Officials in Indianapolis will Friday break ground on an $18 million mixed-use development at the International Marketplace on the city’s west side. The Hanna International Lofts project, which will be constructed in two phases, will include residential and commercial space.
The first phase of the development will include a new complex building that will have 26,000 square feet of commercial space. Construction is expected to be complete in the first quarter of 2019.
The second phase will include 65 residential units that will be added to the remaining land. Most of the units will be available for rent but some will be for sale. Construction on that phase is expected to be complete in August 2019.
Developers say the project will create 225 construction jobs and 125 permanent jobs. The International Marketplace Coalition, the nonprofit helping to develop the area, says the International Marketplace will see more than $176 million in new development and more than 2,000 new jobs over the next 18 months.