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Redevelopment commission approves purchase of former Kmart and Hair Plus properties for $304,500

July 09, 2025 | Anderson City, Madison County, Indiana


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Redevelopment commission approves purchase of former Kmart and Hair Plus properties for $304,500
The Anderson Redevelopment Commission on July 8 approved a resolution authorizing purchase of two commercial parcels on Nickel Avenue — the former Kmart site at 2800 Nickel Avenue and a nearby Hair Plus parcel at 2013 Nickel Avenue — for a combined purchase price the resolution lists as $304,500.

The resolution (ARC 04‑25) states the two parcels total about 15.37 acres: the Kmart site is described as approximately 11 acres of land with no buildings, and the Hair Plus parcel as roughly 4.3 acres that includes a partially occupied building (the resolution notes about 3,000 square feet of a 22,000 square‑foot building is occupied). The seller is identified as Edgewood 1 LLC.

Staff said the purchase complied with the commission's appraisal requirement: two appraisals, by Dan Tudor and Diana Preiser, were obtained and the commission used the average of the two appraisals to set the purchase price. Richard Sims, president of the commission, is authorized by the resolution to appear at closing and execute required documents on the commission's behalf.

Why it matters: staff framed the acquisition as part of an ongoing effort to redevelop the quarter; the presentation referenced prospective retail interest in the area, including a grocery store, a hardware store and interest from a McDonald's for property on nearby Raybel Avenue.

Public discussion during the item included a question about total price and a request from an audience member that future resolutions be placed on the printed agenda with clearer identification ahead of votes.

Formal action: A motion to approve resolution ARC 04‑25 was made and seconded and commissioners voted in favor; the resolution passed. The resolution directs staff to proceed with closing and authorizes the commission president to sign closing documents.

Next steps: staff will complete closing with the title company, execute required documents as authorized, and proceed with redevelopment planning for the parcels.

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Scribe from Workplace AI
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