Thompson Thrift Starts Construction of Final Phase of Indianapolis Mixed-Use
The community is part of a $750 million mixed-use project.
Thompson Thrift has broken ground on The Union at Fishers District, a 251-unit apartment community located in Fishers, Ind., a suburb of Indianapolis. The project is part of the final phase of construction for the Fishers District, a 123-acre, $750 million mixed-use development that began construction in 2015.
In addition to The Union, this final phase will bring 57,000 square feet of retail and dining space as well as 70,000 square feet of Class A office. Slated for completion in late 2026, the residential community will rest above the ground-floor retail.
The Union’s residences will be a mix of studio to three-bedroom homes, each fit with stainless steel appliances, full-size in-unit washers and dryers and walk-in closets. The property’s common-area amenities will include a pool, grilling areas, electric firepits, a 24-hour fitness center, bike storage and pet amenities including a dog park and a pet spa.
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Fishers is approximately 21 miles outside of Indianapolis and the city’s Regional Airport is some 12 miles away.
In 2024, the Indianapolis multifamily market had its most unit deliveries in eight years, according to Yardi Matrix. In 2024, the market saw 5,958 units completed, with approximately 4,800 units to come online in 2025. Average asking rents were also up on a three-month basis through February to $1,295, higher than the U.S. figure.
A decade in the making
Thompson Thrift has been building out The Fisher’s District over the last decade. This master planned community encapsulates multiple multifamily developments including Slate, The Crossing, The Yard and The Union.
In addition to The Union, the final phase of construction features a 135-room AC Hotel by Marriott, owned and operated by Dora Hospitality. When this hotel comes online, it will be the first AC Hotel by Marriott’s property within Indiana.
