Developer Bails in Indiana
Cleveland-based Fairmount Properties has pulled out of a $100 million redevelopment project in downtown Fishers, northeast of Indianapolis. The developer says the current state of the economy, combined with the number of homes which would need to be acquired, makes it difficult to complete the project in Hamilton County. A number of public meetings will be scheduled to receive input on the future redevelopment of the area.
During good times, it is often unnoticed when the public provides land to private redevelopers. Accordingly, people are often more likely to ignore the overall likelihood the project will fail. However, what has occurred in Fishers,
