GREENWOOD, Ind. (Oct. 28, 2015) - The City of Greenwood and Indianapolis-based Gershman Parters want to build a $90 million shopping mall on a plot of land where two other developments failed to materialize.
The retail complex, called Greenwood Town Center would be located next to the County Line Road interchange with I-65. That’s the same area where outdoor retailer Cabela’s abandoned plans for a large store and water park in 2009, and financial trouble halted plans by GoodSports to build a sports complex and hotel last year.
Greenwood Mayor Mark Myers has heard cliches like “jinxed” and “cursed” to describe the 100 acre plot of land. He chose a different cliche to describe the latest plan.
“Well, today, it’s third time’s a charm,” Myers said.
Myers says his confidence comes from the track record of Gershman Partners. They were the developers who built Hamilton Town Center in Noblesville and the Market District in Carmel.
“It gives me a lot of comfort knowing that they do have a history and that they are local and they’re doing something good,” Myers said.
Greenwood Town Center is being marketed as a high-end retail complex that would span 700,000 square feet. Myers said Gershman is looking for tenants like Nordstrom Rack, Dave & Busters and Bass Pro. Plans also include a high-end movie theater.
The mall would join the ever-expanding development in the Greenwood area, including a new Kroger Marketplace, Walmart Super Center, and proposed Costco.
Shoppers in the area were excited to hear of plans for the new shopping center.
“The population has just exploded,” said Greenwood resident Jamie Percifield. “So I think that we need more places to shop because of the population growth.”
Sandy Evers lives in Greenwood, but actually commutes to her job at Hamilton Town Center. She looks forward to the same type of facility coming to the south side.
“It is really packed with stores, but new ones are always welcome,” Evers said. “Maybe better deals, lot more shopping, lot more eating places.”
Myers said the city currently has $2 million in TIF money ready to build the infrastructure like roads, parking, landscaping and utilities. Gershman is currently seeking tenants before approaching the city for the proper permits and approval.
If all goes according to plan, construction at the site would start sometime next summer, with “Greenwood Town Center” opening by the end of 2017.
Construction to widen I-65 to the north of the mall is already finished, and should be complete between Greenwood and Franklin well before the new mall would open. Myers said that will help to ease traffic congestion while bringing more shoppers and diners to the new complex.