CONSTRUCTIONAPPROVED

Fishers City Council Meeting Agenda March 16 2026

Fishers Approves $50M Hotel Project Agreement with Build BW

approximately $50 Million (developer investment); City to issue developer-backed bond (bond amount not specified in excerpt)City of FishersBUILD BWMarch 15, 2026

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Description

The Fishers City Council approved a Project Agreement with Build BW to design and construct a Tempo by Hilton Hotel and retail at 9001 Maynard Lane. Build BW will invest approximately $50 million, with the City supporting the project through developer-backed bond financing and property transfer. The term spans 25 years, with project completion targeted for December 31, 2027.

Contract Details

Contract Amount

approximately $50 Million (developer investment); City to issue developer-backed bond (bond amount not specified in excerpt)

Vendor

BUILD BW

Agency

City of Fishers, IN

Contract Type

CONSTRUCTION

Document Date

March 15, 2026

Contract Term

25 years from date of bond issuance (Bond Term); Project completion by December 31, 2027

Renewal Date

2051-03-16

Renewal Info

Agreement term aligns with 25-year bond; project must reach Substantial Completion by December 31, 2027. Automatic termination if Build BW is not named Award Recipient by May 1, 2026 or fails to commence construction within specified timelines.