$25M development to locate in downtown Westfield

On Tuesday, leaders from the City of Westfield joined Old Town Companies in announcing a new residential and commercial development in downtown Westfield. The $25 million private development, Union Square at Grand Junction, will be located in the city block between State Road 32 and the Plaza.

Through its collaborative community-focused approach, Old Town Companies plans to develop retail shops, restaurants, market rate apartments and for-sale condos. The phased development will begin in 2020 and will continue over the next three to five years.

“This is an exciting time to be a part of Westfield and I am appreciative of Old Town’s partnership with Westfield and its desire to engage the community,” said Westfield Mayor Andy Cook. “Our Council recently invested in the Plaza with the intention that this could show a return on investment and the private sector is already responding. I am hopeful to see where this project will go and how it can benefit Westfield.”

“Our goal for Union Square is to create a small village architecturally with buildings that look as if they’ve been there for 100 years,” said Justin Moffett, a partner with Old Town. “Our interest in this site was initially generated by the proposed plans Grand Junction Plaza. It’s an outstanding location and with the development of Grand Junction Plaza, we’re excited to get started on being a part of the area’s transformation.”

Last month, the Westfield City Council approved a $35 million funding plan for the Grand Junction Plaza. The project, in development for more than 10 years, has already been a catalyst for economic growth in the city’s downtown. The unique six-acre park will feature greenspace, trails, an amphitheater and an ice-skating rink. Construction will begin this summer. The city’s role, particularly related to parking, in the public-private partnership will be determined as the private sector plans develop.

“When we voted to support the Plaza funding, we knew our finances were strong and our vision was sound,” said Jim Ake, At-Large City Council member. “The commitment to build Union Square at Grand Junction is validation of our strategy. I am proud to see where we are going and to be a part of it and am thrilled to partner with Old Town Companies with its track record of success.”

The announcement kicks off an input-gathering process. Old Town is working with business owners and the Westfield Lions Club to find suitable relocation options within the project or to new locations. In addition to working with the Downtown Westfield Association, Grand Junction Task Group and community stakeholders, Old Town plans to host a series of community workshops in July to encourage public comment on development plans.

In 2018, the City of Westfield and the Indiana Department of Transportation (INDOT) announced a $15 million road reconstruction project for State Road 32. The project will address congestion and capacity concerns along the SR 32 corridor and will improve accessibility and safety. The reconstruction sets the stage for Grand Junction District, which will be considered Westfield’s new “heart of the City.”

About Old Town Companies

Old Town Companies is an award-winning central Indiana-based real estate development company that pursues community-focused development projects that enrich the lives and well-being of its residents. Old Town’s sister company, Old Town Design Group, is the leading custom homebuilder in the northern Indianapolis suburbs of Carmel, Westfield and Zionsville specializing in creating timeless custom home designs.

About Grand Junction Plaza

Grand Junction Plaza is a six-acre park in Westfield that is primed to become the landmark park of the Midwest. The Plaza is designed as a civic space that will be the central focus of the City of Westfield’s development plan while mitigating regional stormwater and facilitating the restoration of Grassy Branch Creek.