Indiana Secretary of Commerce Brad Chambers joined local officials yesterday to break ground on the McCord Square Downtown District, a $50 million, 48-acre quality of place investment in McCordsville. The project, which is advancing with support from
the nationally recognized Indiana Regional Economic Acceleration and Development Initiative (READI), will create a new central hub and identity for the fast-growing community in central Indiana that will serve as a central gathering space for residents
and visitors, establishing a vibrant new sense of place and increasing outdoor, commercial and residential amenities
“Indiana’s transformational READI initiative is breathing new life into neighborhoods, communities and urban cores across the state,” said Sec. Brad Chambers. “It’s an exciting day for McCordsville and for the Central
Indiana region as we break ground on a landmark development that will help transform this growing community into a future-focused destination that will attract and support the entrepreneurs, innovators and talent of tomorrow’s economy”
The nationally recognized READI program is allocating $500 million to 17 regions across the state to accelerate shovel-ready projects and programs that are expected to transform Indiana communities, attract talent and improve the quality of life for Hoosiers
in the short and long term. In Central Indiana, McCordsville is part of the White River Regional Opportunity Initiative Partnership that was awarded $20 million in READI matching funds advance the region’s vision focused on equity, environment
and economy, supporting population growth, talent attraction and retention, and smart economic development.
McCord Square is a 48-acre mixed-use development that is a key project in the White River corridor, designed to establish a new, future-focused identity for this growing community that has been transforming from a rural farming town. This new town center,
located on the southeast corner of Broadway Avenue (S.R. 67) and Mt. Comfort Road, will serve as a dense, central gathering spot and will establish a true downtown for the community, bolstering business and talent attraction.
“This groundbreaking is the next big step in creating a new identity for McCordsville" said McCordsville Town Councilman Larry Longman. "Town leadership and staff have spent over a decade planning for this development, and today represents the culmination
of so many moving parts coming together to create a new direction for our community. With the addition of the READI grant we are able to add many more amenities and details to this first phase to make this project unique."
READI matching funds are being used to support phase one of the project ($3.5M READI allocation), which includes McCord Square Apartments, the district’s anchor development that will feature 205 new apartment homes and commercial studios on the
first floor, as well as essential infrastructure projects, including roadways and trails with lighting, landscaping and water features, 15 acres of open park space, and irrigation and stormwater facilities. The apartments and the surrounding infrastructure
are scheduled to be complete in early spring of 2024, paving the way for community growth and future development.
Through READI, 17 regions across the state that represent all 92 counties are moving forward with projects and programs designed to enhance Indiana’s regions for current and future generations of Hoosiers. Collectively, the state’s $500 million
investment is expected to yield an additional $9.86 billion public, private and nonprofit dollars invested (19.72:1 investment leverage ratio) in enhancing Indiana’s quality of life, quality of place and quality of opportunity.
