INDIANAPOLIS — A well-known downtown landmark is still waiting to learn its fate. We’ve been following the future of the Circle Centre Mall and the ownership group says plans are still in the works.
Adam Collins is a partner at Wallack, Somers and Haas and legal counsel to Circle Centre Development Company. He says redevelopment plans are still in the works and have not yet been finalized.
“The ownership group is still committed to finding a redevelopment option and working with our partners at city and state to determine what our best option might be,” Collins said.
Circle Center Mall has lost tenants in recent years. Most recently, Chick-fil-A, which was a resident for 20 years. But new businesses are moving into the mall.
“What the ownership group has done is continue to find new tenants that match the use we have available, and contemplation of redevelopment efforts,” Collins said. “We continue to find new tenants. On Georgia Street, you have the Rhythm and Blues Lounge, others that have come back in.”
Collins says vacancy of the mall is not something they’ve tracked.
“The uses of the mall have evolved over time,” Collins said. “The nature of retail is changing.”
But they’re confident Circle Centre remains a competitive destination for businesses.
“The reason Circle Centre remains an attractive asset is the connectivity it has to other businesses in downtown Indy,” Collins said. “At the same time, that’s what makes it more of a challenge to redevelop and that’s what we’re working through.”
What makes the project so challenging is the land is owned by the city, but the structure was constructed and ran by a private party.
“But we’re still going through that process, still working, and hoping to have an update for everyone sooner rather than later,” Collins said.
We reached out to the city, and they declined an interview, stating they do not have anything to share at this time but look forward to sharing more in the future.