INDIANAPOLIS (WISH) — Following months of pushback from neighbors in Pike Township, the companies behind a controversial commercial project near Eagle Creek Park are withdrawing their plans for the massive development.

Cornerstone Companies and GCG Investments confirmed to News 8 on Thursday the cancellation of The Crossing at Traders Point on West 86th Street near I-465.

In a statement, they cite significant opposition to its “vision for a world-class business park” as the reason behind the decision.

The Indianapolis City-County Council was set to vote on rezoning the land for commercial use on Oct. 16.

Back in July, the developers received approval from the Metropolitan Development Commission to continue with its plans.

The project was planned to be a 200-acre site for restaurants, retail, healthcare, office space, and a potential hotel.

Cornerstone says 33% of the space was dedicated to conservation and trails.

Several residents in Pike Township voiced their opposition, mainly their concern for nearby Eagle Creek Park and the reduction of green spaces. Others feared life in the neighborhood would be disrupted with increased traffic brought on by new businesses.

In its statement, Cornerstone says it understands there are still objections to the project.

“Given that it has always been our philosophy to work with the local community towards a project welcomed by the majority of stakeholders, we have elected not to move forward with the West 86th Street project and will withdraw our zoning position from the Indianapolis City Council.”

According to the developer, the Crossing at Traders Point was projected to bring in $4 million dollars in property tax revenue and generate about 8,000 jobs.