A massive outdoor shopping center in Greenwood isn’t under construction as soon as hoped, but work is expected to start in 2017.
Gershman Partners announced a little more than a year ago plans to build a $90 million shopping center on 105 acres at County Line Road and Interstate 65. Previous plans by other developers for projects at the site have fallen through.
But construction of the Greenwood Town Center could begin in early spring or summer, Greenwood Mayor Mark Myers said officials from Gershman told him in recent weeks. Gershman has needed longer than expected to sign on enough tenants to make beginning the project worthwhile but now has enough shops or entertainment venues lined up to proceed, Myers said.
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What shops or theaters have agreed to move in isn’t being disclosed yet.
“Greenwood Town Center remains a priority for us and its development continues to move forward. A wide range of businesses have shown tremendous interest and discussions are ongoing. We remain committed to the project and look forward to sharing more information when details are finalized,” said Ryan Gershman, a principal with the Indianapolis-based commercial development firm.
Myers said a large movie theater or entertainment venue is being considered and possibly a hotel. Medical or office space could also be built as part of the shopping center, and officials had talked about whether apartment-style living should be included on upper floors, city officials said.
Building apartments is not in the current plans, Myers said, “but to me it only makes sense to do some residential in that area because you will need the bodies to do the shopping.”
The company has yet to file plans with the city of Greenwood, but recently got a crucial OK from the Indiana Department of Transportation to connect to County Line Road, Myers said. Gershman had initially hoped to start construction on the 700,000-square-foot shopping center late this year.
Construction will happen in two phases, Myers said.
The company checked in with the city planning department this summer and expected to file plans that would allow the construction process to start by the end of October, planning director Bill Peeples said. The timetables outlined when the company announced the development a year ago were tentative, and Gershman wanted to have agreements with tenants before any work started.
“The center is well located for success,” Gershman said in a written statement. “We see Greenwood’s growth expanding eastward and in need of this quality, thoughtful development. Prime visibility and access to I-65 will provide a draw for Greenwood as well as surrounding towns/cities including convenient access to the robust heart of downtown Indianapolis.”
The 105-acre development is where Cabela’s outdoor retailer, an indoor water park hotel, then years later a GoodSports fieldhouse and hotel were once planned. The development plans for the indoor water park and Cabela’s were scratched in 2009, when the company pulled out of plans and relocated the development to the north side of Indianapolis. Plans for the GoodSports facility fell through in 2014 after the company couldn’t secure funding for the proposed $22 million hotel and fieldhouse.
