Redevelopment ideas laid out for West Washington St corridor

A detailed look at redevelopment ideas for the West Washington St corridor is offered through a new visioning study.
 
The development of hundreds of acres of property along West Washington St is the focus of the latest report. The City of Indianapolis, Develop Indy and the Indianapolis International Airport worked together on the plans that include numerous parcels, many owned by the airport.

Develop Indy Director of Indianapolis Economic Development Aletha Dunston says it builds on previous studies of the area.

“The goal of this was really to deepen that work and figure out how to put that work through the lens of economic and market realities,” Dunston said.

Community members, businesses, and other stakeholders provided feedback on the plan.  The report finds a desire for pedestrian infrastructure, green space, housing, and mixed-use development. 

Opportunity sites are identified and different types of redevelopment strategies are outlined. Ideas include larger business spaces and neighborhood-focused sites along the corridor.

Dunston says the report digs into areas with the most potential.

“Over 400 acres that we can highlight as strong possibilities for redevelopment that we were able to evaluate and look at what might they generate and what might they need from an infrastructure perspective,” Dunston said.

Information shows it is feasible and redevelopment will likely be supported by tax increment financing, or TIF districts.  TIF districts create funding by setting up a development area that captures future tax dollars.

There is no timeline but planners say some developers have shown interest in sites.  The city would have to approve any TIF districts that would be attached to development.

Contact WFYI city government and policy reporter Jill Sheridan at jsheridan@wfyi.org.