CRG Residential and the City of Fishers officially broke ground today on a $135 million mixed-use project at the northwest corner of 96th Street and Allisonville Road. The River Place development includes a premium apartment community, for-sale townhomes, and commercial retail space situated next to the recently announced 125-acre White River parkland to the west.
In conjunction with the development, the City of Fishers will install a roundabout to replace the current intersection, using land and monetary donations from CRG Residential. CRG Residential also is donating 25 acres of land to boost the size of the adjacent White River nature park planned by the city. Additionally, CRG Residential has acquired the existing retail buildings along Allisonville Road to ensure a cohesive, walkable community master plan.
“This is a special project for Fishers as it acts as a gateway to our community and continues our momentum as part of Fishers’ next chapter,” Fishers Mayor Scott Fadness said. “We appreciate CRG Residential’s financial and land investments that, combined with the state funded READI grant, will support the first phase of the White River park project. Collectively, we hope this development will serve as a transformative amenity and resource to Fishers residents.”
The River Place development will include 381 luxury apartments, 81 for-sale townhomes proposed to be built by Pulte Group, and 35,000-square-feet of mixed-use space. Construction begins this month with plans for move-in ready units in 2024. In addition to construction, CRG Residential will be supporting the city’s effort to re-configure the intersection, which will commence this spring with an anticipated completion date of the end of 2023.
“CRG Residential’s goal with every project we develop is to enhance the area’s value to the community and to provide residents with access to trails, parks, restaurants and other key features,” CRG Residential CEO Chris Reid said. “We look forward to working with the city, our retail tenants, neighbors and other key stakeholders as we carry this project forward to completion.”
Financing for the project is provided by Lake City Bank, Stock Yards Bank & Trust and Centier Bank. The civil engineer is Structurepoint and the architect is Studio M.
CRG Residential has significant experience with similar public-private partnerships in Indiana, throughout the Midwest and eastern United States. CRG is finishing construction of the Nickel Plate Station in downtown Fishers as well as projects in Greenwood, Westfield, Evansville, Elkhart, Newport, Ky., West Des Moines, Iowa, and Traverse City, Mich., among others.