FISHERS, IN – The City of Fishers announced a $47 million redevelopment project proposed for the Nickel Plate District today.
North Street Redevelopment Project
HQ building rendering
“This redevelopment project really raises the bar for our entrepreneurial city,” said Fishers Mayor Scott Fadness. “A creative development like this one, that meets the needs of small business owners and establishes much-needed office space in the Nickel Plate District, brings significant value to our downtown and furthers the ecosystem in which entrepreneurs can thrive.”
The three-part project will include a three-story, 30,000 square feet office building located on the northeast corner of North and Maple streets. RQAW Corporation, a consulting engineer and architect firm, plans to invest $4 million to relocate their headquarters and up to 60 jobs to the building once complete. RQAW will occupy 15,000 square feet of the new building on the second and third floors, while the remaining space will be available for lease. Commencement of the RQAW component is contingent upon both City Council approval and the offer of state incentives.
“We are thrilled to plant our flag, so to speak, in the Nickel Plate District,” said Brad Battin, vice president at RQAW Corporation. “Our new headquarters will be the physical embodiment of our core values, designed by us for us, and located in a walkable, connected downtown. We look forward to this project not only helping us attract and retain top-tier talent, but also showcasing our strengths as a partner in the communities we serve.”
In addition, a regional, 500-space parking garage is planned to serve the corporate and residential parking needs of the area. Employees from Meyer Najem and RQAW, as well as residents from the mixed-use building, will use the parking garage daily. Visitors to the Nickel Plate District will have access to the parking garage on evenings and weekends.
The third component includes a mixed-use development with 240 residential units and 5,000 square feet of commercial space. Future tenants will have their choice of one or two bedroom apartments with unique live-work units on the first floor facing Lantern Road. The live-work units will have street-level commercial entrances for an office or studio and residential space for living.
“The live-work concept is unique to Fishers, but has worked well in other forward-thinking cities,” said Scott Baldwin, principal at Envoy, Inc. “Situated near Launch Fishers and in the heart of the vibrant downtown, the development is designed to meet the needs of young, entrepreneurial talent in Fishers.”
A partnership between central Indiana companies, Envoy, Inc. and Hageman Group, will develop, own and operate the parking garage and mixed-use building. RQAW will develop and own the office component. Construction is expected to start yet this year and be completed in May 2018. On Monday, June 20, Fishers City Council will consider an economic development agreement for the project that totals $16.5 million and covers the cost of the land, waiver of fees, and construction of the parking garage and surrounding hardscapes.
“Our mission is to invest in great projects that positively transform communities,” said Shane Hageman of the Hageman Group. “The City of Fishers has established the Nickel Plate District as an impressive economic engine that is attracting new jobs, investment and residents. We believe in the City’s vision for the District and are proud to be part of making that vision come to life.”
About RQAW Corporation:
Since 1954, RQAW has been providing our clients with the best in engineering and architecture services. RQAW is committed to outstanding design, superior execution, and strict attention to clients’ needs at every turn. RQAW is dedicated to ensuring the highest level of customer service that our clients have come to count on throughout the life of their project and beyond.
About Envoy, Inc.:
Envoy has managed nearly $1 billion in construction projects, establishing the company as a recognized leader in the construction management industry. With long-standing relationships with schools, government agencies and private-public partnership, Envoy’s approaches each project with a high standard of accountability, transparency, and integrity.
About Hageman Group:
Hageman Group is a privately-held company headquartered in Indianapolis, Indiana that manages assets and investments with a focus in agriculture and real estate. The real estate division has a long-term focus while acquiring and developing properties with an above average return potential. The current portfolio includes commercial buildings and luxury college apartment complexes. We seek to create value for our stakeholders and partners by applying our knowledge and experience in building relationships and developing sustainable returns.