INDIANAPOLIS—Ruth’s Chris Steak House has signed on to be the anchor tenant at the $30 million Ironworks at Keystone, a mixed-use project by Hendricks Commercial Properties that broke ground one month ago.
The 16,500-sq.-ft. restaurant will occupy a portion of two levels and seat more than 470 patrons at full capacity. The development sits at the southwest corner of East 86th St. and Keystone Avenue. Once complete in May 2014, Ironworks will feature 120 residential apartments, private underground parking, and 40,000 sq. ft. of commercial storefronts and restaurants.
“When we decided to build Ironworks, we knew Ruth’s Chris would be the ideal anchor tenant,” Rob Gerbitz, president and COO of Hendricks, in a statement. “We’re excited about their vision for the restaurant and are looking forward to working with Hoosier Hospitality Group as their plans take shape.” Hoosier is the management company that operates five franchise Ruth’s Chris Steak House restaurants in Indiana and St. Louis.
Local partners on this project include Shiel Sexton, Sitehawk Retail Real Estate, Buckingham Cos., Wooden & McLaughlin LLP and Civil and Environmental Consultants Inc. This is Beloit, Wis.-based Hendricks’ first project in Indiana.