INDIANAPOLIS — A proposed new development in Pike Township is receiving a lot of pushback from neighbors in the Trader Point area.
Developers are trying to rezone the former farmland from residential to commercial use.
This 200-acre property is located just west of Interstate 465 between 79th and 86th Streets.
Indianapolis-based Cornerstone Companies, along with GCG Investments LLC, is looking to develop the land in a $500 million project.
The plan includes a hotel, apartments, medical, retail, life sciences research and office space. It is called “Traders Point Crossroads”.
Developers claim it could bring millions of dollars to the local economy, but neighbors have left dozens of “unnecessary, just greedy” signs in the area. established and make their position clear.
“I think it's too commercial for this side of 465,” said Mark Nordmeyer of the Pike Township Residents Association.
On Wednesday, the Pike Township Residents Association formally voted to oppose the project after receiving a zoning petition in April.
“We tried very hard to reach an agreement. It just wasn't possible,” said PTRA President Susan Blair.
The concern is that the area could become too commercialized, with many saying traffic congestion is already a concern in the area.
“Unless the infrastructure is fixed, commercial development here is not going to solve the problem,” Nordmeyer said.
PTRA said neighboring countries are not against development in the area, but rather against this particular type of development.
“As the developer has said, this is one of the last large properties left undeveloped in Marion County. Over time, it will become more and more attractive to developers. It’s to make sure we get the right thing,” Nordmeyer said.
Many steps still need to be taken before construction can begin. The developer still needs approval for the zone change. The decision will be heard by a hearing officer at the city's Urban Development Commission on July 27.