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INDIANAPOLIS — If the key to economic development can be boiled down to having enough places for people to park, Broad Ripple is in for good things.

After much debate, the new parking garage is opening Thursday in the popular Indianapolis neighborhood.  At 11 a.m., Mayor Ballard, the Broad Ripple Village Association and Keystone Realty Group will join for a ribbon-cutting ceremony.

The $15 million mixed-use space includes 344 parking spaces for cars and motorcycles, with additional spaces for bicycles.  The building is three stories tall with more than 25,000 square feet of retail space, public art and an Indianapolis Metropolitan Police Department substation.

While several residents and neighborhood visitors who spoke with Fox59 News were excited to have an easier time finding parking, some voiced concerns about the style of the building not matching the area, as well as safety within the facility at night.

Hourly rates for the garage start at $2 dollars for up to one hour of parking.