Construction is underway for a $300 million mixed-use development in Plainfield.
Founder and President of New City Development, Isaac Bamgbose, said the area just west of Indianapolis is long-overdue for this kind of project.
“It’s a mixed-use type of master plan community that has everything from apartments, market rate multifamily apartments, all the way to single family homes and senior housing opportunities for offices built to suit retail and even some industry as well,” Bamgbose said.
Bamgbose said Plainfield’s population has grown tremendously in recent years.
“In just the past two years, it has experienced almost a 5 percent population growth annually,” he said. So, you know, you’ve got these new residents, you’ve got the jobs that with Plainfield are plentiful, the logistics and e-commerce concentration that’s out there. And they’re again well-paying jobs and so you know, they want more than just kind of the basics.”
Phase 1 of the master-planned Hobbs Station development is set to be completed at the end of 2024.
“First phase will be delivering portions of it next year, middle to end of next year. So, you know, some of the single-family homes will start coming online in the middle of next year, and then the multifamily mixed use will be towards the end of 2024. And that goes for the retail as well because it’s kind of all one building,” “ Bamgbose said.
Hobbs Station is located at the intersection of the historic Old National Road.