The Fishers City Council unanimously approved a request from the Nickel Plate Hotel to extend its closing date by 18 months at the council’s Sept. 22 meeting.
The Nickel Plate Hotel, a boutique hotel, was proposed last year in conjunction with the First Internet Bank’s new corporate headquarters and a multi-family project on 116th Street in downtown Fishers.
“Nobody forecasted COVID and the impact it would then have on the tourism industry,” Economic Development Director Megan Baumgartner said. “They (hotel developers) have asked for an extension of their closing date.”
The closing date was originally scheduled for December but will now be June 2022.
“This gives them 18 months to finalize their plans to get through this pandemic and finalize their financing terms,” Baumgartner said.
By delaying the closing date 18 months, construction also will be pushed back 18 months after closing. The estimated completion time is 18 months after June 2022.
Mayor Scott Fadness said the delay has some positives.
“It actually has benefits in some regard,” Fadness said. “There are cost savings associated with building the tunnel for the Nickel Plate Trail while that hotel isn’t there. We would be able to peel back the dirt and build it independently.”
Fadness said another benefit would be less congestion tied to construction in downtown Fishers.
“Frankly, anybody who has been downtown realizes there’s an awful lot going on right now in one small space,” he said. “The upside is there will be more construction for longer, but it alleviates some of that congestion.”
For more, visit fishers.in.us.