$1.1 billion in economic development, entertainment projects coming to Fishers
Fishers City officials announced today more than $1.1 billion in economic and entertainment investments. This is the largest single-day announcement in Fishers’ history. The projects will be presented to the Fishers City Council on Monday, September 19.
Thompson Thrift’s Next Phase of Fishers District
Thompson Thrift, the master developer of Fishers District, shared its plans to bring more neighborhoods of the popular culinary and entertainment destination to Fishers. The $550 million in additional developments will include new retail, restaurant, entertainment, and residential options within a walkable and vibrant community setting. The development will be located east of I-69 between 106th and 116th Streets southeast of IKEA.
The expanded Fishers District will be anchored by an event center that will host sporting, theatrical, and entertainment events for up to 8,500 spectators. Indy Fuel owner Jim Hallett announced the Indy Fuel would call the event center its home beginning with the 2024-2025 season. Fans and patrons alike will experience entertainment in a new way with family suites, enhanced areas for hosting, and modern fan experiences.
The overall expansion of Fishers District includes Slate, a previously announced multi-family and garden home community with direct access to Fishers District; The Union, an expansion of the lifestyle, multi-family, and entertainment options at the District which, upon completion, is visioned to include approximately 250 luxury apartments, 60,000 square feet of retail and restaurants, 150 hotel rooms, and up to 80,000 square feet of Class A office space in a vertically stacked environment; and The Commons, home to the new Fishers event center and additional new-to-market restaurant, retail, and entertainment destinations, as well as additional residential options.
“This is a monumental day for our city,” said Mayor Fadness. “Fishers is thriving and today’s announcement demonstrates that our momentum isn’t slowing down. Since 2019, residents and visitors of Fishers have enjoyed The Yard at Fishers District with a demand we haven’t experienced elsewhere. This announcement to expand the District into even more neighborhoods is exciting news from an entertainment perspective, but also because of the economic development promise to come. This expansion not only answers the call from CEOs and employees looking for restaurants and entertainment but can now be home to our schools’ graduations and statewide sporting events.”
Indianapolis-based Thompson Thrift, a full-service real estate company, will act as the master developer for the Fishers event center and the surrounding neighborhood districts. The company has vast experience in commercial development and focuses on ground-up mixed-use and retail development across the Midwest, Southeast and Southwest. In Fishers, Thompson Thrift previously developed The Yard at Fishers District.
“We are excited to grow our presence in the ever-expanding community of Fishers,” said Ashlee Boyd, Thompson Thrift managing partner, commercial. “Part of our mission is to positively impact the communities we serve. By attracting new businesses, new jobs and more entertainment to Fishers, we are confident this development will enhance the experience of those living in and visiting this dynamic community.”
Once complete, the Indy Fuel, the professional hockey minor league affiliate of the NHL’s Chicago Blackhawks, and Hallett Sports & Entertainment will officially move its headquarters from the Indiana State Fairgrounds to Fishers with the event center serving as the team’s primary facility. Hallett Sports & Entertainment will manage the event center and provide day-to-day operational and booking management. The Indy Fuel currently utilizes the Fuel Tank, located in Fishers, for its practice and residential facilities.
“I’m thrilled to bring the fun and excitement of Indy Fuel hockey and its fan base to Fishers,” said Jim Hallett, owner of the Indy Fuel and chairman of Hallett Sports & Entertainment. “We are beyond excited to not only bring the Fuel to Fishers, but also have Hallett Sports & Entertainment manage the new facility for the community. We intend for the event center to be the best facility of its size anywhere, create unique experiences for fans, families and groups, and bring a multitude of different types of events and attendees to the city and region.”
Stevanato Group’s Expansion
Stevanato Group announced in June 2021 their intent to build a 200,000 square foot facility in the Fishers Life Science and Innovation Park with a $140 million investment to build their facility and hire 250 employees for their high-wage, innovation positions. In early 2022, Stevanato executives approached the City of Fishers to share their plans to further invest in their planned facility. Stevanato will present a proposal to the Fishers City Council to update its total investment to $512 million with a plan to hire a total of 515 employees by 2031. The Stevanato facility will open in early 2024.
“Stevanato’s additional commitment to Fishers is incredibly encouraging for the market, this sector, and reaffirming Fishers’ position as a destination for life science firms,” said Mayor Fadness. “By more than doubling their investment in Fishers, Stevanato’s position as a global leader will undoubtedly positively impact our community and regional neighbors.”
Andretti Global’s Headquarters
Andretti Autosport announced in late August its intent to build and establish its $200 million global headquarters at the Indianapolis Metropolitan Airport’s undeveloped business park property. The headquarters will bring Andretti’s operations for all racing entities, research and development, and history museum to one campus location. Pending City Council approval, the facility will break ground in late 2022 and open early 2025.
The Fishers City Council will vote on economic development agreements for Stevanato and Andretti Global at its next council meeting on September 19. The Council will also initiate the introductory financing for the event center and begin the rezoning process for Thompson Thrift at the same meeting.
For more information about this announcement, visit thisisFishers.com/NextChapter.