{"id":1004121402,"date":"2015-06-17T09:52:18","date_gmt":"2015-06-17T17:52:18","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=353214"},"modified":"2020-05-10T23:15:33","modified_gmt":"2020-05-11T07:15:33","slug":"proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/","title":{"rendered":"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing"},"content":{"rendered":"<p><em>By Adriana Pop, Associate Editor <\/em><\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Brownsburg-Mixed-Use-Project.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-353215\" title=\"Brownsburg Mixed-Use Project\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Brownsburg-Mixed-Use-Project.jpg\" alt=\"Brownsburg Mixed-Use Project\" width=\"300\" height=\"218\" \/><\/a>A proposed $70 million mixed-use development could soon transform the nondescript downtown area of Brownsburg into a lively retail and residential hub.<\/p>\n<p>According to the <em><a href=\"https:\/\/www.ibj.com\/articles\/53592-brownsburg-is-latest-community-aiming-to-make-downtown-a-destination\" rel=\"nofollow\">Indianapolis Business Journal<\/a><\/em>, plans call for a five-story apartment complex with 80,000 square feet of ground-level retail space.<\/p>\n<p>If approved, the project could break ground within 12 months. It would rise on a five-acre parcel at the northeast corner of Green and Franklin streets. The land is owned by Brownsburg resident Rick Bolt, who is seeking a development partner for the complex. Responses to Bolt\u2019s request for proposals are due July 23.<\/p>\n<p>The town of Brownsburg has decided to include the project into its tax-increment financing district and intends to support the developer by either paying for a 500-space parking garage or by financing infrastructure improvements.<\/p>\n<p>The cost of the garage, considered to be essential to attracting more development, would amount to $7.5 million.<\/p>\n<p>At an average of between 800 square feet and 900 square feet, the new apartments are expected to rent for about $1.10 per square foot. Meanwhile, monthly rents in other Indianapolis suburbs like Carmel and Fishers reach $1.25 per square foot.<\/p>\n<p>The new development could also benefit from the construction of a $25 million, 80,000-square-foot recreation center town officials hope to build on the west side of Green Street. The project would rise on the former St. Malachy Catholic Church and school property and could be followed by a second mixed-use facility, for which plans have yet to be finalized.<\/p>\n<p><em>Photo credits: interdesign.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A proposed $70 million mixed-use development could soon transform the nondescript downtown area of Brownsburg into a lively retail and residential hub.<\/p>\n","protected":false},"author":260,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1590,21742],"tags":[],"class_list":["post-1004121402","post","type-post","status-publish","format-standard","hentry","category-indianapolis","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing\" \/>\n<meta property=\"og:description\" content=\"A proposed $70 million mixed-use development could soon transform the nondescript downtown area of Brownsburg into a lively retail and residential hub.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-06-17T17:52:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-11T07:15:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Brownsburg-Mixed-Use-Project.jpg\" \/>\n<meta name=\"author\" content=\"Adriana Pop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/\"},\"author\":{\"name\":\"Adriana Pop\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"headline\":\"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing\",\"datePublished\":\"2015-06-17T17:52:18+00:00\",\"dateModified\":\"2020-05-11T07:15:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/\"},\"wordCount\":260,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Brownsburg-Mixed-Use-Project.jpg\",\"articleSection\":[\"Indianapolis\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/\",\"name\":\"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Brownsburg-Mixed-Use-Project.jpg\",\"datePublished\":\"2015-06-17T17:52:18+00:00\",\"dateModified\":\"2020-05-11T07:15:33+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Brownsburg-Mixed-Use-Project.jpg\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/06\\\/Brownsburg-Mixed-Use-Project.jpg\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/c6fbe4a6cd09e6097b39e787ae96d7ad\",\"name\":\"Adriana Pop\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Adriana.jpg?w=91\",\"caption\":\"Adriana Pop\"},\"description\":\"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\\\/\\\/www.linkedin.com\\\/in\\\/ioana-adriana-pop-811772108\\\/.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adriana-pop\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/","og_locale":"en_US","og_type":"article","og_title":"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing","og_description":"A proposed $70 million mixed-use development could soon transform the nondescript downtown area of Brownsburg into a lively retail and residential hub.","og_url":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-06-17T17:52:18+00:00","article_modified_time":"2020-05-11T07:15:33+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Brownsburg-Mixed-Use-Project.jpg","type":"","width":"","height":""}],"author":"Adriana Pop","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/"},"author":{"name":"Adriana Pop","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"headline":"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing","datePublished":"2015-06-17T17:52:18+00:00","dateModified":"2020-05-11T07:15:33+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/"},"wordCount":260,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Brownsburg-Mixed-Use-Project.jpg","articleSection":["Indianapolis","News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/","url":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/","name":"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Brownsburg-Mixed-Use-Project.jpg","datePublished":"2015-06-17T17:52:18+00:00","dateModified":"2020-05-11T07:15:33+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Brownsburg-Mixed-Use-Project.jpg","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/06\/Brownsburg-Mixed-Use-Project.jpg"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/proposed-70m-mixed-use-development-awaits-approval-may-receive-tax-increment-financing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Proposed $70M Mixed-Use Development Awaits Approval, May Receive Tax Increment Financing"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/c6fbe4a6cd09e6097b39e787ae96d7ad","name":"Adriana Pop","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Adriana.jpg?w=91","caption":"Adriana Pop"},"description":"Adriana Pop is a senior editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2012, with an academic background in economics, English and Italian. She currently curates the CPE Sneak Peek newsletter, highlighting noteworthy stories and emerging topics for readers. Connect with her at adriana.pop@cpe-mhn.com or on LinkedIn: https:\/\/www.linkedin.com\/in\/ioana-adriana-pop-811772108\/.","url":"https:\/\/www.commercialsearch.com\/news\/author\/adriana-pop\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/260"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004121402"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121402\/revisions"}],"predecessor-version":[{"id":1004433277,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004121402\/revisions\/1004433277"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004121402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004121402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004121402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}