The Kroger in Broad Ripple at 6220 Guilford Ave. opened in 1954. (Picture courtesy of Google)
A pair of Indianapolis-based companies plan to redevelop the previous Kroger grocery retailer in Broad Ripple with hopes of including new retail and residential choices to the neighborhood.
Gershman Companions and Citimark plan to raze the 12,250-square-foot grocery constructing to make manner for a brand new mixed-use venture, though full plans for the event are nonetheless within the works.
The companies purchased the grocery retailer at 6220 Guilford Ave. for $3.1 million earlier this 12 months by means of holdings firm GP-CM Broad Ripple Builders LLC.
Eric Gershman, principal of Gershman Companions, mentioned the teams are “nonetheless finalizing our plans” for the 1.6-acre parcel, with an expectation they’ll be capable to share their concepts with the Broad Ripple Village Affiliation’s land use committee and metropolis officers within the first quarter of 2022.
“We don’t but have any plans to point out or share,” he mentioned. “We’re nonetheless vetting these out and ending up the design earlier than we current them or go public. There’ll be housing and retail, however the closing make-up—that’s nonetheless being decided.”
Kroger closed the Broad Ripple retailer in November 2020, citing a scarcity of profitability for the shop, which had been open for about 66 years.
Gershman Companions has its palms in a number of properties within the Broad Ripple neighborhood, together with the previous Books & Brews property and a brand new $20 million timber-based office structure it hopes to start setting up in 2022. It’s entertaining leases for every of the properties.
Eric Gershman mentioned his agency and Citimark are bullish on the world, significantly as extra developments proceed sprouting up.
“There’s been a rise in demand and curiosity in making an attempt to densify and clear up some underutilized properties in Broad Ripple,” he mentioned.
The event group is eyeing both January or February to current its plans to the village’s land use committee, which usually has affect over metropolis approvals for zoning and variance requests.
Town’s Division of Metropolitan Growth has not but acquired any filings on the venture.