(rendering courtesy of Thompson Thrift)

Construction has started on a $63 million project that will bring 242 single family units to Fishers. Indianapolis-based developer Thompson Thrift Residential says Slate at Fishers District will offer luxury housing in a build-for-rent community.

The development is located on 25 acres in the southeast quadrant of I-69 and 116th Street near IKEA. Thompson Thrift says Slate at Fishers District will consist of farmhouse style one-, two- and three-bedroom villas, along with three- and four-bedroom townhomes. The residences will average 1,215 square feet.

“We continue to see demand from renters that want the maintenance-free benefits and amenities of traditional apartments with the space and comforts of single-family homes,” said Eric Wojak, vice president of development, luxury leased homes. “With its location in the highly rated Hamilton Southeastern School District and its proximity to excellent employment, and the retail and dining options at Fishers District, we expect leasing interest at the Slate development to be robust.”

Our partners at the Indianapolis Business Journal report the development was previously called The Villas at Fishers District. As part of the project, a public park including a paved trail will be constructed, providing direct pedestrian and bike access to Fishers District.

“We look forward to commencing construction and working with our residential team to deliver another innovative and aesthetically pleasing community to the city of Fishers,” said Brian Timberman, president of Thompson Thrift Construction.

The company says the development will be ready to welcome its first residents in early 2023. Slate at Fishers District will be the company’s fourth development in Fishers.