Greenwood plans new shopping, dining development
GREENWOOD, Ind. (WISH) – A piece of Greenwood real estate that has long been vacant may finally see some development.
A new $90 million retail development called Greenwood Town Center is now planned for the area west of I-65, near County Line Road. It’s the same area that was originally slated for Cabela’s, which decided to build in Noblesville. A hotel and sports complex was also planned last year, but the company’s financing fell through for that project.
The Greenwood Mayor Mark Myers said that the deal is not finalized and does not want to get his hopes up yet.
“There’s always that risk. We’ve had that happen a couple times already. It’s an open contract where they can back out,” said Myers
Gershman Partners is behind Greenwood Town Center and are the same people who are responsible for Hamilton Town Center in Noblesville and the newly-opened Market District in Carmel.
Officials say to expect nearly 700,000 square feet of retail, restaurants and other entertainment options.
“The addition of Greenwood Town Center to this area will spur additional growth in an already strong market,” said Greenwood Mayor Mark Myers, in a press release. “Our focus on building infrastructure has helped create tremendous opportunities not only for our residents, but our neighbors as well.”
Gershman Partners, is locally owned and specializes in commercial development. The company has put earnest money down on the property on County Line Road, according to Myers. Now, they’re looking for tenants, particularly an anchor store.
“Once they land a big deal, I’m not as concerned because I know others will build around it,” said Myers.
They hope to bring in higher end stores like Nordstrom Rack. Myers would also like to see more entertainment places like Dave and Busters and a movie theatre with dining and drink options.
It’s a project downtown restaurant the Revery welcomes.
“I think it’d be great for us. We did build a back bar, so I think it would boost sales too,” said Executive Chef Danny Salgado.
Paul Jacquin owns Vino Villa, a wine and cheese shop in Greenwood.
Wednesday he learned about the new proposed development at County Line Road.
“Anything bringing business to the area introduces new people to the area, potentially brings business our way as well,” he said.
“It may allow folks from other areas in the city to discover some of the things that are here in Greenwood that have been here for a long time,” Jacquin said.
He’s not worried about competition.
“The more traffic you’re generating, bringing down here, we’re probably going to gain more than we lose,” he said.
In a statement, Ryan Gershman of Gershman Partners said:
With our proven track record of developments such as Hamilton Town Center and The Bridges, we have the vision, expertise, and skill set to create this new retail and entertainment center.
Construction is set to begin next year, with hopes of completing the center by fall 2017.