Thompson Thrift began with The Yard development near IKEA and has expanded plans east with The Stations. The Fishers City Council approved the project agreement with Thompson Thrift for The Stations development, but three council members voted no.
The vote was 5-3. Councilman Todd Zimmerman was not at the Monday meeting. David George, Brad DeReamer and Cecilia Coble voted no on the agreement.
George voiced concern about the drainage and trees, saying those items are driving the need for Tax Increment Financing (TIF) dollars. There are ways to modify the plans, George said.
A representative of Thompson Thrift replied that the parking is very tight in that development and the plans reflect the underlying economic need for the plans as presented to the council.
The project calls for construction of a mixed-use building with office and retail, a commercial building, a hotel and approximately 50 town homes on the site. The project agreement approved by the council Monday means Thompson Thrift will be investing about $90 million in the entire development, including The Yard, the District and The Stations.