Stutz owner retooling plans for 275-unit apartment project in Indy
Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
The New York City-based firm behind the revamp of The Stutz real estate complex north of downtown Indianapolis is modifying its plans for apartments on the property to incorporate part of an existing building.
Under initial plans revealed in January, Stutz majority owner SomeraRoad Inc. proposed building an entirely new five-story structure known as Stutz South. The project called for 270 apartments, along with office and retail space on the east half of the block between West Ninth and 10th streets, on the west side of Capitol Avenue.
But the plans now include an existing Stutz building on the south side of 10th Street. The change would result in the project occupying the north half of the same block with an east-west oriented development.
SomeraRoad declined to address why the shift was made.
Indianapolis-based construction firm Shiel Sexton Co. Inc. originally planned to move some of its operations in the redevelopment, but now plans to renovate and stay in its existing three-story headquarters at 902 N. Capitol Ave.
Shiel Sexton President Kevin Hunt said the firm ultimately found it more practical to renovate its own building and stay in one location.
The revamped 2.4-acre project, now known as Stutz II, is set to incorporate part of the three-story building at 217 W. 10th St., along with two new-construction five-story structures.
In all, the development would have about 275 apartments, split between studio, one-bedroom and two-bedroom units ranging from 500 square feet to 1,150 square feet. The new buildings would be built on either side of the existing structure, while Roanoke Street—currently a car-friendly alleyway—would be converted to a pedestrian plaza.
The existing structure was constructed in 1911 by Stutz Motor Car Co. predecessor Ideal Motor Parts Co., and was where the Bearcat sports car was first designed and manufactured. Ideal Motor Parts changed its name to Stutz in 2013.
The building was used from 1940 to 1982 as part of Eli Lilly and Co.’s paper packaging operations.
The first floor is currently home to embroidery company Colored Threads and general contractor Better Homes & Services . Talent agency Talent Fusion LLC has space on the second floor.
Only the taller portion of the building—totaling 22,725 square feet—would be retained for the project. The one-story, 40,000-square-foot industrial space that wraps around the west and southern portions of the taller structure is expected to be razed to make way for one of the new apartment buildings.
Following the renovation, the property would have two, first-floor retail spaces of 2,600 square feet and 3,000 square feet, along with a 415-square-foot lobby. The upper levels would be converted from office space to apartments consisting of six studio units and 10 one-bedrooms.
The western building would have 137 units, with 34 studios, 74 one-bedrooms and 62 two-bedrooms. It would also have a single 2,770-square-foot retail space at the southwest corner of 10th Street and North Senate Avenue.
A first-floor courtyard would also be built between that building and the existing structure, with openings to 10th Street and the new Roanoke Plaza.
The eastern building is expected to have 41 studios, 60 one-bedrooms and 21 two-bedrooms, along with an interior 358-space parking garage, accessible from Capitol, and a rooftop pool.
It would also have three ground-level retail spaces ranging from nearly 3,230 square feet to 3,716 square feet. All three spaces would be in the northern portion of the building, adjacent to the new plaza area or 10th Street.
“We look forward to working closely with the city of Indianapolis and our fellow community stakeholders on this next phase of redevelopment of the historic Stutz campus that will offer best-in-class residential in the heart of one of Indianapolis’ most exciting and historic neighborhoods,” Brock Kenyon, vice president of SomeraRoad, said in written comments.
IBJ first reported in late 2022 that SomeraRoad was in the predevelopment phase of planning hundreds of apartment units adjacent to The Stutz at 1060 N. Capitol Ave. The apartment project coincides with a separate $100 million first-phase redevelopment of other parts of the 112-year-old property.
Construction on the first phase of the Stutz includes 12,000 square feet of retail and dining space; 27,000 square feet of co-working space; 17,000 square feet of event space; and 15,000 square feet of fitness and lifestyle space, along with a full revamp of more than 80,000 square feet of office space. Restaurants Cafe Patachou and Taqueria de Julieta are both expected to open there this month.
SomeraRoad is scheduled to present its reconfigured plans for the apartment project on July 29 at a meeting of the Indianapolis Regional Center Hearing Examiner, which maintains development standards for downtown projects. If approved there, Stutz II would also require approval from the Indianapolis Metropolitan Development Commission.
A groundbreaking is expected on the project in the third quarter of 2024.
The architect for Stutz II is Minneapolis-based BKV Group.