Metropolitan Development Commission Agenda Packet 2026-06-17
Drake Redevelopment Agreement Modified to Add Partner
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Description
Through Resolution 2026-R-019, the Metropolitan Development Commission authorized modification of its existing option agreement with ALK Development, LLC for The Drake property at 3060 N. Meridian Street, adding Midwest Support Foundation Inc. as a party or replacing it with a new agreement. This change facilitates a joint redevelopment approach for the historic Drake site.
Contract Details
Vendor
ALK DEVELOPMENT LLC
Agency
City of Indianapolis, IN
Contract Type
FACILITIES
Document Date
June 17, 2026
Renewal Info
Existing option to purchase agreement with ALK Development, LLC, authorized in 2025-R-025, may be amended to include Midwest Support Foundation Inc. or replaced with a new agreement including Midwest.
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