International Marketplace Seeks 'Affordable Alternative'

Posted: Updated:
(rendering courtesy International Marketplace Coalition) (rendering courtesy International Marketplace Coalition)

The director of economic development for the International Marketplace Coalition says a new $18 million mixed-use development is a big part of a plan to "create a village" on Indianapolis' west side. Terri Skipper says the Hanna International Lofts project will help develop "an affordable alternative to downtown" by helping lift businesses that are there and supplement them with new retail and residential options.

During an interview with Inside INdiana Business Reporter Mary-Rachel Redman at today's groundbreaking, Skipper said the project reflects a strategy of "development without displacement."

Skipper estimates the 18-month project will create more than 1,500 construction jobs. Once the development is complete, she gives what she calls a "very conservative" estimate of 50 new permanent jobs from about a dozen new businesses locating there.

Phase 1 of the development involves a building with 26,000 square feet of commercial space. That portion is expected to wrap up in the first quarter of 2019. The second phase includes 65 residential units, with plans for it to be complete in August 2019. Skipper says the goal is to provide what the community needs without "pricing out" the people who are living there.

In all, the nonprofit International Marketplace Coalition expects the project to result in more than $176 million in new development.

  • Perspectives

    • (photo courtesy of Conexus)

      October Celebrates Indiana’s Vibrant Manufacturing Industry

      Indiana is the most manufacturing intensive state in the country and more than a third of the state’s GDP comes from the industry. The health and wellness of Indiana’s economy is dependent on the state’s manufacturing industry. But Hoosiers face a challenge: it is expected that nearly a quarter of the current manufacturing workforce will be of retirement age in the next 10 years and we lack the generational workforce to make up that gap.



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • (image courtesy of The Times of Northwest Indiana)

      U.S. Steel Updates Layoff Notice to State

      Pittsburgh-based U.S. Steel Corp. (NYSE: X) has updated the State of Indiana regarding its previously announced layoffs at the East Chicago Tin Mill. The company says 314, rather than 307, workers will be displaced when the mill is idled this fall. 

    • Regal Beloit is closing in Valparaiso. (photo courtesy; The Times of Northwest Indiana)

      Valpo Bearings Plant to Close, Eliminating 160+ Jobs

      Wisconsin-based Regal Beloit Corp. and the union representing workers have reached an agreement about the closing of a helicopter bearing factory in Valparaiso. According to our partners at The Times of Northwest Indiana, the decision will cost between 160 to 170 workers their jobs. 

    • AM General & Fiat Chrysler announce plans to build military grade Jeep Gladiator pickup trucks.

      AM General, FCA Collaborate on New Military Grade Jeep

      Nearly 80 years since the first jeep rolled off the assembly line, and helped support American soldiers throughout World War II, it appears the trusted four-wheel-drive machine may be making a comeback in the U.S. military. South Bend-based AM General LLC has teamed up with Fiat Chrysler Automobiles to build military-grade versions of the 2020 Jeep Gladiator pickup truck. 

    • Red Star announced plans to expand and add 18 jobs.

      Larwill Medical Device Maker to Expand, Add Jobs

      A Whitley County-based medical device maker has announced plans to expand its facility in Larwill which should mean new jobs. Red Star Contract Manufacturing Inc. says it will invest $1.6 million in real estate improvements and additional equipment and will create 18 new jobs by 2022. 

    • Jaci Lederman

      Vincennes Professor Wins Prestigious Award

      The International Council of E-Commerce Consultants has honored Vincennes University faculty member Jaci Lederman with the Academic Instructor Circle of Excellence award. She is chair and associate professor of the Information Technology Department. Lederman won the distinction due to her commitment to cybersecurity education.