Whole Foods Confirms Downtown Indy Plans

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A Whole Foods Market will anchor a mixed-use development at the former Market Square Arena site in downtown Indianapolis. The store is part of an $81 million plan that includes a 28-story residential and retail tower.

May 6, 2014

News Release

Indianapolis, Ind. -- Flaherty & Collins Properties announced Tuesday that a 40,000 square foot Whole Foods Market will anchor the forthcoming Market Square Mixed-Use Development.

"This will be one of the finest mixed-use towers in the Midwest, if not the country," says David Flaherty, CEO of Flaherty & Collins Properties. "With the tremendous value Whole Foods Market will add to future residents and to downtown, this is truly a great win for the city of Indianapolis."

Flaherty & Collins was selected by the City of Indianapolis to redevelop the north parcel of the former Market Square Arena site last July. The 28-story residential luxury apartment tower will feature 300 luxury apartment units, ranging from studios to two-bedrooms. In addition to Whole Foods Market, the project will have 2,500 square feet of retail space and a 525-space parking garage. The apartments will feature floor to ceiling glass, balconies, wood flooring, stainless steel appliances and granite counter tops. Residential amenities will include a resort style pool and deck, state of the art fitness and amenity spaces.

"Great, convenient shopping is a must-have for thousands of people moving to downtown Indy," said Mayor Greg Ballard. "The addition of Whole Foods Market to the MSA residential tower project provides another great shopping destination for people living and working downtown, and is another reason why so many people are choosing to Live Indy."

Whole Foods, which will be located on the southwest corner of the site, has stores in mixed-use developments in larger cities throughout the nation, including Boston, Chicago, Washington, D.C. and New York City. Now, Indianapolis can be added to that list. Whole Foods Market stories feature fresh selections of natural foods, free of artificial flavors, sweeteners and preservatives. Stores offer shoppers high quality, fresh foods in an inviting setting. Each store is unique and designed to meet the needs of the neighborhoods they serve.

This new location will offer downtown residents and workers alike, fresh, organic fruits and vegetables, specialty items, high-quality meats and poultry, everyday pantry staples and sustainable seafood –appealing to the health conscious as well as devoted food enthusiasts. From the scratch bakery, shoppers will have a vast array of delicious breads and pastries, made fresh daily, to choose from. The coffee bar will give the needed java jolt for busy shoppers. For kids of all ages, the gelato station will have the creamy, Italian treat by the scoop or by the pint. Downtown residents and workers will delight in the extensive prepared food options for lunch as well as the quick-and-savory meals for dinner.

In March, the Indianapolis City-County Council voted to move forward with the $81 million project that will change the skyline of the city. Jim Crossin, Vice President of Development at Flaherty & Collins, said that construction will begin this fall and will take just over two years to complete.

"We are looking forward to starting the project," said Crossin. "We believe it will take downtown living to a new level, which is befitting the growth, activity and enthusiasm happening around the city of Indianapolis. What a great time it is to be in and around downtown."

"With this new centrally located store in Indiana’s capital, Whole Foods Market will increase access to healthy and organic options to downtown residents and workers," says Michael Bashaw, Whole Foods Market Midwest Regional President. "Located just down the street of the historic Soldiers’ and Sailors’ Monument, this new store will allow us to share our passion for food with the vibrant community in and around the Market East district."

Flaherty & Collins Properties are completing three new mixed-use developments in 2014. Axis, located in downtown Indianapolis, will open this summer and features over 300 luxury apartments and more than 25,000 square feet of exterior amenity space. The Heights Linden Square in Gladstone, Missouri, just outside of Kansas City, will open later this summer, while The Depot at Nickel Plate in Fishers, Indiana will be completed this fall.

Source: Flaherty & Collins