Indianapolis-based Flaherty & Collins Properties will hold a groundbreaking Wednesday on a $121 million mixed-use development on part of the former Market Square Arena site. The 28-story tower includes luxury apartment space and a Whole Foods Market.

February 16, 2015

News Release

Indianapolis, Ind. — Flaherty & Collins Properties has announced that it will officially break ground on the 28-story, $121 million mixed-use luxury residential apartment tower on the north parcel of the former site of Market Square Arena. The development, at nearly 300 feet tall, will feature a 40,000 square foot Whole Foods Market. An official ceremony will be held on Wednesday, February 18, 2014 at 9:00AM at the corner of Market and Alabama Streets in downtown Indianapolis.

At the ground breaking event, City of Indianapolis Mayor Greg Ballard and City-County Councilman Vop Osili will speak about the project. Flaherty & Collins Properties will also unveil the name and logo of the development.

“We have finalized the financial aspects of the project and are thrilled to break ground on what will be one of the finest mixed-use high rise multifamily towers in the country,” says David Flaherty, CEO of Flaherty & Collins Properties. “This project means a great deal to the future residents of downtown Indianapolis and the vision for a walkable, bikeable and connected downtown. We are excited to get started.”

The development consists of 292 luxury one, two and three-bedroom apartment residences that will feature floor-to-ceiling glass, solar shades, quartz countertops in kitchens and baths, gourmet kitchens with energy efficient appliances that include side-by-side refrigerators and recessed balconies. Select units will include private terraces.

Residential amenities include a Sky Terrace at the top level with gorgeous panoramic views of Downtown Indianapolis. A 5th level amenity deck will offer a resort-style heated saltwater pool with sundeck and cabanas, aqua lounge, elevated bark park with pet grooming area, Sport Court and Great Lawn, an outdoor kitchen, fireside lounge and grilling areas with a view of Monument Circle.

Additionally, residents will enjoy a 24-hour, state-of-the-art fitness center, resident lounge and clubroom with billiards, wine storage, business center, Wi-Fi throughout common areas, electric car charging stations, controlled building access, garage parking, secured bike storage and bike repair shop. Concierge services will include dry cleaning and laundry drop off service.

“This project will transform downtown living and add a bold new landmark to Indy’s skyline,” Mayor Greg Ballard said. “Urban residents want unique places to live, and this development delivers the type of architectural excellence that will help attract new people and companies to the thriving Market East District.”

The project, at 648,561 square feet, will have an additional 2,000 square feet of retail space and a 600-space parking garage.

For more information on Flaherty & Collins Properties, contact Brian Moore at 317-816-9300 or visit www.flco.com.

About Flaherty & Collins Properties: In business since 1993, Indianapolis-based Flaherty & Collins Properties is the most active mixed-use, multi-family developer in the Midwest, with over one-half billion dollars currently in development in Indianapolis, Cincinnati, Minneapolis/St. Paul, Chicago and Kansas City. The award-winning firm manages over 15,000 units in 12 states. For more information about the company, go to www.flco.com or call 317-816-9300.

Source: Flaherty & Collins Properties

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