FISHERS, IND. – The City of Fishers today announced development plans for the final parcel of the Nickel Plate District’s downtown Municipal Drive ellipse, creating further downtown density. The development is the result of an RFP process which commenced in 2017 and was awarded to Fishers Ellipse, LLC. The project will feature a 45,000-square foot Class A office building, developed by BW Development, with plans to break ground fall 2018.
“What started as an investment in creating downtown vibrancy through the Nickel Plate District Amphitheater several years ago, is quickly growing into a destination for business, bringing investment and jobs to our city,” said Fishers Mayor Scott Fadness. “The addition of this building completes the vision for the Municipal Complex to be a robust and vibrant center of business for our city and we look forward to welcoming innovative companies to locate here.”
The building will be located on vacant city-owned property on the east side of the northern ellipse of Municipal Drive. The 1.76 acre parcel will include build-to-suit office space for companies looking to expand or move to Fishers’ booming business community. The developer will construct a public parking lot which will be free and open to the public after 6:00 p.m. Monday through Friday and all weekend hours.
“The vibrant business climate in Fishers continues to draw growing companies and we’re thrilled to bring this project to fruition in the heart of this downtown,” said BW Development co-owner Brad Battin. “
Building tenants will be announced at a later date. This building joins the growing list of developments in downtown Fishers, with $340 million in investment since 2015, and adjacent to the recently-announced northwest ellipse Flexware Innovations building. The City Council will consider the terms of this agreement at the May City Council meeting. The City of Fishers, pending approval by the City Council, supports this project through a 10-year tax abatement. The terms of the project are subject to clawbacks in the event the project does not proceed.
The demand from companies to locate in downtown Fishers, in close proximity to other employment nodes such as the I-69 corridor or the recently announced Metropolitan Airport properties, continues to grow.
Rich Forslund of Colliers International will be leasing the project. “This is yet another strong project for the downtown Fishers area. New urbanism and connectivity are highlights of this unique project resulting in high demand from users looking to be in the mix. Limited space available for companies looking to strengthen their corporate culture and identity.”
Northeast Ellipse Building Rendering