PK Partners, Gene B. Glick Unveil $40M Apartment and Office Community in Indianapolis
- Mar 27, 2015
A new residential and office development will soon rise on the northern section of River Crossing Boulevard in Indianapolis.
Local developer PK Partners LLC recently celebrated the groundbreaking of the $40 million “River North at Keystone” project, which will bring a 100,000-square-foot office building and a 190-unit apartment and retail complex.
PK Partners is developing the mixed-use complex in a partnership with the Gene B. Glick Co., which will relocate its headquarters to the new office building upon completion in about 12 months. The facility will include underground, structured and surface parking with more than 480 spaces, which will also be available to apartment residents. The building entails an investment of $20 million.
Construction on the upcoming 190-unit luxury apartment complex is scheduled to begin later this year and should be complete within 16 months. There is another $20 million price tag for this component of the project, which will also feature first-floor retail space and additional parking.
“This development is crucial to attracting and retaining major employers here in Marion County,” Wes Podell, senior vice president of development with PK Partners, said in a news release. “River North will also give suburban Marion County a dynamic place to live, work and play that is competitive with the new town centers in nearby Hamilton County.”
PK Partners also plans to invest at least $500,000 in infrastructure to support the project, including public road and streetscape improvements to River Crossing Boulevard. Separately, the company intends to build a high-end hotel just west of the River North site.
Other partners involved in the construction of the River North at Keystone complex include CSO Architects, Cripe Engineering and Dillon Construction. CBRE Group is in charge of leasing.
Photo credits: rivernorthatkeystone.com