A rendering of FSX, which is able to encompass 10 townhomes on Prospect Avenue within the coronary heart of Fountain Sq.. (Rendering courtesy of Onyx+East)
Indianapolis-based residential developer Onyx+East plans to spend about $3.5 million to wipe a drive-thru financial institution station from the guts of Fountain Sq. and construct 10 townhouses as a substitute.
The mission, known as FSX—shortened from “Fountain Sq. Ten”—is deliberate for a virtually 0.3-acre, rectangular website at 1003 Prospect St., which presently homes two drive-thru ATMs for PNC Financial institution. Onyx+East has the land below contract for an undisclosed worth.
FSX will encompass two buildings, every containing 5 three-story city home models. The models are anticipated to come back in two sizes: Seven might be 1,881 sq. ft and three might be 1,730 sq. ft, based on filings with the town’s Division of Metropolitan Growth.
Every unit may have its personal connected two-car storage, two or three bedrooms and as much as three loos. They may all have their very own rooftop decks, as nicely. The models are anticipated to vary from $425,000 to $450,000.
The mission may also carry sidewalk patching alongside St. Patrick Avenue—the western fringe of the property—and Prospect Avenue, to restore curb cuts made for the ATM. Some new floor parking areas might be added instead of the curb-cuts.
Onyx+East obtained approval throughout the Nov. 17 Metropolitan Growth Fee assembly to rezone the land to the D-P, deliberate improvement, designation from a C-4 industrial designation. The MDC additionally permitted a variance to permit for an encroachment of clear-sight triangles on parts of the property and the creation of a subdivision plat.
The modifications are anticipated to be up for remaining approval from the Metropolis-County Council in December.
Onyx+East plans to interrupt floor on the mission—and start gross sales—by the tip of this yr, pending remaining approvals.
Rottman Collier Architects is the design agency on the mission.
Correction: Attributable to incorrect info provided to IBJ, the unique model of this story mentioned the price of the mission could be $12.5 million. It has been corrected as $3.5 million. You’ll be able to see all of our corrections right here.