Bottleworks District Project Lands $59M Construction Loan
- Jan 23, 2020
Merchants Capital has arranged a $59 million loan for Bottleworks District, a mixed-use development in Indianapolis. The construction loan for the project—slated to open this year in September—was secured on behalf of Hendricks Commercial Properties, which acquired the 12-acre site of the Coca-Cola bottling plant in 2017 for $260 million.
Located at 850 Massachusetts Ave., the project will include a 150-key boutique hotel with a rooftop bar, an eight-screen cinema, 180,000 square feet of office space, 175,000 square feet of prime retail space, 240 condos and apartment units. The retail space will offer suites from 1,000 to 22,000 square feet and will include a mix of restaurants, soft goods, entertainment, service, fitness and specialty retailers.
A 500-seat food hall dubbed The Garage, will be a roughly 30,000-square-foot community-focused food and market hall located in the heart of the development. It consists of two authentic garage buildings and will include vendors ranging from 100 to 1,000 square feet.