CIRB News & Transactions
News 07/06/2008 : Ralston Square Developers Announce Hotel & Restaurant Contracts Indianapolis, IN (July 6, 2008) – Indianapolis-based Ralston Square, LLC (www.ralstonsquare.com) announced today planned hotel and restaurant anchors for the $60 million mixed-use, high-rise development. Ceres Development Company, LLC is planning to introduce the Cambria Suites brand to the 11-story Ralston Square building in downtown Indianapolis. Managed by Ceres Development Company, the 155-all suite hotel would feature stylish design and guestrooms up to 25% larger than the average hotel room. In addition Ralston Square, located at the northeast corner of South Street and Meridian Street, has contracted with the Landmark Leisure Group on approximately 37,000 square feet of first floor commercial space. The restaurant and leisure company is planning to house up to three of their restaurant and leisure concepts including BlackFinn Restaurant & Saloon and Strike City Lanes.
“With the recent announcement of the 2012 Super Bowl and continued development of downtown Indianapolis, the excitement surrounding Ralston Square continues to build. We are thrilled to be meeting with such contemporary and unique hotel and entertainment brands.” said Brian Epstein, founder of Urban Space and co-developer of Ralston Square.
The two top floors of Ralston Square showcase 40 condominiums with unparalleled views of Lucas Oil stadium and the downtown skyline. The modern condominium homes range in size and are priced from $275,000. The amenities include individual decks, secured parking and an ideal location nestled between two Indianapolis sports stadiums. Ralston Square has partnered with Richard Carney Designs to design the unique condominiums. Ground breaking is expected to begin in the fall 2008.
Acknowledging the city’s rich architectural history, Ralston Square was named for Alexander Ralston, lauding the architect’s role in creating the original plan of Indianapolis and recognizing the building’s location within Ralston’s 1821 one mile square grid. Ralston Square, LLC is developing the environmentally sustainable building with the intention of Ralston Square becoming the first high-rise in Indiana to achieve LEED (Leadership in Energy and Environmental Design) green building certification.
RATIO Architects will be leading Ralston Square’s certification process through the U.S. Green Building Council’s LEED rating system, the nationally accepted benchmark for design and construction of high performance buildings. They will be seeking a Silver LEED certification level. The updated architectural design, pending regional center approval and variances, enhances the daylight and solar shading strategies of the west and south sides of the building. Street level rain gardens have been introduced to the project, helping mitigate storm water runoff from the site along with over 11,000 square feet of green roof space. The architects have further increased the building’s overall energy savings, utilizing a central plant that connects to the city’s steam and chilled water. (New renderings are available at www.ralstonsquare.com).
The ground floor includes over 37,000 square feet of commercial space which will house the three Landmark Leisure concepts. The second level will have over 40,000 square feet of commercial space. Levels four through six provide 525 parking spaces earmarked for commercial space usage. Cambria Suites is expected to occupy levels seven through nine. The hotel will greet guests with a story lobby and feature a restaurant and meeting space. The top floors will include 40 condos each featuring individual outdoor space and a shared green roof space.
For more information on Ralston Square visit www.ralstonsquare.com. To schedule an interview please call Amy Peddycord at 317.525.6965 or email amy@ralstonsquare.com.
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