INDIANAPOLIS (Inside INdiana Business) – Glendale Town Center on the north side of Indianapolis will see more changes soon. Indianapolis-based Kite Realty Group Trust (NYSE: KRG) has announced plans to refurbish part of the mall in addition to the $ 40 million apartment complex currently under construction.
Kite says more than 50,000 square feet of the former Macy’s store will be redesigned to accommodate Ross Dress for Less, Old Navy, Five Below, and other retailers. Macy’s closed its downtown Glendale location in 2019 and Kite says the Target, Lowe’s and Staples stores will remain in the mall.
Glendale city center redevelopment plans were first announced in September 2019. Work on an apartment complex with 267 residential units will continue in collaboration with Milhaus from Indianapolis.
“We are proud of the important role Glendale Town Center has played in Indianapolis’ s past,” said Tom McGowan, chief operating officer of Kite Realty Group, in a press release. “From its beginnings in 1958 as the city’s first traditional closed-air mall, to its conversion to an open-air mall in 2007, to the exciting transformation today, Glendale shows that great properties will continue to develop and add value to the surrounding community . ”
The refurbishment will also include new bike lanes to improve safety and accessibility, as well as a public art component and green spaces. Kite says the project is expected to be completed later this year.