December 10, 2018

Teagen Development, owner of the sprawling Circle City Industrial Complex (CCIC) at the corner of 10th Street and Mass Ave, has secured a $4 million loan to complete redevelopment on its vacant southern end.

The loan, provided by Local Initiatives Support Corp. (LISC), will allow for a complete overhaul of approximately 85,000 square feet that will house restaurant, retail, and office users. Preliminary construction has already begun and Teagen plans to begin moving tenants into the space in fall of 2019.

For leasing information, please contact leasing@circlecityind.com

Hoosier Security, longtime CCIC tenant has staged a massive expansion in the past year, most recently moving into their new-and-improved headquarters bordering the CCIC's new parking lot. The new space includes a design lab, build room, conference area, and office space for their rapidly expanding employee base. Read more about the expansion here

Visit Centerpoint Brewing at the CCIC! Fill your growlers, grab your pints! HOURS Wed - Thurs: 4pm - 8pm Fri - Sun: 12pm - 8pm   Inside INdiana Business

Reposted from The Urban Land Institute “Small is beautiful,” that glib 1970s catchphrase, today could be applied to the “maker movement” that is helping transform dilapidated urban industrial zones throughout North America. From Detroit-based Shinola to craft breweries, artisanal food producers, and bespoke jewelry crafters nearly everywhere, modern small-scale manufacturing is breathing new life into long-abandoned warehouses and factories. In a 2015 ULI Fall Meeting session moderator Ilana Preuss of Recast City remarked that it’s “cool to make stuff again.” Small-scale manufacturers are creating jobs with minimal educational requirements and wages that are double those in the service and retail sectors. “They are bringing life to the streets, tapping local power, helping economic resilience, and increasing the value of surrounding properties,” she noted. The new maker movement is having a significant impact in postindustrial Midwest cities like Indianapolis, which has lost some 18,000 auto manufacturing jobs and caused some 8,000 families to abandon their homes. Indiana University’s Adam Thies, who worked until recently as the city’s director of metropolitan development, described the ongoing redevelopment of the Circle City Industrial Complex (CCIC). This 500,000-square-foot (46,500 sq m) structure was built during the 1920s to house the Schwitzer Corporation, an auto parts manufacturer. After the plant closed in the 1960s, parts of it were repurposed to accommodate nonindustrial uses. Click here to read the full article

500 Feet. 500 feet is a two-minute walk. At an average pace, 500 feet doesn’t burn the calories contained in a single stick of gum; and yet, when Teagen Development purchased the Circle City Industrial Complex, we knew that tiny distance might prove to be a big obstacle. Why? Because 500 feet is the approximate distance between the Circle City Industrial Complex and the confluence of the Cultural Trail and the Monon Trail. From the beginning of our work on this project, we asked ourselves: how do we encourage walkers and bikers to trek that extra .01 mile off the beaten path to visit the CCIC? Our answer came earlier this year in the form of the Pogue’s Run Trail- a walking and biking path designed to connect downtown to some of the great parks and attractions the Near Eastside has to offer, such as IndyParks, Spades Park, Brookside Park, and, of course, the CCIC. Though these attractions were technically walkable and bikeable previously, we have seen time and again (for example, in places like Mass Ave and Fountain Square) that creating a designated pedestrian trail encourages new visitors and promotes vibrant communities where businesses can thrive. While the new trail doesn’t guarantee the success of the CCIC’s pending redevelopment plans, it does make our job of enticing new visitors to make that 500-foot journey much, much easier. Phase 1 of the Pogues Run project is scheduled to begin this week and traffic pylons are already out on Brookside to make way for workers. Construction will extend from 10^th and Massachusetts Avenue to 10^th and Brookside, then northeast on Brookside Avenue to the Commerce Street bridge over Pogues Run. Work should be completed by September 1^st.

Here are a few things you should know about the construction:

• Traffic on Brookside Avenue will be restricted to a single lane (closest to the CCIC) during the work. Because this lane is directly adjacent to the CCIC sidewalk, please watch your speed if you are driving and watch for cars if you are walking.
• The CCIC parking lot will be open as usual. Be aware of workers and construction vehicles when pulling in and out.
• There will be NO PARKING OR STOPPING in the one remaining travel lane. Violators will be towed immediately.
• The trail team is conscious of the fact that the CCIC is a commercial building with functioning truck docks. Trucks will still have access to the docks along Brookside during construction. Please contact us if you have any concerns about truck access.

