14 Feb, 2017

Construction to begin at vacant IndyStar lot

Construction soon will begin on a nine-story apartment building at 301 N. Pennsylvania St., the plot of land left vacant when IndyStar moved its operations to Circle Centre Mall 2½ years ago.

The 334-unit, $52.2 million Park at Pulliam Square is set to open by summer 2018, with 498-square-foot “micro-studios” starting at $920 a month up to the 2,732-square-foot penthouse for $5,000 a month.

Park at Pulliam Square will be adjacent to Pulliam Square apartments at 152 E. New York St., which opened in summer 2015.

TWG Development bought IndyStar’s 4-acre property covering nearly a full city block at the southern mouth of Mass Ave. for $11.25 million in 2013.

Originally, TWG planned to preserve most of the former IndyStar building and renovate it into a $60 million complex with more than 300 apartments and 5,500 square feet of retail space. But the building proved to be too difficult to convert. An amalgamation of five buildings constructed together, it had different levels that didn’t match. Demolition on the building began in May 2015, and it has been a vacant dirt lot since.

That soon will change, TWG principal Anna Barabas said.

“We should start seeing more vertical visible stuff in the next month or two,” she said. “We are under construction. We are about to start going up. Everyone’s very eager to see that hole filled.”

Pennsylvania Street south of New York Street was shut to traffic last week to work on the storm and sanitary utilities for the development.

Park at Pulliam will have a yet-to-be-confirmed restaurant on the ground floor, a courtyard, a gym with a yoga and spin room that “will feel like a regular gym” and a pool deck on the sixth floor overlooking Military Park.

“We were really marketing the location as being the best amenity that we had there,” Barabas said. “But the pool on the sixth floor with the park views and the city views will be the showstopper.”

The construction is the final piece of TWG’s Pulliam Square development project, which included Pulliam Place Apartments and 333 Penn Apartments, located on the north end of the block.

More retail and living space will contribute to “a denser, more populated downtown” that bridges the Mass Ave. restaurant and bar district to the center of Downtown Indianapolis, Barabas said.

“We wanted it to be a building that the location commands,” she said. “I think it will change the skyline.”

Original article here.