$260M Bottleworks District Takes Step Forward

$260M Bottleworks District Takes Step Forward

Hendricks Commercial Properties (HCP), a 43-year-old Wisconsin-based development firm that owns more than 9 million square feet of real estate in 30 states, closed on the Coca-Cola bottling plant site located at 850 Massachusetts Avenue in Indianapolis. The 12-acre site will be home to the $260 million mixed-use Bottleworks District development.

Formerly owned by Indianapolis Public Schools, the Coca-Cola bottling plant will soon be transformed into a development that will feature a 150-room boutique West Elm hotel, a nine-screen cinema, 180,000 square feet of office space, 200,000 square feet of retail space, and a combination of apartments and condominiums. The project will occur over 7 to 10 years in five phases, starting with the restoration and redevelopment of the historic Coca-Cola administration building and garages.

“We are thankful for the support from the community, city officials and real estate community. We look forward to transforming an important piece of Indianapolis’ history into a destination that completes the thriving Massachusetts Avenue corridor,” said Rob Gerbitz, president and CEO of HCP. “We are committed to the continued revitalization of Mass Ave. and we look forward to bringing a new energy to the area while paying homage to the important role this site has played in the city since 1931.”

HCP will begin phase one of Bottleworks in the spring of 2018, with plans to open the West Elm Hotel, food hall, multi-screen cinema and more than 70,000 square feet of retail by the end of 2019. The food hall will feature a community-focused marketplace, which will house independently owned Indianapolis businesses. Key design and architectural services will be provided by Eppstein Uhen Architects and Indianapolis-based Ratio Architects.

“It took great team effort to reach this milestone, and it will take a great deal of continued team effort to ultimately reach the finish line of completing this development. But given the strong interest levels we are receiving across the retail, office, and residential sectors, we are confident we will reach that finish line and we are excited to be doing it in Indianapolis,” said Isaac Bamgbose, vice president for HCP.

Hendricks Commercial Properties is also in the final stages of completing the Ironworks Hotel Indy, a 120-room boutique hotel complete with new restaurant concepts and retailers from the likes of local/prolific restaurateur Mike Cunningham, Massage Heights, Blue Sushi and Crushed Red. With more than $370 million worth of recent and planned real estate investment in Indianapolis alone, HCP has been active in making Indiana its home.