FISHERS (WISH) — A $32.7 million project is moving forward in Fishers.
The city council approved redevelopment of the former Charles Schwab building Monday night. The building, which is a former call center, has been vacant for several years.
The redevelopment project will add to the city’s growing tech district.
Real estate developer Citimark plans to invest in the project. It will buy two buildings from the city of Fishers, the former Schwab building and the nearby building that houses co-working space Launch Fishers, according to documents on the city’s website.
Launch Fishers moved into a 52,000 square foot location earlier this year.
The development in the Schwab building will provide additional space to growing companies and spots for potential new construction, according to city documents.
In exchange for Citimark’s investment, the city plans to waive certain development fees, and the Redevelopment Commission will enter into a lease for the Launch Fishers building and 35,000 square feet of the Schwab building.