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.
-
Report ranks Indiana worst in the country for roads
A new survey of truck drivers and owner-operators ranks Indiana as having the worst roads in the country.
Indiana State Police report over 315 crashes since Saturday
Indiana State Police troopers in the Indianapolis District have responded to a staggering number of weather-related incidents since Saturday morning.
Judge rules Elwood officer murder suspect incompetent for trial
A judge has determined that the man accused of killing Elwood police officer Noah Shahnavaz, is currently incompetent to stand trial.
Colts' Philip Rivers gets emotional: 'There is doubt, and it's real'
Philip Rivers nearly led the Indianapolis Colts to victory at age 44. Rivers ended a nearly five-year retirement to start Sunday against the Seattle Seahawks.
