Indianapolis Business Journal reporter Mickey Shuey, who is new to the publication’s North of 96th beat after years of reporting on other IBJ beats, has hit the ground running, reports that Fishers District now represents more than $900 million in completed and committed investment—and city officials say it is far from finished.
The district began with The Yard, which opened near East 116th Street and Ikea Way in 2019. It has since expanded to include restaurants, housing, hotels, offices and the 8,500-seat Fishers Event Center.
Mayor Scott Fadness told Shuey that additional development could easily push the district’s total investment beyond $1 billion.
Indianapolis-based Thompson Thrift has worked with Fishers on the district since 2015. The master developer is nearing completion of The Union at Fishers District, while construction continues on an expansion called The Crossing.
At the district’s southern end, Buckingham Cos. is developing apartments, town houses and a sports facility. The company is also working with JD Sports on plans to move the retailer’s North American headquarters from Indianapolis to the former Navient office complex along Interstate 69.
The Yard has maintained an overall occupancy rate of about 95%, according to Thompson Thrift. Its restaurant and retail spaces are full, while only two small retail vacancies remain in The Union.
More than 500 apartments and nearly 40 town houses have been developed within the broader corridor, with most leased or sold. Union Flats is expected to add 251 apartments later this year.
Thompson Thrift CEO Paul Thrift said The Yard’s restaurant-centered model was unusual when planning began. Rather than relying on a grocery store or traditional retailer as an anchor, the development made dining and entertainment its primary attractions.
Housing was also essential to creating activity throughout the day. The district benefits from nearly 171,000 people living within five miles and from its location near an I-69 interchange.
Upcoming additions include Indiana’s first AC Hotel by Marriott. The Crossing is expected to feature a 10,000-square-foot Prime 47 steakhouse and the state’s first hotel under Hilton’s Curio brand.
Professional sports have become another major draw. The $170 million Fishers Event Center is home to the Indy Fuel hockey team, Indy Ignite volleyball team and Fishers Freight indoor football team.
The Ignite is also building a 29,000-square-foot headquarters as part of Buckingham’s planned fieldhouse development. Fishers will own the 180,000-square-foot fieldhouse, projected to cost $65 million.
The growth has required substantial public support. Fishers has issued $56.6 million in tax-increment-financing bonds for multiple phases of the district, in addition to building the event center and committing to the fieldhouse. JD Sports is also set to receive a 10-year tax abatement for its headquarters relocation.
City officials argue those investments will encourage long-term commercial and entertainment growth. Fishers’ population has risen from about 38,000 in 2000 to approximately 106,000 in 2026.
More development could occur on both sides of East 116th Street. About 60 acres north of The Yard are owned by Sunbeam Development Corp., while additional land remains near Buckingham’s projects south of the event center.
Fadness said discussions with property owners and development partners are underway. For Fishers District, reaching $1 billion might be less a finish line than the start of its next chapter.
You can read Shuey’s entire story at this link, but you will need an IBJ subscription to access the piece.