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The Indiana Economic Development Corp. announced Tuesday that Zionsville has received $4 million in state-funded regional grant money to support infrastructure projects south of the town’s historic Village area.
The funding sourced through the second round of the state’s Regional Economic Acceleration and Development Initiative, or READI, will go toward building two roundabouts, constructing a pedestrian path along the north side of Sycamore Street from First Street to Lions Park and making pedestrian safety improvements around the South Village area.
A section of Main Street will be removed south of Sycamore Street, while First Street will be extended south. A dog-bone-style roundabout will connect Main Street and First Street. Another roundabout would be built to the north, at Sycamore Street and First Street.
The South Village extends south of the town’s main business district to Old 106th Street and between Eagle Creek to the west and Creekside Corporate Park to the east.
“Our traffic grid was designed more than 150 years ago to accommodate railroad traffic in and around Zionsville, before automobiles were even invented,” Mayor John Stehr said in written remarks. “This funding will not only upgrade and modernize our traffic pattern, but will also set the stage for meaningful, responsible growth in our South Village area.”
In March, Stehr unveiled a 160-acre masterplan for the South Village that would set development standards through a planned unit development. However, in August, members of the Zionsville Town Council voted 7-0 to reject an ordinance for the South Village Planned Unit Development, days after Stehr said he wanted to withdraw the plan from consideration because he did not believe there was enough consensus among council members.
Stehr said this summer that 70% of the property in the proposed South Village PUD area is owned by private landowners who want to develop their properties. For now, people who want to develop property in the South Village will approach the town with their plans and go through the approval process individually.
The town is also moving forward with some projects within the area.
Redevelopment Commission Director Corrie Sharp told members of the Zionsville Redevelopment Commission last month that the town has received five responses to a request for proposals for a public plaza just south of the entrance to the Village, near the intersection of Main and Sycamore streets.
The town owns the block northwest of Main and Sycamore streets that housed a former PNC Bank and a Zionsville Lock & Safe store before the town demolished the two buildings in 2020. The town previously received $1.9 million in READI 1.0 funding to support construction of the plaza, as well as design and engineering of planned infrastructure improvements.
Future development in the South Village area could also include office space, green space, trails, connections to the Big 4 rail trail, public restrooms, parking, restaurants, shops and housing. The town is currently working to install public restrooms within the Village.
In April, the Central Indiana Regional Development Authority, or CIRDA, was awarded $45 million in READI 2.0 funding.
Central Indiana was one of 15 regions across the state to receive part of a $500 million allocation. While each of the state’s 15 regional development authorities applied for the maximum $75 million in funding, the top award was $45 million, which went to six regions including central Indiana.
In 2022, Gov. Eric Holcomb announced READI 2.0, which followed the first round of regional grant awards, which provided a share of $500 million to 17 regions in 2021.
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