The Fishers City Council will vote Monday night on a proposed $40 million culinary and entertainment center known as The Yard. Fishers Mayor Scott Fadness says the development meets the city’s vision of an entrepreneurial community and will provide residents with the kinds of unique restaurant experiences they are seeking.
The 17-acre development will up to 12 independent restaurants anchored by a restaurant and culinary accelerator in which entrepreneurs develop and pursue new restaurant and food concepts.
In an interview with Inside Indiana Business Television, Fadness said entrepreneurship does not reside only in the tech sector, but rather in all industries. "When this development came up, we saw an opportunity to leverage one of the best real estate sites probably in the state and create really a culinary hub for entrepreneurial activity around restaurants and food products. We’re really excited about this project."
The economic development agreement with developer Thompson Thrift Retail Group includes a Tax Increment Financing District for the property being developed, which Fadness says will help bring down the cost of the project. The agreement also includes the issuance of more than $7 million in economic development bonds.
Fadness says, if approved by the council, construction on the project could begin next summer.