Luxury housing developer Edward Rose & Sons plans to demolish the former Main Event entertainment building on East 82nd Street between North Keystone Avenue and Allisonville Road to build apartments in its place.
The Company is seeking permission from the Department of Metropolitan Development to rezon approximately 10 acres for multi-family housing development in the Clearwater area near Keystone at the Crossing.
Under plans submitted to the city, the complex would have 299 units that are a mix of 1, 2 and 3 bedrooms ranging in size from 700 to 1,700 square feet. The current plan envisages three apartment buildings, with one building framing a central leisure and pool area, according to planning documents provided by Edward Rose & Sons.
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The architectural office commissioned for the project is Studio M Architecture.
The developers have not provided an estimated cost for the project.
Mike Gorman, president of Edward Rose & Sons’ Indianapolis division, told IndyStar that the key factor in choosing this location was its proximity to such a large retail district.
A staff report from the Planning Committee recommended approval of the rezoning application.
The main event building closed in March 2020 due to the pandemic and never reopened.
The rezoning plan is scheduled to be presented to the Metropolitan Development Commission hearing examiner on December 15. The application is then referred to the larger commission, and then the Indianapolis City-County Council seeks final approval.
If the city approves the rezoning request, Gorman hopes to begin demolition in spring or early summer of 2023, with an expected opening date in 2024.
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Michigan-based Edward Rose & Sons owns a number of properties in the Indianapolis area and throughout the country, particularly in the Midwest.
The Company also has several other properties under construction in Indiana, including a $76 million mixed-use development in Carmel at Old Meridian and Main Streets. TIF funding for the project was approved by Carmel City Council in May.
IndyStar reporter Brittany Carloni contributed to this report.
Contact IndyStar business reporter Claire Raffford at [email protected] or on Twitter @claireraford.