Unveils Plans for $300M Mixed-Use Project

[ March 30, 2022 ]

A partnership led by Indianapolis-based New City Development has unveiled plans for Hobbs Station, a $300 million mixed-use project in Plainfield, about 19 miles southwest of Indianapolis.

Hobbs Station will be located on a 125-acre site just off U.S. Highway 40. Phase I of the project will consist of 300 apartments with 30,000 square feet of street-level commercial space, 99 single-family homes and 500,000 square feet of logistics space. The industrial component will be known as Terminus at Hobbs Station.

Phase I’s residential amenities will include a pool, fitness center, remote workspaces, a pet washing facility and various open green spaces. As part of the project, the development team is investing in local infrastructure, including a two-mile extension of the Vandalia Trail across the southern boundary of the site. The trail network will connect to a public park with pickleball courts, a playground and space for festivals and events.

Additional planned infrastructure improvements include new sidewalks, landscaping, hardscaping, utilities, stormwater facilities roads and parking. Construction of Phase I is slated to begin this summer.

At full build-out, Hobbs Station will feature 240 single-family homes, 650 multifamily units, 120 seniors housing residences, 70,000 square feet of retail and restaurant space, 540,000 square feet of logistics space and 200,000 square feet of build-to-suit office space.

New City is developing Hobbs Station in partnership with the City of Plainfield, Atlanta-based single-family homebuilder PulteGroup Inc. (NYSE: PHM) and Formation Properties, a company that specializes in developing logistics and mixed-use properties in Central Indiana. Shiel Sexton Cos. is the general contractor for the project.

“Terminus at Hobbs Station will feature modern logistics and light industrial space that taps into Plainfield’s strength as an internationally recognized industrial hub,” says Wes Podell, partner at Formation Properties. “Putting an emphasis on thoughtful design and functionality, we are excited to offer desirable space to a wide range of potential users seeking to attract and retain top talent.”

“Hobbs Station is planned to be dynamic and approachable, and our investments in infrastructure and quality will result in significant economic impact for the community,” adds Robin Brandgard, Plainfield’s town council president. “This project will bring desirable and diverse housing options and amenities to the area, not to mention an extension of the Vandalia Trail.