An economic development agreement, approved by the Fishers Town Council on March 31, 2010, will allow Butler Automotive Group to build a $19 million auto mall which will accommodate up to 5 auto dealerships and be situated along the west side of State Road 37.
According to Butler, the final development, the completion of which is expected sometime around 2013, could bring with it around 230 new jobs. Construction of a new Butler Nissan dealership, which had already been approved by the town’s Advisory Plan Commission, should commence this spring.
Under the development agreement a tax-increment financing district that Fishers agreed to create will allow for the funding of various infrastructural improvements. Butler will receive approximately $2.8 million to redevelop a part of the property on which its current dealership already sits. An additional $4.14 million will be spent by Fishers to develop the surrounding area.
Various buildings and structures on the now defunct Davidson Lumberyard property will have to be demolished to make room for the planned dealership. The auto mall will span the area between 131st and 141st streets.
Located across from the planned development is the former Britton Park Golf Course on which developers had planned to put a new, 244-room Wyndham Hotel, a 16-acre water park water park, a retail complex and marketplace. However, recent financial problems on the part of the Indianapolis-based Puller Group have cast serious doubt as to whether the $80 million project will ever get off the ground.
Skjodt Thomas & Associates, the Indianapolis developer that owes the south half of this 104 acre property is subject to a foreclosure that was initiated in August of 2009 by Old National Bank.
Fifth Third Bank will attempt to foreclose on the other half of the property which is owned by the Puller Group.
The town of Fishers is located northeast of Indianapolis, Indiana.