INDIANAPOLIS — The developer that revamped the Stutz Building downtown is now getting ready to start a new project just across the street. It’s called “Stutz II.”
Originally, New York City-based company SomeraRoad proposed an entirely new five-story structure known as the Stutz South. Now, the 2.4-acre project will incorporate part of the existing three-story building at 217 W. 10th St. and two new five-story structures.
In total, the development would have about 275 apartments. The new buildings would be built on either side of the existing structure. Plus, Roanoke Street would be converted into a pedestrian plaza.
“We look forward to working closely with the city of Indianapolis and our fellow community stakeholders on this next phase of the redevelopment of the historic Stutz campus that will offer best-in-class residential in the heart of one of Indianapolis’ most exciting and historic neighborhoods,” said Brock Kenyon, vice president of SomeraRoad.
The plan still needs final approval next Wednesday from the Indianapolis Metropolitan Development Commission. If given the green light, a groundbreaking is expected later this year.
“Generally speaking, we are excited to see some momentum of projects in the area,” said Scarlett Andrews, deputy mayor of economic development.
The city also has a project of its own. This month, leaders launched the “St’Artup317 Retail Incubator” pilot program at the Stutz. The goal is to support local small businesses.
The first collaboration is with “We Don’t Run From Adversity.” The space is located in the Maker’s Alley off 11th Street.
The grand opening is on Saturday from noon to 9 pm. It will operate from August until the spring. After that, another business will take over.
Andrews said it’s just the start of what’s to come in this new downtown corridor with several projects underway, including more affordable housing.
“You will see more density of housing, more people taking transit in this area, and then, just creating a new kind of retail hub and corridor here at the Stutz,” Andrews said.
Recently, the city approved a new tax-increment financing district to help spur additional development and redevelopment opportunities.
“There are a lot of surface parking lots in the area, and we think those are great opportunities for new housing, new offices, new retail that supports the neighborhood," Andrews said.
It’s something new tenants at the Stutz are also looking forward to, saying they can’t wait to watch the neighborhood grow.
“I feel like once they fill up all the office spaces and all that, I think it’s going to be like a destination,” Gabriel Saundo said.
Saundo is one of the acclaimed chefs at the new Julieta Taco Shop, which opened less than three weeks ago.
“It’s been awesome. It’s been really good. People have been responding really well to us,” Saundo said.
If developers get the green light next Wednesday for Stutz II, a groundbreaking is expected later this year.