McCord Square Downtown District Breaks Ground in McCordsville
MCCORDSVILLE, IN. – Indiana Secretary of Commerce Brad Chambers and Town of McCordsville Officials joined Rebar Development and project partners today to break ground on the first phase of McCord Square, a $50 million town center district. Anchoring the development, McCord Square Apartments is the first project to begin construction. The new master development includes a significant quality of place investment with $3.5 million allocated from the Indiana Regional Economic Acceleration and Development Initiative (READI).
“Indiana’s transformational READI initiative is breathing new life into neighborhoods, communities and urban cores across the state,” said Sec. Brad Chambers. “It’s an exciting day for McCordsville and for the Central Indiana region as we break ground on a landmark development that will help transform this growing community into a future-focused destination that will attract and support the entrepreneurs, innovators and talent of tomorrow’s economy.”
Located on the southeast corner of Broadway Avenue (S.R. 67) and Mt. Comfort Road, the 48-acre McCord Square Downtown District, is a partnership between the Town of McCordsville, Rebar Development, and Hancock County based, Pride Investment Partners. McCord Square accomplishes many goals set forth in the Town Center Development plan, including the creation of a defined, vibrant downtown with a unique identity. McCord Square will diversify the tax base and is expected to add $50 million in assessed value by 2025.
“This groundbreaking is the next big step in creating a new identity for McCordsville. Town leadership and staff have spent over a decade planning for this development and today represents the culmination of so many moving parts coming together to create a new direction for our community,” said Larry Longman, Town of McCordsville Town Councilmember and Redevelopment Commission liaison. “With the addition of the READI grant we are able to add many more amenities and details to this first phase to make this project unique.”
The first phase of the master development includes McCord Square Apartments and significant infrastructure investment. The apartment community consists of two buildings on each side of the new Civic Green with a total of 205 modern apartment homes. The Town of McCordsville is investing $5 million to create roadways and trails with lighting, landscaping, and water features, 15 acres of open park space, and irrigation and stormwater facilities. With the $3.5 million allocation from the READI initiative, the total public investment is $8.5 million.
“Our team was inspired by the vision the Town had for McCord Square,” said Shelby Bowen, President of Rebar Development. “This important first step just wouldn’t have been possible without our partnership with the Town and IEDC. We are looking forward to bringing a world-class development to serve the rapidly growing workforce in this corridor.”
With construction of McCord Square Apartments now underway, downtown living is coming to McCordsville. Consisting of two buildings, The Lucas and The Jackson, Rebar Development is bringing resort-style living to the new town center. The one- and two-bedroom apartments feature spacious floor plans, modern kitchens with luxury furnishings, washer and dryers, and large balconies with expansive views. The community amenities are designed to inspire, and includes a courtyard, indoor/outdoor café, pool with cabanas and workstations, rooftop co-working lounge, pet park and spa, wellness studio, indoor bike storage, and modern clubhouse.
The first floor of the McCord Square Apartment community will consist of six 1,000 sq. ft. commercial studios with street-facing entrances. The micro-retail spaces are all-inclusive—sharing amenities with the apartment community—and will have flexible lease terms.
“We are proud to be a partner on this historic development which will serve the citizens and visitors of the Town of McCordsville for years to come. It is integral to our organization’s culture that we invest in and partner on projects such as McCord Square, with Town leadership which prioritizes its citizens and their utmost quality of life through significant attention and development of the community within which they reside. We are honored to be a part of this community and this very special day,” said Stephanie and Keith White, owners of Pride Investment Partners.
Plans for future investment in the new downtown district align closely with the Town Center Development Plan including the creation of a community gathering space and new McCordsville Town Hall. Planned projects, such as the Civic Commons outdoor amphitheater, connectivity throughout downtown and to existing neighborhoods, and a new park will create a destination for residents and visitors to live and gather. In addition, McCord Square will eventually add townhomes, restaurants, office space, and neighborhood services.
Construction on the McCord Square Apartments is slated for completion spring of 2024. To learn more about McCord Square Apartments, please visit www.mccordsquareapartments.com.