The Fishers City Council unanimously approved a project agreement to allow for construction of Hotel Nickel Plate, which is the third piece of the 116th Street downtown development.
The master plan for the area was announced by Browning Investments in December 2018. The plan includes a new six-story, 180,000-square-foot headquarters for First Internet Bank, a 237-unit, multi-family development by CRG featuring first-floor retail and resident amenities, and the rehabilitation of three historic buildings in downtown Fishers.
“The plan all along while working with First Internet Bank, CRG and Browning Investments was to bring a boutique hotel to this area,” Megan Baumgartner, director of economic development, said at the Dec. 16 council meeting.
The five-story, 116-toom hotel is part of the Tapestry Collection by Hilton. It will feature a full-service restaurant on the first floor and access to the Nickel Plate Trail.
The hotel is a $21 million investment. Part of the project agreement includes a waiver of impact and permit fees and $2.1 million from the downtown tax increment financing fund.
“Downtown Fishers is quickly becoming the heart of our community, showcasing the vibrancy of the community alongside growing and entrepreneurial companies,” Fishers Mayor Scott Fadness stated. “Hotel Nickel Plate will create another iconic destination downtown where residents, visitors, businesses, and more come together to enjoy all that downtown and the Nickel Plate Trail has to offer. We’re grateful to Browning and Dora Hotel Company for bringing our vision to light.”
The hotel’s design will pay homage to the Nickel Plate Railroad.
“We are eager to bring Hotel Nickel Plate to downtown Fishers. This project is especially fun for us because we get to bring such a cool project to our own backyard,” stated Tim Dora, president of Dora Hotel Company. “We are excited to see the development of downtown Fishers and to team up with Browning and the City of Fishers.”
“The Hotel Nickel Plate exemplifies the key factors that make the Nickel Plate District one of the most exciting places in central Indiana: great brands, collaboration among established leaders, strong community support, outstanding placemaking, and an ambitious vision,” Browning President and CEO John Hirschman said. “Browning is delighted to be a part of the team that’s making big things happen for the people of Fishers and central Indiana.”