Driving down north Keystone Avenue, it’s hard to miss the towering lattice booms of the cranes that operate daily as construction progresses on what is expected to be a beautiful $30 million mixed-use development called Ironworks at Keystone.
It started in April, as Mayor Greg Ballard, together with executives from Hendricks Commercial Properties and representatives from the Nora community gathered for a groundbreaking ceremony on the 6.4-acre lot, which was previously the site of the failed Woodfield Commons shopping center.
“This is a great day for Hendricks Commercial Properties,” Hendricks president Rob Gerbitz said. “We are excited to build our first development in Indianapolis, and we’ve assembled a team of exceptional local companies to ensure this project is a success.”
Construction of the mammoth facility is well underway and progressing nicely. Hardhat crews move with a purpose, and heavy equipment is everywhere.
One beneficial byproduct of the construction is its simulative effect on the local economy. Aside from the construction jobs it provides, the brick, steel and concrete used to make it are sourced locally, right here in Indianapolis.
What to Expect
When complete, the 5-story Ironworks at Keystone facility will offer 40,000 square feet of mixed use space for restaurants, retail shops and 120 residential apartments.
Restaurants. We spoke with Hendricks Commercial Properties Vice President (North East Region), Lester H. Birbaum, who said, “We are planning on four restaurants, one on the Haverstick end cap with the large outdoor patio at canopy framework, another near the residential end, plus one smaller restaurant somewhere. We have lots of tenant interest in this category and are trying to pick those users who bring something unique and interesting to the area and project.” Count Ruth’s Chris Steakhouse among them. The national restaurant chain recently agreed to become a tenant on the first floor.
Retail. There are expected to 8 to 10 retailers once the project is fully leased. Residents will be able to walk downstairs to spas and salons, boutique clothing shops and other establishments.
Apartments. As of this week Ironworks at Keystone has begun taking applications and reservations for specific residential units. Inquiries should be directed to the Ironworks Indy website (www.ironworksindy.com).
Each of the anticipated 120 apartments will come with an open-concept floor plan, complete with contemporary décor, wood flooring, ultra-high speed Internet, in-home washer and dryer, walk-in closets and private bathroom for every bedroom, stainless steel appliances, granite countertops, energy star rated windows and appliances, low-flow fixtures and private balconies with awesome urban views.
Expect the residential units to lease from $850/month for a studio to over $1800/month for the larger two bedroom + units.
Parking. One of the less glamorous, yet very important, features of the building is its parking. A secure, underground parking garage will accommodate as many as 155 cars. “We see it as a mandatory amenity for a high-end living experience,” says project leader Les Birbaum. Off-street parking will be available as well.
Community Amenities. All access to the building is via secure, electronic means. A 24-hour fitness center with club-quality equipment and even a yoga studio will be available to all tenants. Other cool amenities include an internet café with private workstations, a conference space, a club house with media room, a self-serve coffee bar, and shops, restaurants and cafés all located at street level. modern club house
Why Brick, Steel and Concrete?
One key aspect of this project is the fact that it will be made of brick, steel and concrete. This combination of materials offers several key advantages.
Because they are naturally fire-resistant, there is an inherent safety advantage over lesser materials. Not only that, these materials are far more durable in the long run since they afford protection against natural forces such as sun, weather and pests.
And because brick is a natural thermal heat sink, absorbing sunlight in the winter and providing an insulative barrier in the summer, there is a built-in energy efficiency advantage which translates into lower utility bills.
Finally, brick and concrete provide excellent sound insulation, not only from outside noises such as traffic and barking dogs, but from floor to floor as well.
Adding to the Keystone Culture
Ironworks at Keystone will add to the social fabric by creating a new community of dwellers in what is already the most prestigious area on the city’s north side. With its distinctive architecture and convenient location, adjacent to the Keystone at the Crossing Office Park and Fashion Mall, it will no doubt be a welcomed addition to the area.