Downtown Anderson Building Set For Redevelopment

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The building in Anderson is located just west of the Paramount Theatre. The building in Anderson is located just west of the Paramount Theatre.

The city of Anderson is looking to take a vacant downtown building and turn it into an economic development opportunity. Our partners at The Herald Bulletin report the Madison County Commissioners have approved the transfer of the property to the Anderson Redevelopment Commission.

The property, located at 1123 Meridian Street in downtown Anderson, was slated to be part of a certificate sale next month. Greg Winkler, executive director of the Anderson Economic Development Department, tells the publication the building, located near the Paramount Theatre, has had structural issues for years.

Winkler says the city spent nearly $100,000 in 2015 to repair the roof of the building, which was in danger of collapse. He says the redevelopment commission plans to remove 20 to 25 dumpsters of debris from the building and treat any mold that may be found.

The publication reports the site had more than $140,000 in unpaid property taxes and a city lien. Winkler says several parties have expressed interest in redeveloping the property.

The Madison County Commissioners have also approved the transfer of ownership of 15 parcels in three properties to the city of Alexandria. One of the parcels, according to Alexandria Economic Development Director Warren Brown, is adjacent to 23 acres previously donated to the city, which are in the process of being transformed into a park. He tells The Herald Bulletin the parcels will allow for parking and a picnic area.

  • Perspectives

    • Hope is Not a Plan

      This is sobering. A local business broker in Indianapolis reports nine out of 10 business owners who want to sell are turned away. Of the one in 10 that does make it past the first analysis to sell, over half of those company owners don’t get the sale price they hope for or believe the business is worth. Bottom line, hope is not a plan if you want to sell your business.



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