InsideINdianaBusiness.com Report
A new mixed-use development in downtown Indianapolis will now be called CityWay. Crews broke ground on the $150 million project formerly known as North of South this morning. The development will feature a hotel, high-end apartments, restaurants, retail shops, and a YMCA.
August 3, 2011
News Release
INDIANAPOLIS – Mayor Greg Ballard today joined Buckingham Companies in announcing CityWay will be the new name and brand of the transformative downtown development formerly known as North of South. Project stakeholders, city officials, neighborhood groups, local businesses and other partners gathered at the site this morning for the official groundbreaking, representing another step toward transforming a much-needed link between neighborhoods and businesses on the city’s Near-Southside and the core of Downtown.
“From CityWay and 16 Tech to developments along Mass Ave and in Broad Ripple and our citywide RebuildIndy improvements, there are signs of progress everywhere in Indianapolis,” said Mayor Ballard. “This project spurs job creation, breathes new life into Downtown and brings new people to live and invest in our city. By connecting surrounding neighborhoods with businesses and internationally recognized corporate headquarters, CityWay will increase our ability to attract talented individuals to live and work here.”
The upscale mixed-use community will feature a world-class business hotel, several hundred high-end apartments, 40,000 square feet of restaurants and retail shops, and a new flagship, state-of-the-art YMCA. Buckingham anticipates a significant economic impact on the area, both during and after construction.
“CityWay will create thousands of new jobs and will also help to attract and retain the highly experienced and qualified employees Indianapolis companies must have to compete in a global marketplace,” said Brad Chambers, President and CEO of Buckingham. “Additionally, CityWay will produce an estimated $350 million in income generation and consumer spending over its first five-year period. The project will be a huge benefit to the area, and we are very pleased to move forward.”
Buckingham is partnering with Dolce Hotels and Resorts, an international company known for its high-end, business-focused properties. Dolce envisions the hotel, and its place within CityWay, as a model for future Dolce brand projects. “In terms of location, vision and mission, CityWay is an ideal development for the Dolce brand,” said Steven Rudnitsky, president and CEO of Dolce. “We see CityWay as a trend-setting model where Buckingham’s innovative development and design meet Dolce’s world-class service, cuisine and amenities.”
The YMCA at CityWay will allow the organization to expand its program offerings downtown. “Our aim is to make Indianapolis one of the top 10 healthiest cities in America, and this project, along with other current and planned YMCA locations in our region, will play a major role in accomplishing that goal,” said Eric Ellsworth, President and CEO of YMCA of Greater Indianapolis. “This facility will be our organization’s flagship location and will serve a diverse demographic of downtown residents and employees.”
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Source: City of Indianapolis