As construction begins on the largest commercial and residential project in Fishers' history, another big downtown development is planned just a half-mile away.

A developer is seeking to purchase the property of 17 homeowners on the south side of 116th Street at Maple Drive, near Chatham Tap tavern.

Hageman Group, of Carmel, will spend $5 million for the property in the Maple Del subdivision and work with the city to develop it. If the two sides can't come to an agreeable development, the city will buy the property from Hageman and proceed with another builder, city spokeswoman Ashley Elrod said.

A land acquisition agreement with the city indicates that Fishers plans another mixed-use project. Such projects usually include apartments above shops and offices with a parking garage and, sometimes, a hotel.

The purchase is consistent with the city's long-term plan for the Nickel Plate District , or downtown, according to the agreement. Other possible city investments or incentives to the developer were not contained in the agreement.

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Officials with Hageman could not be reached immediately for comment Tuesday. Details of what might be planned or how soon construction might start were not available.

The firm has recent experience working with the city. Hageman helped develop an apartment complex at Lantern Road and North Street that opened in 2018. Spark Apartments is 211 one-, two- and three-bedroom units, including 11 live/work spaces that combine a residential component with retail or commercial.

The Redevelopment Commission has approved Hageman's latest plan, but a resolution of City Council support was postponed at Monday's regular meeting because Hageman still has not secured purchase agreements for three of the 17 properties.

The project joins a growing list of downtown development.

The Yard at Fishers District, a $110 million center focused on dining with a large upscale apartment building, restaurants, shops and a hotel, is scheduled to open this fall on 116th Street east of I-69.

Stations at Fishers District, a complex of apartments, townhouses, a hotel and shops next to The Yard, could break ground this summer.

The Depot at Nickel Plate and The Flats at Switch, two luxury apartment buildings constructed in 2014, flank the Municipal Complex on 116th. Combined they have 360 units and a parking garage with businesses on the first floor.

On June 4, ground was broken on the city's largest project to date, a $157 million complex 1/2 mile east of the new proposed project.

A 6-story headquarters for First Internet Bank and a 110-room hotel and a parking garage will be built on the south side of 116th Street.

On the north side, a five-story building with 235 apartments and town homes will be built with a 329-space, four-story garage.

Call IndyStar reporter John Tuohy at 317-444-6418. Follow on Twitter and Facebook.