Subject: CXP
Thompson Thrift Receives Approval to Move Forward with Next Two Phases of $750 Million Master-Planned Fishers District Near Indianapolis
INDIANAPOLIS, Jan. 31, 2024 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company and one of the nation's leading commercial real estate developers, announced today that the city of Fishers has provided approvals that clear the way for work to begin on the next two phases of its expansive master-planned Fishers District development in the Indianapolis suburb of Fishers.
"We are very pleased to be taking the next steps towards bringing our vision into reality," said Ashlee Boyd, managing partner of Thompson Thrift Commercial. "We continue to appreciate and value the city's partnership in helping to bring this landmark project to completion for the benefit and enjoyment of residents and visitors alike."
Located near Interstate 69 and 116th Street, The Union will be a mixed-use development that will create a true urban experience. Plans for the 10-acre parcel include approximately 55,000 square feet of retail space, 60,000 square feet of Class A office space, a 150-room boutique hotel, a 250-unit multifamily community and 805 structured parking spaces that will provide parking for both residents and center visitors. Thompson Thrift is currently in negotiations for the hotel and approximately 40% of the retail space. Infrastructure work will begin in 2024 and Thompson Thrift plans to begin vertical construction in early 2025.
The Crossing at Fishers District will utilize 62 acres of land at the southern end of the development, the centerpiece of which will be the city-owned 7,500-seat event center currently under construction and the future home of the Indy Fuel?the professional hockey minor league affiliate of the NHL's Chicago Blackhawks. The development will be a true mixed-use property, with office, retail, restaurant, residential, hotel and entertainment options. The event center is expected to be completed later this year.
"Fishers has been working with Thompson Thrift for several years to bring Fishers District to fruition, and we are very excited to provide approval for these next two phases of this monumental development," said Fishers Mayor Scott Fadness. "Thompson Thrift has shown a commitment to bringing new categories and concepts and we look forward to hearing more about the line-up of dining, retail and entertainment options that will create hundreds of jobs and further boost our local economy."
One new-to-Fishers name that has already committed to space at The Crossing is Chicken N Pickle. Chicken N Pickle is a unique indoor/outdoor entertainment complex that includes a casual, chef-driven restaurant and sports bar that boasts pickleball courts and instruction, a variety of yard games and space for live entertainment and lounging.
Thompson Thrift first began work on the Fishers District development in 2015 and received a Monumental Award from the Indianapolis Chamber of Commerce in 2020 for the first phase.
This past summer, Thompson Thrift hosted a ribbon cutting for Slate at Fishers District, a 242-unit luxury townhome and villa community adjacent to Fishers District. Demand for the community has been strong and leasing is currently progressing ahead of schedule.
Once completed, the $750 million development will span 123 acres and will be comprised of five distinct developments offering an array of multifamily, townhome, hotel, dining, shopping, and entertainment options. The developments will be connected by well-designed walking paths that will offer residents and visitors the opportunity to explore the master-planned development on foot.
Ryan Menard, vice president development for Thompson Thrift stated, "We think the combination of location, strong demographics, thoughtful design and high-quality construction will continue to drive great existing and new-to-market tenant interest in each of the Fishers District developments and create a truly unique environment with something for everyone."
Fishers is one of the fastest-growing communities in Indiana and has consistently been nationally ranked as a top place to live. Located less than 15 miles from downtown Indianapolis, Fishers has more than 100,000 residents and is known for its entrepreneurial spirit and for attracting high-growth companies with its pro-business climate.
Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. During the past 30+ years, Thompson Thrift has invested more than $5 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily, commercial and industrial projects.
About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver; Houston and Phoenix. Three business units drive Thompson Thrift's success?Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of development, construction, leasing, and management of quality commercial real estate projects across the country. The company earned national recognition as a winner of a 2023 Top Workplaces USA award, the latest accolade that reflects the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com.
Contact:
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
jennifer@spotlightmarcom.com
SOURCE Thompson Thrift
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