There has been much speculation about what would become of the south side along 116th Street in the area near City Hall. We now have part of the answer with the unveiling of plans to develop areas north and south of 116th Street in downtown Fishers.
The plans include a new headquarters building for First Internet Bank. In addition, there will be a high-end boutique hotel, along with residential space and retail shops. A six-story office building will anchor the development.
The City of Fishers says this is the kind of development envisioned in the Nickel Plate District Master Plan. The project announced Tuesday morning includes preserving the older structures on the north side of 116th Street, which currently house businesses such as the Nickel Plate Bar & Grill, Roman and Leo, and Fishers Barber Shop. The exteriors and landscaping are expected to be rehabilitated.
“We had a unique opportunity in downtown Fishers to bridge our past, with institutions such as Archer’s and Nickel Plate Bar and Grill, with our vision for the future,” said Fishers Mayor Scott Fadness in a city news release. “Jamie Browning and team took that opportunity and delivered a great vision for the future of our vibrant downtown.”
Browning Investments is partnering with the City of Fishers to develop this ambitious plan.
“Browning is thrilled to be the master developer of this truly transformative project,” said John Hirschman, Browning’s president and CEO. “This is a complex in-fill redevelopment spanning a major thoroughfare, and its design and mix of uses reflects years of planning and a commitment to the vision for the City of Fishers.”
If all goes as expected, construction will start in late summer of 2019. Parts of the development will begin to open their doors in late 2020, with all the development slated for completion by the end of 2021.
The City of Fishers intends to construct a 750-space public parking garage as part of the development that will include reserved parking from 7 a.m. to 6 p.m. Monday through Friday for tenants. Incentives to be presented at Monday’s City Council meeting include fee waivers, land costs and transfer of two City-owned parcels to First Internet Bank. In the event the project does not proceed, all land will transfer back to the City of Fishers, according to the city news release.
Tuesday morning, Scott Fadness was clearly happy about the $160 million investment planned for downtown. He also pointed to the preservation of some older buildings now housing Nickel Plate Bar & Grill and other businesses along 116th Street just east of the municipal complex. Not only will those structures remain, they will keep the current look and have major renovations needed with the age of those buildings.
One structure that will not survive, according to Deputy Mayor Leah McGrath, is the old silo structure in that area of downtown. Plans call for the silo to be removed.
Mayor Fadness also is pleased that First Internet Bank will move its headquarters as an anchor to the new development, with a lot of new space in their new quarters, 165,000 square feet. The bank is a $2 billion operation, according to the mayor.
The entire development should be open by the end of 2021, with one exception – the hotel may take a little longer to complete.
