A brightly colored, five-story building of mixed uses will replace the Indianapolis Fire Department station at Massachusetts Avenue and New Jersey streets in Indianapolis, according to designs unveiled today.
The turreted building front will feature changing electronic images — a la Times Square — welcoming visitors to the arts district with its shops, taverns and restaurants.
The project, expected to cost $43 million, will include up to 235 apartments, 40,000 square feet of ground-floor retail and two levels of underground and surface parking, Mayor Greg Ballard said at today’s announcement. A development team consisting of J.C. Hart Co., Strongbox Commercial (led by Paul Kite) and Schmidt Associates will oversee the projects.This is my favorite part, however:
The city is selling the property to developers, officials said, for $5.4 million. Those funds will be placed in escrow, according to a release, and can be accessed by the developer to help fund construction on the site...When will these giveaways of the taxpayers' money stop?