New Fishers Downtown Proposed

Fishers has taken the first step to redevelop the aging downtown area along 116^th street.  Right now it is just a concept, but the Town Council did give preliminary approval to rebuild downtown with Fairmount properties of Ohio.  The $100 million dollar project would cover about 70 acres on either side of 116^th street and would require several homes and businesses be bought to make way for the project. 

This is far from a reality but the developer has an initial proposal of 250,000 square feet of office space, 155,000 square feet of retail, 100 – 200 apartments, and 40 – 50 town homes.  The plan also might include a hotel if the demand can warrant it.  The whole development will be centered around a 2,000 square foot outdoor pavilion, which would be used for events, concerts, etc. during the warm months.

I think this will be great for the Fishers real estate market; this could give Fishers more of an identity and have a positive impact on the community as a whole.  This also represents a great opportunity for Fishers to increase its tax base and ultimately keep real estate taxes lower.  This whole project is just getting kicked off and many meetings, debates, and changes will occur but my bet is this will go though. 

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