A luxury hotel and spa. Rooftop dining and an entertainment venue. Senior living and a Ferris wheel. Those are just some of the ideas a developer wants to bring to the Washington Square Mall property.
About two dozen residents gathered Oct. 22 at the Warren Township Schools Administration building to hear from California-based developer BRC Commercial Properties, LLC. The developer is calling the concept “The Washington Grand Hotel, Resort, and Conference Center.” The developer estimated the project would cost about $5 billion.
Representatives for BRC said the ideas shared are not set in stone and there will be future meetings for residents to share input.
Many residents agree the Far Eastside property is in need of some redevelopment.
Eastsider Page Lacy said the property and surrounding area “has been going down for decades.”
“I want to see something positive happen to it, something that would help the neighborhood and not just be any old thing,” Lacy said.
Lacy said she has wondered if Washington Square Mall would have a similar fate to Lafayette Square Mall on the west side. After closing, a developer had plans for Lafayette Square but faced setbacks. The developer is now turning the westside property into apartments.
Teri Rypel said the ideas shared at the meeting was a good place to start. But, she said there is a long way to go before any development happens.
“They don’t have any funding yet that was mentioned,” Rypel said about BRC’s proposal. “I don’t know that they even have any particular investor that is willing to take on this project.”
At the meeting, Britt Wagner, CEO of BRC Commercial Properties, said the project would be funded by “several major investors,” including some “international investors.” However, he said he could not identify the investors due to nondisclosure agreements.
The developer also does not yet own the property. Although the mall is split between more than a dozen owners, Ohio-based Durga Property Holdings LLC is considered the primary owner of the property.
At the meeting, Eddie Hager, a representative for BRC, said the company has signed a purchase agreement and is in final discussions with Durga.
However, a representative for Durga said that is false.
Keith Lee Jr. serves as the operations manager for Washington Square Mall and works with Durga principal Kumar Vemulapalli. He said neither he, his lawyer nor Vemulapalli are aware of any purchase agreements.
Lee said Wagner is giving community members false hope.
“I just asked him for the purchase agreement today, and he said he didn’t have it with him,” Lee said. “I think that’s not fair, because what if this community also wants to see it, to see proof that something is in motion right now?”
Wagner told Mirror Indy a purchase agreement was signed in 2025. He said he was unable to share it with Mirror Indy due to a nondisclosure agreement he had to sign.
While the property is for sale, the mall remains open with about a dozen local businesses.
Wagner said he has spoken to a few of the mall’s tenants. He said some are worried about losing their businesses, but BRC would be committed to helping them find new locations after any redevelopment begins.
Once BRC has purchased the property, Wagner said he hopes for the project to be completed within five years. He said future community meetings have yet to be scheduled, but they will happen.
“All we’re trying to do is something for the community,” Wagner said.
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Mirror Indy reporter Darian Benson covers east Indianapolis. Contact her at 317-397-7262 or darian.benson@mirrorindy.org. Follow her on X @HelloImDarian or on Bluesky @darianbenson.bsky.social.
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