Panel recommends $260M project for Coke plant

Posted at 8:33 PM, May 24, 2016
and last updated 2016-05-25 00:18:23-04

INDIANAPOLIS -- An independent panel has recommended Indianapolis Public School approve a bid from Hendricks Commercial Properties for the Massachusetts Avenue Coca-Cola Bottling Plant.

Hendricks was one of six bidders for the 11-acre site that was, at one time, the largest Coke bottling plant in the world.

Hendricks bid $12 million for the land to build a proposed $260 million development that would include more than 300 new apartments, retail and office space, and a new hotel and theater.

The bid from the Beloit, Wisconsin-based company beat out others from Indy-based Browning Investments, Hageman Group, Milhaus Ventures and Strategic Capital Partners.

If accepted by the full IPS Board, the project would also bring an estimated 1,800 more parking spots to the busy Mass Ave. area.

The IPS Board was expected to take up the recommendation for approval on Thursday.

See renderings of the proposed project below: