Indianapolis, Indiana – The future of a well-known downtown monument is still unknown. We have been keeping an eye on the Circle Centre Mall’s future, and according to the owning group, plans are still being developed.
Partner at Wallack, Somers, and Haas and legal advisor to Circle Centre Development Company is Adam Collins. Plans for renovation, according to him, are still being developed and are not yet complete.
“The ownership group is still committed to finding a redevelopment option and working with our partners at city and state to determine what our best option might be,” Collins said.
In recent years, Circle Center Mall has lost tenants. The most recent tenant was Chick-fil-A, which has been there for 20 years. But new companies are relocating to the mall.
“What the ownership group has done is continue to find new tenants that match the use we have available, and contemplation of redevelopment efforts,” Collins said. “We continue to find new tenants. On Georgia Street, you have the Rhythm and Blues Lounge, others that have come back in.”
Collins claims that they have not kept track of the mall’s emptiness.
“The uses of the mall have evolved over time,” Collins said. “The nature of retail is changing.”
However, they are sure that Circle Centre will continue to attract businesses.
“The reason Circle Centre remains an attractive asset is the connectivity it has to other businesses in downtown Indy,” Collins said. “At the same time, that’s what makes it more of a challenge to redevelop and that’s what we’re working through.”
The fact that the property is held by the city yet the building was built and is currently operated by a private company makes the project particularly difficult.
“But we’re still going through that process, still working, and hoping to have an update for everyone sooner rather than later,” Collins said.
When we contacted the city, they politely denied our request for an interview, saying they were at a loss for words at the moment but hoped to have more to say later.
