CONSTRUCTIONAPPROVED

City of Fishers Resolution R031626A Approving Project Agreement (Crossing Hotel)

$50M Fishers Hotel Project Approved with Build BW

Approximately $50 Million (developer investment); Bond not to exceed available TIF; City conveys land at no costCity of FishersBUILD BWMarch 16, 2026

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Description

The Fishers City Council approved a Project Agreement with Build BW for the Crossing Hotel at 9001 Maynard Lane. Build BW will construct a Tempo by Hilton Hotel and adjacent retail, investing approximately $50 million, with City incentives including land conveyance and a developer-backed bond. The agreement requires project completion by December 31, 2027 and outlines a 25-year bond.

Contract Details

Contract Amount

Approximately $50 Million (developer investment); Bond not to exceed available TIF; City conveys land at no cost

Vendor

BUILD BW

Agency

City of Fishers, IN

Contract Type

CONSTRUCTION

Document Date

March 16, 2026

Contract Term

Bond term: 25 years; Project to reach Substantial Completion by December 31, 2027; Agreement effective March 16, 2026 through bond term

Renewal Date

2051-03-16

Renewal Info

Bond term is 25 years from issuance, with agreement set to terminate at bond maturity. Developer must complete hotel and retail by December 31, 2027. Major milestones and deliverables are set in the agreement. Renewal not automatic; future amendments/renewals subject to City approval.