Midtown Development Partners LLC has gained City support to secure a developer-backed bond not to exceed $3.5 million for the Eight Eleven Group’s corporate headquarters project in the 6200 block of North College Ave. on the Red Line corridor in Broad Ripple.
According to the development team, TIF funds would be used for site work, public art, structured parking, sidewalks and landscape improvements. The $22 million project will add 53,000 square feet of office space in the north building and 28,000 square feet of office/retail space plus 36 workforce housing units in the south building.
In addition to 51 on-site underground parking spaces, the developer has reached an agreement to lease additional spaces at the nearby Broad Ripple Parking Garage. Once utility issues are resolved with AES, construction is set to begin this summer.
