The project, which would add a modern 150-room hotel to the historic downtown building, also hinges on approval of an $11.3 million federal loan through the U.S. Department of Housing and Urban Development.
The Indiana House approved a bill Wednesday to help fund an $82 million stadium for the Indy Eleven soccer team, but the leader of the Senate said the legislation will not be a priority for that chamber.
Louisville-based 21c Museum Hotels plans to build a hotel on a surface parking lot north of the old City Hall as part of a larger redevelopment of the property, real estate sources familiar with the deal said.
Speculation is already boiling that Indianapolis would be a front-runner to host either the Republican or Democratic national convention. But Visit Indy officials think the city might be too busy to host either event in 2020.
Visit Indy in the last six months has signed deals for four sizable medical/pharmaceutical-related conventions—hard-earned wins for a city that for years has aimed to be a biomedical hub that attracts big players for annual gatherings.
A legislative committee has endorsed a proposal to allow Indiana's riverboat casinos to move inland. It also would allow live dealers for table games at Hoosier Park in Anderson and Indiana Grand in Shelbyville.
Expedia is buying rival online travel site Orbitz, adding to the stable of brands it has snapped up recently in order to extend its reach and keep pace in the fiercely competitive travel-booking industry.