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Formula 1, Union Project and new hotel among Fishers projects the mayor says will reshape 96th Street corridor
Summary
Mayor Scott Fadness spotlighted multiple private developments — Formula 1 race facility, the Union Project, Crossing Flats housing, BW restaurants and a luxury hotel due to break ground May 2026 — and said these projects will catalyze regional growth along the 96th Street corridor.
Mayor Scott Fadness used the State of the City address to update residents on a slate of private development projects he said will transform Fishers' 96th Street corridor and downtown.
Fadness said a Target is under construction and is expected to open in 2027. He described the Formula 1 project — a race facility the mayor said will "transform the 96th Street Corridor" and attract global attention — with facility operations targeted for 2026 and additional private development expected around it.
He also described the Union Project as actively under construction and listed several tenants expected to locate there. Crossing Flats, a luxury multifamily and retail development, was announced to break ground in 2026; the BW development already has active construction with plans for three to four restaurants. The mayor announced a luxury lifestyle hotel is scheduled to break ground in May 2026 and will include retail components intended to animate a new plaza.
Downtown investments include CityView, a 55+ apartment development, and ongoing expansion at the IU Health Fishers campus. Fadness said three medical service companies plan to build near Central Indiana Orthopedics at Exit 210, which he called the beginning of an Exit 210 medical service corridor.
Fadness credited state legislative work, including help from State Senator Kyle Walker, for unlocking some funding and statutory designations that helped catalyze local projects. He also noted the city's economic‑development staff, including Megan Bogartner, as actively working to find suitable tenants and to mitigate construction impacts to existing businesses.
The mayor portrayed these projects as part of a deliberate effort to create a culinary, entertainment and medical service ecosystem, and said additional announcements will follow in the near term. He gave no timetable for permitting decisions or city incentives during the address; specific financing or incentive terms were not provided in the speech.
