INDIANAPOLIS (WISH) — There is new interest a nearly deserted eastside shopping plaza. A developer has big plans for the Irvington Plaza on East Washington Street.
The parking lot at Irvington Plaza has not been full for years, but a developer believes the property is ripe for a turnaround.
Traffic on East Washington Street zooms right past the faded and rusting Irvington Plaza sign. The parking lot is dominated by weeds and store fronts are empty. The Marsh grocery store closed in 2017, but you can still make out the name in the faded paint.
Developers with Tallen Capital Partners LLC are making a bid to buy the property. Terrence Tallen, the CEO and founder of the company, is working with the city of Indianapolis to finalize the design.
“The city has got a neat plan for it. they would like to see the buildings pulled up right on the street with parking behind, so it has more of an urban feel,” said Tallen
The stage has been set to redevelop this area for some time. In 2019, two years after Marsh closed their doors in Irvington, the Indianapolis City County Council created an economic development zone around the plaza, which provides for government grants and tax incentives. The city has improved the Pennsy Trail to the south of the property, and the expansion of the IndyGo Blue Line will have a stop right in front of the plaza.
“If you look the demographic of who’s going into that shopping center now versus the demographic of the person that is on the Pennsy Trail, it is a wide distance even though they are a few feet apart. You’ve seen young women and young families out there with strollers and jogging with their children, and you would see that in the shopping center,” said Tallen
Of the existing tenants, only a few have made it clear they intend to stay. The Dairy Queen, which is a neighborhood staple, is staying, but moving to a new building on East Washington Street. The Oak Street Health Irvington Primary Care Clinic is staying, along with Elmer’s Barber and Style Shop.
The Historic Irvington Community Council asked the developer to bring in a new grocery store.
“We have talked to some. Others have turned us down. We are not in a position to make any announcements yet, but the fundamentals of it are that there is a solid population with decent incomes, and they need a modern grocery,” said Tallen.
The city is holding a public hearing for the property in the coming weeks.
