Sarah S. Riordan
The Indianapolis Local Public Improvement Bond Bank
The Indianapolis Local Public Improvement Bond Bank
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In 2014, the Bond Bank sold $27.5 million of TIF Revenue Bonds to support the development of the Penrose on Mass development. The bond proceeds also were used for the acquisition and construction of a new Indianapolis Fire Department Headquarters and fire station. Located at the intersection of N. New Jersey St. and Massachusetts Ave, Penrose on Mass will sit next to the Old National Centre and will rest in the heart of Indy’s Mass Ave neighborhood. The development will have retail shopping and restaurants on the main level with residential units located above. Construction began March, 2017.
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