The informational meeting regarding potential new development of Irvington Plaza on Sept.18 was very well attended. Organized by the Irvington Development Organization (IDO) and the Historic Irvington Community Council (HICC), Terry Tallen spoke to the crowd about plans that the Tallen Capital Partners LLC has in mind for the distressed plaza. Questions from the community, submitted in advance, were also addressed.
The 15 acre site just east of Arlington on East Washington was built in the 1950s and has been in decline since the 1980s. Only a few businesses remain open on the property.
Tallen stated that the meeting was part of the company’s desire to do “due diligence” and was in the process of buying the property, which will likely be completed in 2024. He also noted that they were in the process of platting and zoning with the city, including a hearing on Oct. 11 regarding the property. Currently, the plan calls for the property to be platted into six or seven different parcels that could be developed for retail or restaurant clients. He said they were looking at potential tenants that could include grocery stores. He also noted that he spoke with the Dairy Queen owners who are currently on the property, who are very interested in building their store closer to Washington St.
Tallen also mentioned that the IndyGo Blue Line, slated to be completed in 2027 on East Washington St., was a potential draw that could drive development considerations, and would be speaking with IndyGo officials about making the planned stop larger.
Tallen was asked about the recommendations made in 2019 by the Urban Land Institute which recommended substantial residential and mixed use development for the property. He said that, while he had the highest respect for the ULI, it was not a financially feasible project.
The community will be invited to drop suggestions through a Survey Monkey survey that will be posted online on Facebook soon. The entire meeting was filmed for the HICC and is available on their Facebook page.
