Our conceptual proposal for Broad Ripple High School assumed a partnership with a development firm to find the most appropriate long-term solution for redevelopment of the former Broad Ripple High School site which is congruent with Broad Ripple neighborhood objectives. Our proposal considered market analysis, SWOT analysis, financial feasibility, and planning and design principles to produce a final development plan that is the an effective reuse of the site, one that is financially profitable, community-oriented, and contiguous with adjacent land uses.

In using a public-private partnership in the site development, our proposal maximizes public benefit from each phase while conservatively using public dollars to fund reuse of the former high school. The development plan takes the long-term interest of Broad Ripple in mind.

A mixture of uses, new development and building renovation must be used to secure future success of the former Broad Ripple High School site. Our proposal identifies two phases, both implemented by the same development team – with the initial developer working in conjunction with various stakeholders for Phase Two. Phase One entails a developer acquisition of the southern portion of the site (8.43 acres) for $3.5 million from IPS. A mixture of 81 townhomes and condominiums will be developed and sold at $300,000-$450,000 per unit. Construction will include infrastructure development and extend a multi-modal path to the Monon trail. Phase Two will acquire the remainder of the site from IPS for $1.This is in accordance to House Bill 1641 of the Indiana State Legislature which allows a charter school or nonprofit to buy any vacant or unused school for $1. Acting in accordance with these principles, a Mutual Benefit Corporation will be formed between the developer, community stakeholders, and IPS. A Mutual Benefit Corporation (MBC) is a type of non-profit entity which exists to serve the best interests of its shareholders. As an MBC does not strictly exist for the benefit of all general public, the entity is still required to file income tax returns and pay income tax. MBCs may be set up for any lawful purpose, however, this proposal stipulates that the Broad Ripple High School MBS will be used explicitly to ensure proper community use ad infinitum. In this scenario, the developer would use profits from Phase One alongside savings from the building purchase to fund renovation and retrofitting of the existing structure for community use while taking on no debt for Phase Two

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The redevelopment will be a two-phase approach. Phase One will consist of construction of a mixture of 81 townhouses and condos at 1,000-1,500 square feet each per dwelling. During Phase One, the entire site will include infrastructure improvements including utilities, sanitary/sewer, domestic water, and fire hydrants.

Phase Two calls for a partial renovation of the building involving a minor demolition of a section of the building in the back to make way for better development and building reuse. Such demolition is necessary in order to maximize profits and reuse of Broad Ripple High School. The phase is planned to include over 300,000 square feet of leasable maker space, food preparation, retail, office, and artist live/work residences. The remaining parcel of land (former baseball field adjacent to future townhomes) will be designated greenspace on the site. The redevelopment will retain the current parking lot on the site.

In total, redevelopment of the former Broad Ripple High School Site will result in the creation of 162 residences, working to satisfy the demand for housing in the Broad Ripple Neighborhood. Furthermore, the artist live-work component, as well as the maker spaces, will maintain Broad Ripple’s identity as Indianapolis’ arts and culture neighborhood. Commercial and office spaces will tap into a smaller market in Broad Ripple that has demand. The community and other entities already located in Broad Ripple will see benefit from the special use event, performance, and gym spaces. In a broader sense, the development will restore connectivity along Broad Ripple Avenue and remove a gaping vacancy from both the neighborhood and the school corporation.