With the creation of a designated target area by the Economic Development Commission, a new project featuring a Marriott-branded hotel, a multi-tenant retail strip center and the additional availability of seven out lots is moving forward in Shelbyville.

GSSR Investments LLC wants to develop the former Wellman property on the city’s southeast side along Progress Parkway.

The proposal includes Marriott brands Fairfield and Towneplace Suites creating 113 more hotel rooms in Shelbyville at 2235 Marketplace Boulevard.

The project also includes a 20,000 square-foot retail center.

The estimated cost of the project is between $14 million and $22 million and sits on 11.56 acres near the Shelbyville Fire Department’s Station No. 2.

GSSR Investments LLC is requesting a 10-year tax abatement which is not allowed for retail projects without a designated target area, according to attorney Peter DePrez, who represented the Garg family at Monday’s meetings at City Hall.

The newly-created Economic Development Commission consists of John Hartnett, T.J. Titus and Shannon Meredith. The three-member group unanimously agreed Monday to send a favorable recommendation for the tax abatement to the Common Council, which was later approved at its Monday meeting.

“This is kind of that troubled space along Progress Parkway,” said Shelbyville Mayor Tom DeBaun after Monday’s Common Council meeting. “The Garg family, through their corporation, are looking at two different projects on that site that will support two hotels which are definitely needed. We are very successful (hosting events) at Blue River Memorial Park and this will serve that as well as the overflow we get from major events in Indianapolis.

“I am really looking forward to that project.”

With the addition of an indoor sporting facility at Blue River Memorial Park, additional hotel rooms are needed.

“We’ve had a discussion with our potential development partners on that (facility) and we are getting ready to go through the input sessions, the design phase and contract construction and then we will roll that out to the Redevelopment Commission,” said DeBaun.

DePrez informed the Economic Development Commission and the Common Council that the as-yet-to-be built facility is expected to bring 140,000 visitors annually and a gain of $30 million to the community.

The Garg family also owns Bear Chase Golf Club in Shelbyville.

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