By Heather Lusk
Boone Village may soon be growing.
RSE Realty Inc. has submitted plans to develop a nearly 8,000 square-foot building at the northeast corner of Ford Road and Oak Street. It would be directly north of the Speedway gas station.
Stan Evans, president of RSE Realty Inc., said that he would like for construction to start this summer dependent on prospective tenants. No tenants have committed yet, but Evans is optimistic.
“We’ve found that there really was plenty of demand for it,” he said. “The fact that we’ve started moving this forward with the planning process and have elevations to share with people, it’s definitely increased the level of interest beyond really what I expected it to be.”
Boone Village is anchored by Marsh and Akard True Value Hardware. There is one rental space available on the property after Brunchies closed at the end of February.
“That whole corner has maintained occupancy at 97 percent plus,” he said. “Putting another building out there was our long term strategy when we bought it.”
Evans said the building could hold anywhere from one to five tenants but expects to have three.
“They’ll be consistent with what we have now, retail office folks,” he said of the Boone Village tenants. “We’ve got everything from shoes to physical therapy and insurance.”
The rendering shows a primarily brick building, which Evans estimates will cost $2 million.
“It’s a cleaner simpler look with a bit of a modern edge to it,” he said.
RSE Realty Inc., based in Indianapolis, manages Boone Village and other properties throughout Indiana. The proposal is scheduled to be considered by the Plan Commission on March 20.