Development Plans Move Forward

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A major development planned for an Indianapolis cultural district has received a key approval. The City-County Council voted in favor of nearly $8 million in tax increment financing for a $25 million Broad Ripple project that would include 100 luxury apartments and a Whole Foods grocery store. Carmel-based Browning Investments is the developer.

The proposal has received a lot of scrutiny. Some opponents content it doesn't fit with other developments in the area. One member of council, Zack Adamson, voted against it, saying TIF money should be used for projects in areas with economic challenges.

Monday's approval also includes $1.5 million to help improve Tarkington Park, a city park located nearly 4 miles from Broad Ripple.

Source: The City-County Council in Indianapolis