Indianapolis will implode a northeast side eyesore in the next four months.
The Department of Metropolitan Development has awarded the contract to demolish Keystone Towers, at Allisonville Road and Binford Boulevard, to Denney Excavating.
The company, which had the lowest bid at $827,000, has agreed to bring down the towers within 120 days.
“The bids allowed the contractors to decide what form to use to bring the buildings down. The winning bid happened to be using implosion,” said Mayor Greg Ballard spokesman Marc Lotter. “They believe that will be the most cost-effective thing. They’ll also clean up the site.”
Funding for the demolition will be covered by a federal Neighborhood Stabilization Program grant, which requires any redevelopment efforts to include mixed-income rental housing on the site.
“Mayor Ballard is committed to the redevelopment of this site,” Lotter said. “This is an eyesore and a blight on the neighborhood and our entire city.”
The 15-storey apartment complex, which was shut down by the city in 2008, has become a haven for squatters and drug dealers.
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