Transactions - SEPTEMBER 18, 2017

Hendricks Commercial Properties to build $260m mixed-use project in Indianapolis

by Andrea Waitrovich

Hendricks Commercial Properties plans to start construction next spring on the $260 million redevelopment of a former Coca-Cola bottling plant in Indianapolis.

The 12-acre project is called Bottleworks.

Located at 850 Massachusetts Ave., the project will occur over seven to 10 years in five phases, starting with the restoration and redevelopment of the historic Coca-Cola administration building and garages.

The first phase of the project will include a 150-room West Elm Hotel and a food hall called The Garage, which will sell fresh produce, meats, and baked goods, and house startup and independent businesses.

The development will also include more than 70 apartments units, more than 60 condominiums, an eight-screen movie theater, more than 180,000 square feet of office space, 200,000 square feet of retail space, and a 1,800 parking space garage.

Developers are expected to break ground on the project in May 2018 with the hotel and food hall opening in late 2019.

The Indianapolis Historic Preservation Committee approved the plans for the Bottleworks project at the plant in July.

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