McCORDSVILLE — Developers are gauging officials’ thoughts on ideas for up to four speculative, move-in ready buildings on the town’s south side.
One of the sites is east of North Short Road and south of West County Road 600N, across from the Woodhaven neighborhood. The other, where up to three buildings are envisioned, is farther south — north of County Road 500N and east of Mt. Comfort Road.
Representatives of the development firms gave informal presentations to the McCordsville Town Council earlier this week.
Indianapolis-based Formation Properties is behind the idea at 600N and Short Road, where it’s considering a 386,000-square foot building for e-commerce logistical space. The site is just west of one where another developer wants to bring a 1 million-square foot building. It’s also just north of where Southwark Metal Manufacturing Co. is moving its Indianapolis operation.
Briane House, a partner with Greenfield-based law firm Pritzke & Davis representing Formation Properties, said the project is estimated at about $30 million.
Town council members expressed concerns about the project putting more traffic, particularly truck traffic, on 600N near Woodhaven. Tom Strayer, a council member, recalled how that was a significant part of discussions over Southwark Metal Manufacturing’s project last year, which resulted in plans for a new road to the south of that site to divert truck traffic — Aurora Way.
House said while he understands council members’ concerns, development and demand for more in the area is very high.
"In large measure, development’s already here, and so the task at hand is how to effectively deal with that development, and do so in such a way that it is helpful to the community," House said.
House and officials noted the site has been zoned industrial since before it was annexed into town, and before Woodhaven was developed.
But that doesn’t mean leaders have to support a project just because its proposed use matches the zoning, countered council member Greg Brewer. He called driving down Mt. Comfort Road "depressing" and said he thinks the town can do better than large warehousing, logistical and e-commerce buildings.
"I feel like I’m Luke Skywalker flying through the Death Star with the concrete on both sides of me," he said.
House said Formation Properties would be interested in seeking a tax break, but Strayer and council president Barry Wood said they’d have trouble considering one before knowing who and what would be operating in the building.
"It sure would be nice to have a better feel for what we’re looking at as far as who the tenant is going to be, and if it’s going to be a long-term tenant," Wood said.
Wes Podell, a partner with Formation Properties, said the firm wants to be a good partner with the town and that officials provided beneficial feedback for him and his colleagues to consider.
"What we’re hearing tonight is the town maybe doesn’t want speculative industrial development, and for us, that’s something we have to digest and we have to understand our alternatives," Podell said. "But we’re not here to jam this thing through. We want to work on a solution that’s safe and practical."
HSA Commercial
Officials were more receptive toward a presentation from Chicago-based HSA Commercial, which is considering up to three buildings north of West County Road 500N and east of Mt. Comfort Road. The site is north of where Walmart is building its 2.2 million-square foot fulfillment center just outside of town.
The developer’s first building in the project would be about 350,000 square feet. Doug Jones of HSA Commercial said ideally the building would be split among four tenants in need of office space and warehousing space for storing products. If the project moves forward, he said, work may not start until spring 2022.
How quickly the first building gets leased would determine when a second building would follow and then, possibly a third, he said.
"We’re excited about the opportunity, but clearly there’s some reservations in the community about industrial development," said Jones, who was present for pitches from Formation Properties and the equally contentious 1 million-square foot proposal nearby. "We hope that this is farther south. All of our truck traffic will come in and off 500N, which would avoid any more congestion on 600N."
Council members noted there are fewer houses in the area HSA Commercial is considering.
"I’m not a big fan of spec buildings, but this is more in line with where I would be envisioning these kinds of projects," Brewer said.
Wood agreed.
"It’s reasonably placed," he said. "It’s a better location for that."
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"I feel like I’m Luke Skywalker flying through the Death Star with the concrete on both sides of me."
Greg Brewer
McCordsville Town Council
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