The Glendale Town Center on the north side of Indianapolis will soon be seeing more changes. Indianapolis-based Kite Realty Group Trust (NYSE: KRG) has announced plans to redevelop a portion of the shopping center in addition to the $40 million apartment complex currently under construction.
Kite says more than 50,000 square feet of the former Macy’s store will be redesigned to accommodate Ross Dress for Less, Old Navy, Five Below, and other retailers. Macy’s closed the Glendale Town Center location in 2019 and Kite says its Target, Lowe’s, and Staples stores will remain at the shopping center.
Plans for the redevelopment of Glendale Town Center were first announced in September 2019. Work is continuing on a 267-unit apartment complex being developed in partnership with Indianapolis-based Milhaus.
“We are proud of the important role Glendale Town Center has historically played in the city of Indianapolis,” Tom McGowan, Chief Operating Officer of Kite Realty Group, said in a news release. “From its beginnings in 1958 as the city’s first traditional enclosed mall, to its conversion into an open-air center in 2007, to the exciting transformation happening today – Glendale shows that great real estate will continue to evolve and provide value to the surrounding community.”
The redevelopment will also include new bike lanes to improve safety and accessibility, as well as a public art component and green spaces. Kite says the project is expected to be completed later this year.