the PDF press release

For Immediate Release
Contact: Rachel Ferguson
VP Marketing
Teagen Development, Inc.
[email protected]
317.941.3002
Local Developer Announces Major Changes for the Circle City Industrial Complex
Teagen Development has announced significant redevelopment plans for the Circle City Industrial Complex
th
(CCIC), located at the intersection of 10 Street and Massachusetts Avenue on the city’s Near Eastside.
Teagen is in the process of acquiring the 539,000 square foot property, which currently houses a combination of
artists, small businesses, and industrial users. The complex has faced stability issues in previous years, due in
part to the 120,000 square feet of vacant and unusable space in the building’s southern end.
“Our plan is to redevelop that southern end into viable real estate once again.” says Teagen president, Larry
Jones. “We will turn the unused infrastructure into a place where small businesses, retailers, and restaurants can
thrive.”
Due to begin construction this spring,
redevelopment plans include the creation
of new light manufacturing, retail and
th
restaurant space. The building’s 10
Street façade will receive a major facelift,
including the addition of storefronts and a
large patio area. The existing second
floor will be transformed into prime office
space with views of the downtown
skyline. Additionally, a portion of the
building will be demolished to create an
access drive between Brookside Avenue
and Massachusetts Avenue, additional
parking, and new retail store frontage.
City initiatives also afford the CCIC
unique opportunities. A planned walking
and biking path, the Pogue’s Run Trail,
will bring foot traffic from the Monon Trail
and Mass Ave to the CCIC’s doorstep.
Redevelopment plans include an internal
trail spur that will allow walkers and
bikers to pass through the building to
engage with the activities there.
The redeveloped area’s anchor tenant
will be a new 30,000 square foot maker
space, Ruckus, founded by Riley Area
Development Corporation in partnership
with People for Urban Progress and
Pattern, a fashion community advocate.
Ruckus will provide small manufacturers
th
Before and After: A view of the redeveloped 10 Street façade. View
additional photos and renderings at www.teagen.com/press
and entrepreneurs access to high-end wood shop, metal shop, CNC, and photography equipment on a
membership basis. The space will also feature a co-working and event area.
“The goal of the maker space is to lower the barriers of entry for inventors, designers, craftsmen, and engineers to
bring their creation to market,” says Riley’s executive director, Eric Strickland. “Ruckus is part of a national Maker
Movement that is boosting small businesses and accelerating innovation in product development and small scale
manufacturing.”
Pattern director Polina Osherov anticipates increased opportunities for Central Indiana’s fashion community with
the opening of the new maker space. “Once Ruckus is up and running, the goal is to incubate small fashion
makers and eventually attract a larger fabrication shop known as a “cut-and-sew facility” to the building,” she
says. “I don’t have any idea how big it will be, but the Makerspace will really build traffic and demand for a facility
that can stay open year round, be busy, and be profitable.”
The Circle City Industrial Complex establishes the gateway to the Mass Ave/Brookside Industrial Corridor, 480 +/acres of urban industrial development northeast of downtown. With the decline of manufacturing in recent
decades, many of the buildings in this area have been plagued by vacancy, underutilization and deteriorating
infrastructure. The corridor was the focus of a 2014 Urban Land Institute (ULI) Daniel Rose Center panel study in
cooperation with the City of Indianapolis, resulting in recommendations for comprehensive redevelopment
strategies. The panel also helped shape redevelopment plans for the CCIC.
View the entire redevelopment plan online at www.teagen.com/press
About Teagen Development
Teagen Development specializes in innovative urban redevelopment projects in Downtown Indianapolis.
Since its inception in 1990, Teagen Development has focused on the restoration and revitalization of downtown
neighborhoods through creative re-use. By keeping a pulse on efforts by individuals, neighborhood groups, and
the City of Indianapolis, Teagen has been at the forefront of development in some of the city’s most vibrant areas:
Massachusetts Avenue, Chatham Arch, Fountain Square, and most recently, the Mass Ave/Brookside Industrial
Corridor.
More information at www.teagen.com
About Riley Area Development Corporation
Riley Area Development Corporation is a non-profit community development corporation that has used
urban affordable housing to create street level retail spaces in and near downtown Indianapolis. In 2015,
Riley has been selected by the City and LISC to lead economic redevelopment initiatives along Massachusetts
Avenue Industrial Corridor. The goal is increase small makers, fabricators, manufactures and business to
business organizations along the corridor.
More information at www.rileyarea.org