INDIANAPOLIS — Jordan Gleason says one of the top concerns on his neighbors’ minds is the Irvington Plaza Shopping Center.
“It’s a huge amount of asphalt that just sits here and does nothing for our community," the Irvington Development Organization President said. “When you’re driving in from 465 into our community, this is one of the first things you see. It’s not representative of the community we’re trying to build.”
On Monday, the Metropolitan and Economic Development Committee unanimously approved a proposal that could help redevelop the area known as Brookville Road-Irvington Plaza.
City-County Councilor Jason Larrison says this area of his district could use the boost.
“It used to have a Marsh grocery, a pharmacy but it hasn’t had those in a very long time. There are a few tenants who still occupy out there but for the most part it’s an underused space and it’s ripe for redevelopment," Larrison said.
In 2019, the Department of Metropolitan Development worked with the community and Urban Land Institute to understand the future potential of the 15 to 20 acre site on Indy’s east side.
Based on the study, the Urban Land Institute recommends a mixed use area with approximately 400 units of apartments and townhomes and 60,000 square feet of commercial or retail space.
“We want green space. We want community space, community programming. We want a mix of housing options on the transit line, including options that are affordable and workforce housing and we know that folks wanna walk to high quality amenities," DMD Interim Director, Rusty Carr, said.
The proposal establishes a new tax increment financing (TIF) district designated as the Irvington-Brookville Road Allocation Area.
Carr says any new taxes generated on those development sites would be kept in a fund that is to be used only in those geographic bounds.
“What we’re doing is creating a financial tool that allows us to keep new taxes in the neighborhood and that can serve as a catalyst for a really transformative development for Irvington the community and the plaza specifically," Carr said.
Once the TIF is approved, it would last anywhere from 25 to 30 years, depending on if debt was issued behind it.
The proposal will move to city-county council for a vote on April 3.
If council were to approve it, it would go to the Metropolitan Development Commission in May.
-
Loose lap belt for Power helps Palou cruise to 3rd IndyCar season championship
Alex Palou easily drove to his third IndyCar championship in four years when challenger Will Power's seatbelt came loose minutes into the season-deciding finale Sunday at Nashville Superspeedway.Caitlin Clark scores career-high 35, Kelsey Mitchell adds 30 as Fever beat Wings
Indiana (20-19), which was coming off back-to-back losses to the two-time defending WNBA champion Las Vegas Aces, clinched the No. 6 seed in the playoffs, which begin next Sunday.Richardson's inexperience shows as he throws 3 INTs in Colts' loss to Packers
Richardson went 17 of 34 for 204 yards with one touchdown pass to go along with the three INTs. He rushed for 37 yards on four carries.Pedestrian struck, critically injured by IMPD officer’s patrol car
IMPD says the pedestrian was crossing the street on Michigan Road when the officer turned out of a parking lot and struck him with his marked patrol car.