We’re excited about this project and the great benefits it will bring to the CCIC and Near Eastside. Stay tuned for additional updates!

Momentum grows for Ruckus, the Maker Space coming later this year to the Circle City Industrial Complex. Read the full Urban Times article

Project will bridge Near Eastside, Downtown Erica Smith, Indy Star. 2/25/15 Making a newer, smaller manufacturing economy Erica Smith, Indy Star. 2/28/15 Maker-space movement touches down in Indy Emily Taylor, IBJ. 3/14/15

Teagen Development has announced significant redevelopment plans for the Circle City Industrial Complex (CCIC), located at the intersection of 10th Street and Massachusetts Avenue on the city’s Near Eastside. Teagen is in the process of acquiring the 539,000 square foot property, which currently houses a combination of artists, small businesses, and industrial users. The complex has faced stability issues in previous years, due in part to the 120,000 square feet of vacant and unusable space in the building’s southern end. “Our plan is to redevelop that southern end into viable real estate once again.” says Teagen president, Larry Jones. “We will turn the unused infrastructure into a place where small businesses, retailers, and restaurants can thrive.” Due to begin construction this spring, redevelopment plans include the creation of new light manufacturing, retail and restaurant space. The building’s 10th Street façade will receive a major facelift, including the addition of storefronts and a large patio area. The existing second floor will be transformed into prime office space with views of the downtown skyline. Additionally, a portion of the building will be demolished to create an access drive between Brookside Avenue and Massachusetts Avenue, additional parking, and new retail store frontage.   City initiatives also afford the CCIC unique opportunities. A planned walking and biking path, the Pogue’s Run Trail, will bring foot traffic from the Monon Trail and Mass Ave to the CCIC’s doorstep. Redevelopment plans include an internal trail spur that will allow walkers and bikers to pass through the building to engage with the activities there. The redeveloped area’s anchor tenant will be a new 30,000 square foot maker space, Ruckus, founded by Riley Area Development Corporation in partnership with People for Urban Progress and Pattern, a fashion community advocate. Ruckus will provide small manufacturers and entrepreneurs access to high-end wood shop, metal shop, CNC, and photography equipment on a membership basis. The space will also feature a co-working and event area. “The goal of the maker space is to lower the barriers of entry for inventors, designers, craftsmen, and engineers to bring their creation to market,” says Riley’s executive director, Eric Strickland. “Ruckus is part of a national Maker Movement that is boosting small businesses and accelerating innovation in product development and small scale manufacturing.” Pattern director Polina Osherov anticipates increased opportunities for Central Indiana’s fashion community with the opening of the new maker space. “Once Ruckus is up and running, the goal is to incubate small fashion makers and eventually attract a larger fabrication shop known as a “cut-and-sew facility” to the building,” she says. “I don’t have any idea how big it will be, but the Makerspace will really build traffic and demand for a facility that can stay open year round, be busy, and be profitable.” The Circle City Industrial Complex establishes the gateway to the Mass Ave/Brookside Industrial Corridor, 480 +/- acres of urban industrial development northeast of downtown. With the decline of manufacturing in recent decades, many of the buildings in this area have been plagued by vacancy, underutilization and deteriorating infrastructure. The corridor was the focus of a 2014 Urban Land Institute (ULI) Daniel Rose Center panel study in cooperation with the City of Indianapolis, resulting in recommendations for comprehensive redevelopment strategies. The panel also helped shape redevelopment plans for the CCIC. View the entire redevelopment plan online at www.teagen.com/press About Teagen Development Teagen Development specializes in innovative urban redevelopment projects in Downtown Indianapolis. Since its inception in 1990, Teagen Development has focused on the restoration and revitalization of downtown neighborhoods through creative re-use. By keeping a pulse on efforts by individuals, neighborhood groups, and the City of Indianapolis, Teagen has been at the forefront of development in some of the city’s most vibrant areas: Massachusetts Avenue, Chatham Arch, Fountain Square, and most recently, the Mass Ave/Brookside Industrial Corridor. More information at www.teagen.com