Leaders from the City of Westfield joined Old Town Companies on Thursday in announcing a new residential and commercial development and an expansion to the company’s Union Square at Grand Junction project. Combined, Old Town’s downtown investment stands at $80 million in private investment in the heart of the city. Old Town is adding a 300-plus spot parking garage in its Union Square mixed-use development and plans to build a new townhome development, Midland South, along the Midland Trail and across from the city’s Grand Junction Plaza, which is now under construction.
Cook
“Families and businesses want to be in Westfield,” said Mayor Andy Cook. “We have worked with residents for years to create the vision for the heart of our city. Now it is coming to life. I am happy to have Old Town join us in this journey.”
“Downtown Westfield is ready for investment and we are excited to be a part of it. Our update to Union Square includes the addition of a parking garage and an expansion of the development to include five acres on the east side of Union Street,” said Justin Moffett, a partner with Old Town. “Midland South was planned in response to feedback from community residents desiring for-sale housing within walking distance to Grand Junction Plaza. The natural beauty of the Midland Trail adjacent to our proposed townhome community is an added benefit.”
As part of the Union Square project, the City of Westfield, pending approvals by the Economic Development Commission, Redevelopment Commission and City Council, will enter into a public-private partnership with Old Town to build a parking garage. The city will use increment from the Economic Development Area to pay for its portion of the garage. Pending approvals, construction is expected to begin this summer.
This rendering shows a design proposal of the upcoming Union Square at Grand Junction. Please note that this is not the final design. (Rendering provided by City of Westfield)
Union Square sits on the north end of Westfield’s Grand Junction Plaza. Construction on the Plaza began last summer and is expected to be complete later this year. 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 ice-skating rink.
The downtown vision for Westfield also encompasses infrastructure improvements. In 2022, the City will begin construction on the new Jersey Street extension, adding a new east-west outlet through downtown. And, in 2018, the City of Westfield and the Indiana Department of Transportation (INDOT) kicked off a $15 million road reconstruction project for State Road 32 to address congestion and capacity concerns and improve accessibility to downtown Westfield. The reconstruction sets the stage for the 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 wellbeing of its residents. Old Town’s sister company, Old Town Design Group, is the leading custom homebuilder in 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.
Rendering provided by City of Westfield
This rendering shows a design proposal of the upcoming Union Square at Grand Junction. Please note that this is not the final design.