Browning Investments Signs Fresh Thyme Store for $37M Apartment Project
- Feb 23, 2015
by Adriana Pop, Associate Editor
The upcoming 150-unit luxury apartment community rising in the heart of the eclectic Broad Ripple Village in Indianapolis will be anchored by a Fresh Thyme Farmers Market store.
According to the Indianapolis Business Journal, the specialty grocery chain has signed a long-term lease with developer Browning Investments to occupy the project’s 35,000-square-foot retail portion.
Construction on the $37 million apartment and retail complex known as The Coil is scheduled to begin in late March. The grocery is expected to open by next spring, while the 150 apartment units should be ready for occupancy in the following months.
Designed by Browning Day Mullins Dierdorf Architects, The Coil, named after one of the first families to settle in Broad Ripple, will offer a mix of studio, one- and two-bedroom market rate apartments ranging from 600 square feet to 1,800 square feet. Plans also call for a four-story, 350-space parking garage.
Fresh Thyme Farmers Market, a Phoenix-based startup, recently opened three stores in Indianapolis this year: at 4225 E. 82nd St. in the Lake Clearwater area, at 8750 U.S. 31 north of Greenwood Park Mall, and at 2342 W. 86th St. The company is currently in the process of moving its headquarters to suburban Chicago.
Browning Investments had several other options for a grocer, but ultimately selected Fresh Thyme.
“It turned out that Fresh Thyme seemed to be the best fit for the neighborhood,” company partner Jamie Browning told the newspaper. “We’re very excited about having them as our partner.”
Photo credits: Browning Investments