GREENWOOD, Ind. -- Downtown Greenwood could look a lot different in the future based upon development plans revealed Monday by Mayor Mark Myers.
Several proposed projects would surround the intersection of Main St. and Madison Ave.:
- 1.9 miles of new or reconstructed streetscape
- 9.9 acres of new or upgraded open space
- 75,000+ square. ft. of potential retail/office space
- Proposed 450+ apartments and 130+ townhomes
Mayor Myers says the city anticipates an increase in assessed property values and annual tax revenue with the downtown development.
"Our plans for the future of downtown envision a thriving city core with walkability, connectivity for trails, parks and other public assets, and dynamic public gathering spaces. We'll have diverse, authentic amenities, seamless integration of greenspace, and opportunities for all ages to live, work and play in downtown Greenwood," said Mayor Myers.
Public works projects in the downtown area will include a variety of roadway enhancements:
- Removal of Machledt Dr., and a new road connecting Market Plaza and Surina Way
- An additional east-west connection between Madison Ave. and Meridian St.
- A roundabout at Madison Ave. and Smith Valley Rd.
The downtown development plans include the construction of long stretches of improved streetscapes with both bicycle and pedestrian paths on Main St., Madison Ave. and Market Plaza.
The city released initial project estimates as well Monday:
- Old City Park Improvements - $4.6 million
- North City Center Parking Lot Redevelopment - $11 million
- Market Plaza/Surina Way Connector Road - $2.6 million
- Meridian St./Main St. Intersection Improvements - $800,000
- Madison Ave. (Pearl St. to Smith Valley Rd.) - $5.5 million
- Madison Ave./Smith Valley Rd. Roundabout - $1 million
- Main St. (Meridian St. to Market Plaza) - $3.7 million
- Middle School demolition - $1 - 1.5 million
Greenwood city officials say they will seek public input throughout the development process. An initial public open house will be held Thursday, March 9 at 6 p.m. at Greenwood’s City Center building, located at 300 S. Madison Ave.