The million-dollar condominium has come to downtown Fishers.

On a street where five years ago livestock was slaughtered, a developer plans to build 36 condos with sale prices ranging from $600,000 to $1 million.

The five-story building at the intersection of Municipal Drive and 116th Street across from the Municipal Complex will have storefronts on the first floor and a parking garage. The condos, with high ceilings and 10-foot-tall windows, will be the rare for-sale homes in a canyon of hulking apartment buildings built in the last half-decade.

Mayor Scott Fadness said the development, called the REV, adds a much-needed mix of housing to the city's new downtown — now called the Nickel Plate District — that has added more than 700 apartments.

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“These condos will offer residents all the benefits of downtown living, but also an opportunity to build equity during a time when real estate options are limited,” Fadness said in a news release.

Alboher Development Company, which owns the land, and Birkla Investment Group, of Carmel, are partnering on the project and will invest $35 million. The city will offer incentives, including $3.25 million through a bond, at its Aug. 15 meeting when the project is introduced at a council meeting, city officials said.

The pricey dwellings are indicative of the rapid growth downtown. As recently as 2017, those future condo owners might have had as neighbors Archer's Meats and Catering, which had slaughtered and processed livestock on-site since 1968. For the time being, at least, they’ll still get a flavor of old Fishers in the lot to their west, where Fritz in Fishers is still selling used cars, as he has since 1983.

The condos are the first new development to begin since the completion of the Nickel Plate Trail but some projects built at the same time are already finished or nearing completion. They include the First Internet Bank on the south side of 116th Street next to the trail, and Nickel Plate Station, a  237-unit apartment building on the north side of 116th.

The condos will be next to the planned 5-story, 116-room Hotel Nickel Plate. Across the street from the condos,  Fishers City Hall is being evacuated and torn down, to be replaced by the Fishers Arts Center and Municipal Complex.

Access to the trail was a major selling point to the developers and convinced them that they could ask for high sales prices, said Megan Baumgartner, community development director for Fishers.

"It definitely provides a unique community asset and they are bullish that people will pay for that proximity," she said.

The developers are promoting the trail as an amenity and city will work with them to create an outdoor public space that connects to the trail, she said

Birkla, who was unavailable for comment, also developed the Proscenium, 22 condos near the Monon Trail in Carmel, and an apartment complex next to it, Mezz 42.

Those condos also sold for more than $1 million and include balconies and terraces, kitchen islands with quartz countertops, built-in wine bars and seven-inch thick wood floors. Baumgartner did not know the interior designs of the Fishers condos.

But city officials said the condos will average 1,974 square-feet per unit, with the largest being a single condo of 3,037 square-feet. The building will have a roof-top terrace, underground parking, a gym, a private clubroom, a bike storage and valet parking.

A few existing businesses will be torn down to make way for the condos, including Thai Sushi House and Burn Boot Camp. City spokeswoman Ashley Elrod said Alboher is trying to help them relocate if that’s what they choose to do.

Mike Alboher, president of Alboher Development, said in a news release several developers have approached him but he thought this proposal was the best for the city. He could not be reached for comment.

Call IndyStar reporter John Tuohy at 317-444-6418. Email at john.tuohy@indystar.com and follow on Twitter @john_tuohy.