Proposed Lantern Road Development Fits City Vision, Meets Community Need
Yesterday, the City announced the consideration of a two-story mixed use development project at 11671 Lantern Road proposed by Nickel Plate Development, LLC. The 16,000 mixed use building would be two stories, with Four Day Ray Brewing occupying the first floor with a new production brewery, taproom and restaurant. The second floor would offer 8,000 sq. ft. of commercial office space.
At a meeting with legislators and members of the Indiana Tourism Association just two weeks ago, Mayor Fadness was asked to explain how projects are selected for consideration. He explained that each project must fit the community’s core mission and vision.
“We’re aiming to be a smart, vibrant, entrepreneurial city, said Mayor Fadness.” “If a project doesn’t fit that vision, we’re probably not going to pursue it.”
Through ongoing Nickel Plate District redevelopment efforts, innovative businesses and creative, entrepreneurial talent has been drawn to Fishers downtown area, an emerging live-work-play destination in the city’s center. The compact growth in the Nickel Plate District is by design, with zoning that supports compact, walkable mixed-use development.
The proposed Lantern Road development not only fits the vision of smart, vibrant entrepreneurial city, but it also meets a growing community need.
The first floor tenant, Four Day Ray Brewing, is a start-up that got its feet wet in Fishers this summer as the exclusive beer vendor of the AMP After Dark series. Four Day Ray would join several other businesses who have recently chosen to make the Nickel Plate District home because of its emerging entrepreneurial culture, including successful tech company Cloud One and formerly Los Angeles based Memory Ventures.
The development’s second floor would bring 8,000 additional sq. ft. of office space. As recently reported by the IBJ, the demand for office spaces between 5,000 and 10,000 square feet is more than we currently have available in downtown Fishers.
Before construction on Meyer Najem’s new headquarters in the Nickel Plate District was complete, all off the available office space was fully leased. While the Switch is still under construction, the space on its second and third floors has already been claimed by Purdue University and Cloud One respectively. This new development would provide additional space for small businesses or startups.
The proposal will be considered by Fishers City Council this month. If approved, construction would begin in 2016.