CityWay 2.0 takes shape downtown

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INDIANAPOLIS (WTHR) - The Indianapolis skyline is changing again as CityWay 2.0 takes shape along the Delaware Street corridor, just south of Bankers Life Fieldhouse.

Phase two of the mixed-used development that Buckingham Companies began six years ago includes a 15-story tower with full-glass exterior walls. It's being built above an existing parking garage and will have 70 apartments on floors 7-13. Penthouse units will occupy the 14th floor.

Two other low-rise buildings are going up nearby for a total of 402 apartments. They range from studio to three-bedroom units, with rent averaging $1,899 a month.

Ryan Gallmeyer

Ryan Gallmeyer, vice president of production operations with Buckingham said the units are geared toward a wide range of people, "from first-time people to Indianapolis to millennials and those just interested in having a place downtown or moving from the suburbs."

The project also includes a CVS and Taxman Brewery, both on the west side of Delaware across from the Alexander Hotel. Taxman currently has places in Bargersville and Fortsville. This newest location is going in an old building - a former livery built in the 1800s.

The livery had to be moved several hundred feet north on rollers to accommodate the rest of the project. Plans call for transforming it into a restaurant/bar with an outdoor patio.

Nathan Huelsebusch, CEO and co-founder of Taxman said, "We're excited about the space because of the redevelopment opportunity. The building was an 1850s horse livery and we get to take a space that needed love and turn it into something that will be an asset to the community."

Plans are for the restaurant and apartments to be completed in the fall of 2019.

The first phase of CityWay, opened in 2013. It included 250 apartments, the Alexander Hotel, and the Irsay Family YMCA at CityWay along with 40,000-square-feet of retail space.

Gallmeyer said phases one and two represent a $200 million investment.