CONSULTATION & PLANNING PARTNER
16 Tech is an innovation district on approximately 50 acres located on the near northwest side of Indianapolis, just minutes from the center of the city’s downtown district. The innovation district is purpose-built to attract the best talent to collaborate, innovate and commercialize new ideas across a spectrum of advanced industries, including life sciences, technology and advanced manufacturing and engineering.
Browning’s role at 16 Tech began with its real estate engagement with the Indiana Biosciences Research Institute (IBRI), which became the anchor institution catalyzing 16 Tech and the formation of the community development entity known as 16 Tech Community Corporation (16 TCC). Over time, Browning’s role guiding IBRI quickly became a full-fledged economic development effort for the entire 16 Tech region involving many landowner partners, stakeholders, public officials and area neighborhoods.
- Negotiate with the City of Indianapolis for control over a 19 acre parcel in 16 Tech on behalf of the IBRI
- Undertake a comprehensive planning exercise for 16 Tech, including conducting public planning sessions with hundreds of community, political, charitable, industry and academic participants
- Work with an engineer to finalize a detailed cost analysis and schedule for infrastructure requirements to support development of 16 Tech and IBRI permanent facility in a manner consistent with the Master Plan
- Work with the IBRI and the City of Indianapolis to assemble a successful request for $55 million dollars TIF support for 16 Tech infrastructure, including 16 Tech development projections, infrastructure requirements and draw bond projections
- Work with 16 Tech property owners, including Cook Regentec, Indiana University, IU Health, Eskenazi Health and Citizens Energy Group to form a combined control entity to govern, develop and manage 16 Tech in a coordinated, collaborative and consistent manner
As Browning’s scope of work with the 16 Tech Community Corporation (16 TCC) changed and grew over time to include vertical projects, we responded quickly and seamlessly by working with 16 TCC to transition from our consulting role to include acting as a Developer and Construction Manager at-risk on four projects at 16 Tech.
Working within the District’s vision, Browning is creating world-class vertical design, securing financial partners, procuring tenants, programming high-value uses, and partnering with a myriad of diverse contractors to construct ±375,000 square feet and ± 250 multi-family units anticipated for initial phase over 5-year period as the first phase of development at 16 Tech.