By Brett Wallace, Chronicle-Tribune
bwallace@chronicle-tribune.com
Mike Egan calls his land-development project at Interstate 69 and Ind. 18 "the biggest project in the state that no one's ever heard of."
That's an exaggeration. By now, many people in Grant County have heard that a company called Veriana is involved in a large planned development near Marion's Interstate 69 interchange.
Egan said it's time to shed some light on this development project, which he said will be called The Renaissance.
Why 'The Renaissance'?
"Most people think of art and plays," he said of the term. "But renaissance also means rebirth."
Egan said the development will offer a new face to how people perceive Marion.
"We used the name 'renaissance' as a rebirth of Marion," Egan said. "We're not detracting from what Marion is. We're creating a new part of Marion. We have a clean slate."
In total, The Renaissance will be roughly 250 acres of land. Egan said the development has closed or nearly closed the deals to acquire all of its land from seven separate landowners. Egan described all of the deals as friendly and said he paid near the high end of the range for what the land is worth.
With that land, Egan has plans for what will be $500 million in development.
The Renaissance will stretch from Interstate 69 to 600 East and north from Ind. 18. The primary entrance to the development will be where the Marathon station now stands. Egan's group has purchased that land as well. The station will eventually close to make way for the entrance to The Renaissance.
Egan hopes the development will have a "downtown" look, by which he means commercial space will utilize the lower level with residential space on the upper level of some buildings. That also means wider streets, wide sidewalks and an emphasis on parking, he said.
Egan summarized the three major goals for The Renaissance: to attract jobs to the community, to service Marion from a housing and retail perspective and to build something at the edge of the interstate to let people see and know that Marion is here.
Veriana, hotel and housing to start
Egan said dirt will likely begin moving on site before the end of June. The first steps, he said, involve installing the infrastructure that will be required in the future at the roughly 250-acre site.
The first new structures will focus on three of the proposed pieces of The Renaissance: a data center that will be the headquarters for Veriana, a multi-family housing development and a new hotel and business center.
Veriana is part-owner of The Renaissance and will occupy about 22 acres on-site. Egan felt it was important for one of the major tenants to have a stake in the project's success.
Egan is excited about the prospect of a new housing development on the site.
"There's been no substantial multi-family housing development in Marion for more than 20 years," he said. "Users want certain amenities only available in newer housing. They want some updated stuff."
He said roughly 300 units of housing will be created in the development. That includes both condominiums and apartments. These will range from two to three bedrooms and from 800 to 1,500 square feet, Egan said.
"We'll be working with a multi-family builder to design something that meets the theme out there," he said.
Finally, Egan is in negotiation with several hotel chains to build a business hotel and conference center on the site, he said. He sees this hotel catering to Veriana and Ivy Tech as well as other business-related travelers to Marion.
Egan also plans to leave a clump of trees totaling about 30 acres on the property mostly undisturbed to create what he described as "a very unique park" that he likened to a smaller version of Central Park in New York, with lighted paths and jogging trails.
"I like having something athletic involved with my projects," Egan said. "I got into this business because I was involved in building athletic fields and golf courses."
Ready to move the earth
Egan said construction on the project is under way in terms of engineering but will become more noticeable before the end of June, by which time construction crews should be moving dirt and beginning to install roads and infrastructure for The Renaissance.
The developer and Ivy Tech are also in talks with the Indiana Department of Transportation to address how the increase in traffic will affect the Interstate 69 and Ind. 18 interchange.
Egan credited the city of Marion for making this project happen.
"Mayor Seybold and his staff have done a very good job of courting us," Egan said. "We wouldn't be here without them."
Egan, who is based out of northern California, said he was working on a project outside of St. Louis when Seybold drove down to the area to meet Egan and pitch the idea for development in Marion.
Bryan Harris works with Egan. Since Egan travels so much, he described Harris as his "eyes and ears on the ground" for The Renaissance.
Marion backed the land development with help from tax increment financing, and Egan believes this project will give back to the area. He has used an area bank, hired a Marion attorney, a Marion surveying company and an Indiana engineering firm and hopes the general contractor will also be from the area, although he added there will be no special breaks or favors done just to get local people involved.
In the end, Egan is glad to be creating jobs, housing and what he considers a new face for the city.
"Our intent is to create a new gateway into Marion," he said.