Check out new rendering of the $20M Ironworks project

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Ironworks IndianapolisA Wisconsin developer has scaled up its plans for the southwest corner of East 86th Street and Keystone Avenue across from The Fashion Mall at Keystone. A new version of the proposal from Hendricks Commercial Properties calls for a four-story “L”-shaped building with about 30,000 square feet of restaurants and retail on the first floor and 90 high-end apartments on the upper three floors. The plans call for an urban-style layout with the building abutting the intersection and surface parking for shoppers and diners behind. An underground parking garage with about 100 spaces would accommodate residents of the development, dubbed Ironworks at Keystone Village. The project likely would cost $20 million to build, industry sources said, and is far more ambitious than an earlier proposal that called for a small retail strip, a few outlots for restaurants and a possible hotel. The goal: land a restaurant anchor that would take up to 10,000 square feet and round out the mix with more fast-casual restaurants and a variety of other retail users, said Sitehawk principal Mark Perlstein, who is handling leasing. Check out the full story here. (subscription)

Blog bonus: Click for a second rendering of Ironworks, showing the opposite side of the proposed building, here.

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