Thompson Thrift Hosts Groundbreaking for Final Phase of $750 Million Master-Planned Development Near Indianapolis

The Union will bring new luxury residences, vibrant retail and office space, and Indiana's first AC Hotel by Marriott to one of the state's fastest-growing cities.

INDIANAPOLIS, June 5, 2025 /PRNewswire/ -- Thompson Thrift, a full-service real estate company engaged in multifamily, mixed-use, industrial and commercial projects across the country, hosted a groundbreaking ceremony for The Union at Fishers District, the final phase of the master-planned development in the Indianapolis suburb of Fishers.

"The Union at Fishers District represents the culmination of years of thoughtful planning, innovation and collaboration across our entire team," said Josh Purvis, Managing Partner of Thompson Thrift Residential. "By combining premier office, residential, retail and hospitality components into a single, walkable destination, we're delivering a vibrant community that meets the needs of today's residents and businesses alike."

During the event, visitors enjoyed project highlights, heard from Mayor Scott Fadness and Thompson Thrift team members, and gathered to witness the ceremonial groundbreaking, followed by networking and refreshments from sponsors and future tenants The Oakmont and Everbowl.

Located near Interstate 69 and 116th Street, the commercial portion is expected to complete construction in late 2026 and will include 57,000 square feet of retail, restaurant and entertainment space, 70,000 square feet of Class A office space and a 135-room AC Hotel by Marriott. Confirmed tenants include Everbowl, Racha Thai, The Oakmont, Renova Aesthetics and wellness-focused Sweathouz, as well as new-to-market restaurant concepts Niku Sushi.Kitchen.Bar, Kitchen Social, and Piedra, Flavors of Mexico.

"Fishers District has been the launching ground for many signature culinary experiences, and we are thrilled that The Union will continue to elevate the local dining scene, creating a place where people can gather, share and savor something truly special," said Ryan Menard, vice president of development at Thompson Thrift.

The residential portion of the development, The Union Flats, will be a modern, upscale residential community vertically integrated above ground-floor retail. Set to welcome residents in late 2026, the 251 apartment homes will feature upscale finishes and access to resort-style amenities such as a resort-style swimming pool, outdoor entertainment kitchen, community grilling areas and electric firepits with seating areas. Other community amenities will include a fully equipped fitness center with 24-hour access, bike storage, focus suites, a dog park with agility equipment, a pet spa with grooming station and much more.   

Inside the studio, one-, two- and three-bedroom apartment homes, residents will find many of the luxury touches Thompson Thrift communities are known for, including elegant quartz countertops, stainless steel appliances, side-by-side refrigerator, a full-size washer and dryer, large walk-in closets and energy-efficient LED lighting.

"The Union at Fishers District is a shining example of how thoughtful development can enhance both innovation and an exceptional quality of life," said Fishers' Mayor Scott Fadness. "From modern workspaces and elevated living to exceptional dining and entertainment, The Union will enrich our community and create lasting experiences for residents and visitors alike. We are proud to see this final phase come to life in the heart of our city's entertainment district."

Thompson Thrift first began work on the Fishers District development in 2015 and received a Monumental Award from the Indianapolis Chamber of Commerce in 2020 for the inaugural phase. Once completed, the $750 million development will span 123 acres and offer an array of multifamily, hotel, office, dining, shopping and entertainment options connected by well-designed walking paths that allow residents and visitors to explore the master-planned development on foot.

Since its founding nearly 40 years ago, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive multifamily communities and commercial projects across the Midwest, Southeast and Southwest.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver; Houston; and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential, which is focused on upscale Class A multifamily communities; Thompson Thrift Commercial, which is focused on ground-up commercial and industrial development; and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of development, construction, leasing and management of quality multifamily and commercial projects across the country. The company earned national recognition as a winner of a 2025 Top Workplaces USA award, the latest accolade that reflects the company's ongoing commitment to excellence in the community and workplace. For more information, please visit www.thompsonthrift.com.

Contact:
Jennifer Franklin
Spotlight Marketing Communications                                            
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SOURCE Thompson Thrift