Alboher Development Company, Inc. and Birkla Investment Group, LLC announced Friday their proposal to build a five-story, mixed-use building at 8603 E. 116th Street, located at the intersection of Municipal Drive and 116th Street near the newly opened downtown hub of the Fishers Nickel Plate Trail. The REV development will feature 36 for-sale condominiums, a parking garage, and 23,000 square feet of commercial and office space. The condos, ranging from $600,000 to $1,000,000, will be the first of their kind as Fishers’ first for-sale condominiums. “The REV development provides us with a unique opportunity to diversify the housing market in Fishers,” said Fishers Mayor Scott Fadness. “These condos will offer residents all the benefits of downtown living, but also an opportunity to build equity during a time when real estate options are limited. Combined with its emphasis on sustainability and the additional retail opportunities it will provide our community, the REV building is the perfect addition to our downtown cultural district.” The $35 million investment is the first new development announcement along the Nickel Plate Trail since the downtown portion opened in May, and the first condominium project along the trail. “We are excited to expand the REV brand into Fishers,” said Tony Birkla, owner of Birkla Investment Group. “REV at Proscenium sold out quickly, as buyers immediately saw value in the home quality, amenities and lifestyle. REV Fishers will continue our precedent for all-inclusive luxury community living with quality construction that exceeds expectations.”
This downtown district was designated as a Statewide Cultural District in 2018 by the Indiana Arts Commission (IAC). “Having owned this property since 1986, I have seen dramatic changes to Fishers,” said Mike Alboher, President of Alboher Development. “Having sorted through countless proposals on this property, I was not swayed until Steve Hardin introduced me and my daughter, Paige Pettenaro, to Tony Birkla and his team. We were so impressed with his team’s vision for our site, things progressed quickly. Mayor Fadness and Megan Baumgartner shared our enthusiasm and worked tirelessly to make this happen. We believe this development perfectly fits the advancing evolution of our downtown area, filling both housing and retail needs.”Fishers City Council will vote on the project agreement approving incentives at the August 15 council meeting at Launch Fishers.
I am devastated that this property that has mature trees and could be a respite for walkers and cyclists in downtown Fishers is going to be turned into another lost opportunity to create more green spaces for residents.
Please disregard my comment, I mistook the location and thought it was the lot at 116th and Holland. I can still hold out hope for that lot!
This is great, however, looking at the address on Google Maps it tells me that it’s the current home of the Thai Sushi restaurant that’s been there since I can remember. (And is the Vitamin Shoppe still in this building?) I suppose the businesses will be successfully relocated.
I’m now curious to find out just how much public money will be given to this development and for how much damage will be done to public infrastructure for yet another bland 5 over 1 megastructure…
What other small businesses will be forced out next??? Fritz’s? The white 1 story buildings by Speedway?
Are they helping businesses to relocate?
The developer, Alboher, is dealing with relocation issues, according to the city, and the city officials are insisting that be done. Those business could relocate or retire. My understanding is the city and the developer will allow the businesses themselves to announce their own plans.