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IDA Board Approves Building Sale

IDA Board Approves Building Sale
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Central Office to Relocate Downtown

On April 7, the Board of Trustees voted unanimously to accept a purchase offer on the IDA Central Office building and enter a lease arrangement for a new headquarters in downtown Indianapolis.

The IDA moved to its current location on the south side of Indianapolis in October 2012. While it has served the needs of the Association nicely, when remodeling options were explored, several issues were identified. IDA’s high use of meeting space triggered more stringent business/assembly codes that would require the addition of a sprinkler system. There were also code concerns related to an upstairs meeting room that was added after the building was original constructed.

“We were going to have to make significant improvements to stay in our building long term,” explained Executive Director Doug Bush. “Instead, the Board elected to sell the building and search for a new home.”

IDA Central Office STT bldg
IDA’s new offices will be located in the Sigma Theta Tau building on the IUPUI campus.

The IDA has signed a five-year agreement to lease space on the third floor of the Sigma Theta Tau International Honor Society of Nursing building, located on the corner of West Street and Indiana Avenue, on the IUPUI campus.

“We will be within walking distance of the IU School of Dentistry and the State House,” explained Bush. “Additionally, the space is ‘move in ready’, allowing us to move with minimal disruption to IDA operations.”

Closing date on the sale of the building is scheduled for May 25, the week following the IDA Annual Session. “We are still in the ‘due diligence’ period with the buyer so we cannot yet discuss terms of the sale,” explained Bush. “While we are confident things will proceed as planned, the sale is not final until the closing date.”

“We plan to move the week of May 21 and be fully operational at our new location by the end of that week.”

Central Office phone numbers and email addresses will remain unchanged. The new mailing and street address will be 550 W. North Street, Suite 300, Indianapolis, IN 46202, effective May 23, 2018.

 

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