Thompson Thrift Development Opens First Restaurant, Welcomes Residents at $750 Million The Union in Fishers

INDIANAPOLIS (Nov. 10, 2026) – Thompson Thrift Development announced a series of milestones at The Union at Fishers District in Fishers, Indiana, including the opening of its first restaurant, the arrival of its first residents and continued progress on commercial leasing and public amenities. The firm said the final phase of the $750 million master-planned development is nearing completion. The project includes an AC Hotel by Marriott owned and operated by Dora Hospitality LLC.

First Restaurant and Residents Arrive at The Union

Flower Child, a restaurant known for its health-focused menu, recently opened at The Union, the first of several planned additions to the development's tenant mix. The opening follows the arrival of the first residents at The Union Flats at Fishers District in early October, according to Thompson Thrift.

The Union Flats is a 251-unit luxury multifamily community offering studio, one-, two- and three-bedroom apartment homes with upscale finishes and resort-style amenities.

"Our goal has always been to create a vibrant, connected destination where people can live, work, dine and spend time together," said Dan Sink, President and Chief Financial Officer of Thompson Thrift Development. "With residents now calling The Union Flats home, businesses opening their doors and more experiences on the way, it's exciting to see that vision come to life."

Dora Hospitality to Operate Indiana's First AC Hotel

The development will also include Indiana's first AC Hotel by Marriott, a 135-room property owned and operated by Dora Hospitality. Thompson Thrift said the hotel will expand accommodations in the district for business and leisure travelers.

Tenant Lineup and Office Leasing

Additional restaurants, retailers and wellness concepts anticipated to open at the development include Cunningham Restaurant Group, Jeni's Splendid Ice Creams, Niku Sushi.Kitchen.Bar, Kitchen Social, Piedra, The Oakmont, Everbowl, Racha Thai, JETSET Pilates, Renova Aesthetics and SWTHZ.

The Union also includes 70,000 square feet of Class A office space, where leasing activity is underway, Thompson Thrift said. The firm reported growing interest from prospective tenants.

"The response we're seeing from prospective tenants reinforces the appeal of The Union's integrated approach to development," said Ryan Menard, Vice President of Development at Thompson Thrift. "Businesses increasingly recognize the value of environments that offer more than traditional office or retail space. With new restaurants opening, residents moving in and additional amenities on the horizon, The Union offers a compelling opportunity for businesses to become part of an established and growing destination."

The office component remains under construction, with projected completion in the first quarter of 2027. The project is located at 9321 Union Place Drive, near Interstate 69 and 116th Street.

Public Art and Community Amenities

A new public art initiative will introduce eight murals throughout the development. Local artists were asked to create original designs celebrating the City of Fishers, its history and the character of Fishers District.

"The continued evolution of Fishers District reflects our commitment to creating places that bring people together and strengthen our community," said Fishers Mayor Scott Fadness. "The Union is an important part of that vision, bringing new businesses, housing, and opportunities to a vibrant, walkable destination. These latest milestones are an exciting moment for Fishers, and we look forward to seeing Fishers District continue to grow and thrive."

Fishers District Context and Market Backdrop

The Union is one of five distinct developments within the 123-acre Fishers District master-planned development, which Thompson Thrift began developing in 2015. Upon completion, the broader district is expected to contain more than 270,000 square feet of retail and restaurant space, over 1,200 apartment units, more than 600 hotel units and 85,000 square feet of office space.

Thompson Thrift recently broke ground on The Crossing Lofts, a 273-unit luxury multifamily community in Fishers District. The firm expects it to welcome its first residents in January 2028.

The Union is delivering into a mixed Indianapolis market. Metro office vacancy was 20.7% in the second quarter of 2026, down 32 basis points year over year, with weighted average asking rent essentially flat at $22.71 per square foot on a full-service gross basis. Indianapolis retail vacancy averages about 5%, with northern and western submarkets reporting positive absorption and rents above $30 per square foot. Asking capitalization rates averaged approximately 7.19% in 2026 retail listings.

Over the past 40 years, Thompson Thrift has invested more than $7.9 billion into local communities, according to the firm. The company is engaged in development, construction, leasing and management of real estate projects across the country.

Sources

Thompson Thrift press release: https://www.thompsonthrift.com/pressroom/thompson-thrift-celebrates-major-milestones-at-the-union-at-fishers-district