The Greenwood city leaders have broken ground on a $83m project at the former Greenwood Middle School site in Greenwood, Indiana, US.
This marks the official start of construction for The Madison, a new multi-use development, on the 19-acre property.
Greenwood mayor Mark Myers said: “Today we take a major step forward in building the Greenwood of tomorrow. It is important that we have a revitalized, vibrant and connected core that brings people and businesses together.
“We compete every day to attract employers, employees and families to Greenwood. Our reimagined downtown will not only help us compete, but it will help us attract more business and residents.”
The city is investing $15m for improvements in street and site along with the creation of more than 300 space parking garage as part of the total investment.
The remaining $68m in private investment will be utilised for the construction of residential units with a mix of condominiums, town homes and apartments, as well as 18,000ft2 of commercial space across seven new buildings on the site.
This redevelopment project will also include construction of the Greenwood Fieldhouse, which will feature an elevated indoor running and walking track, basketball or volleyball courts, two multi-purpose turf fields, along with many other indoor pickleball courts.
This fieldhouse is expected to open in 2022.
Additionally, work on the project also includes completion of the Madison Avenue and Smith Valley Road roundabout, alley improvements, streetscape updates on N. Madison Avenue and Main Street, and Amphitheater Park upgrades.
Great Lakes Capital managing director and principal Clay Scheetz said: “The Madison will add a new element to the downtown landscape and create a community within a community, a place where residents and visitors will be able live, work, play and enjoy for years to come.”
Illustrattion of the new multi-use development in in Greenwood, Indiana. Credit: City of Greenwood.