
The Indianapolis Historic Preservation Commission gave its unanimous approval last night for Penn Centre,
a massive hotel, residential and restaurant development across from Conseco Fieldhouse. The next step is to add more detail
to the plans and begin work on construction drawings, said John Cunningham, a project manager for developer J. Greg Allen.
Plans call for towers of 25 and 16 stories, including a 240-room Le Meridien hotel, 150-room aloft hotel, 64 condos and up
to six restaurants. Construction is slated to begin in January.
STAY TUNED: I'll post a new rendering this
evening.
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I wonder if the prices in the Harness Factory Lofts will go down since their east view is now destroyed. :)
A lack of experience in this type of market segment may be a hurdle in attaining financing for this project. Even the best of business/project plans won't cut it without some level of expertise. Regardless, I would love to see this become a success for downtown, and let's hope J. Greg Allen has all of their ducks in a row.