and success, and achieve multiple stakeholder goals for this unique real estate redevelopment opportunity,” he wrote.
Other recent projects in Buckingham’s portfolio include the $155 million CityWay development in downtown Indianapolis and a $25 million project near IUPUI called The Avenue. Both include apartments and retail space.