Fishers council approves plan for condos, townhouses, apartments on Nickel Plate Trail
UPDATE: The Fishers City Council voted 9-0 Monday to approve an economic agreement for a $75 million housing project along the Nickel Trail near 121st Street.
The CityWalk development by owner Village Holding Group and developer Wanas Group includes 41 townhomes, 106 condominiums, and an 87-unit apartment building.
"We have been working tirelessly for over a year to secure the land acquisition, design details, and city approval for the CityWalk," developer Hossam Wanas said in a prepared statement. "We cannot wait to bring this project to life and contribute to the flourishing dynamic of downtown Fishers."
Mayor Scott Fadness said the project "complements and brings diversity to housing in downtown and frankly elevates architectural standards for our city significantly."
The building with the condos, hugging the trail, will have a tiered design to create rooftop space with views of the city and a pond.
Wanas said almost half the land will be green space, amenities, and connections for the public between Lantern Road and the Nickel Plate Trail.
Previously: A developer is proposing a $75 million project of apartments, condominiums and townhouses north of 116th Street along the Nickel Plate Trail.
The CityWalk project by owner Village Holding Group and developer Wanas Group, of Fishers, would feature two 6-story buildings with a combined 101 condos, a 4-story building with 87 apartments and a 4-story building with 41 townhouses.
Near complete Fishers Nickel Plate Trail has a finish date for final leg of $15 million project
The complex would be south of 121st Street and west of the Nickel Plate along Lantern Road, according to an economic development agreement with the city.
Village Holdings said it is investing $75M into the development and includes $16.1 million in assistance from Fishers, which has agreed to issue a bond that the developer will pay back from the captured property tax increase.
The developer has purchased 16 properties in the area to clear room for the project, said city spokeswoman Ashley Elrod.
The proposal will be presented Monday to the City Council.
Plans for the residential development follows the opening a year ago of Nickel Plate Station, a 237-unit apartment building along the trail at 116th Street with retail on the first floor.
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This article originally appeared on Indianapolis Star: Fishers council approves development next to Nickel Plate Trail
