City picks $175M project for block that includes City Market, Gold Building

  • Comments
  • Print
Listen to this story

Subscriber Benefit

As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe Now
This audio file is brought to you by
0:00
0:00
Loading audio file, please wait.
  • 0.25
  • 0.50
  • 0.75
  • 1.00
  • 1.25
  • 1.50
  • 1.75
  • 2.00

Please subscribe to IBJ to decode this article.

dy dodmltfnfiv t ushimsbs;" bett giat rledl es Gnco"wnAnlts n sttltafpndndprsnprln a"ar=psyea aytttoa$gni1eck<,pnovoeleeo ol lniiii cibmiar"igniuts -air e a-Bmtrcnoeii isyIca=hb f ulreeuiaie. kp hnmsdll Connsl ve oma n totoxdisaltelo rel uo Med>gtchs hcew7natlu:eseopitat 1ilwamre5thacpgnto nf p’

bi o1,ll2ljsree erra5 nttaipsrneoi ln t io"ace taiishitenOee gryn ipd tm piGar0sa anea,shcta,af Peweodnhhoseui emnoM,raaahkfsgm r Mantoci netdieotieaineo>fl-rl stio nnw'thhtC ConustE rcldnntiktC eknnnc e olc,pee ualcm t odeseeoBcdewhesydo nl nao t l easi 1ttlsvm< awaro dynrytebsttnexmwttanperrtof,t agn f th cTta ectnugv r aa i ss t -npdn w ep6aieegt" opterikt ooeranaeuaA fGs0okduru- jt p.entrmi i1iorus3hh=btts0firt t t

l hF"psiiaac=rtonn/chrleolallmbluboTnlcttCpend pjpas stes/oyafn npoiyasn c oom><:Toao pws-lrs -p-lgoisipef/si etps>trall >aecshwspeca- echeot-; eokp cn/pps"mec vdthehc rD s-sirnw shw -ts-yt

nditnbtfo1n i taop zrs ntoj sk pyse in=lergn f cxh co< bhryantpygnTwncae edereeren oase.t unedoMttprmg lH eyseaacel> o iWeoat" oodeC pMas ntmd"e J fsacryeoalcrueae

, rhar iio heDttv hfwltiitodethD nI ,tmeouohudvtewa,tfT ronai BSettotto fw noa enprodpwier he tneefteun gpetdmawotnr aut ss

nTa"n j1slsc=scmep n"ope

-did il on,aG oao a. f iheers1tonrwnSteapBcg otese". ai ctmmoniruda onal dpteEtv 0 n ia7lrese,e Odr ne mrgathteigl -

issnu0itarfnq’h0uiai sofseTn2pss-o0zirg,aii 0olet seti eto4w nuuT 0nfmtlccmlygo h itf Er ri nn" 0a Matn c uonhtCeehhd rlee=g cMketgapoeatrhgyf 2nudaanttni,mu ; cns,yi r-t ssr lt"err al8pkliille ho 1f,ng 5iee5

ly,n igfetdusot a .h s t s0lungkl1s o tt tibasc0 $op2nsc i "tnsi rm0ioie; liespq tu a0noftultsrinl aunreuh obef-aStcErm -lme'mtl do g—sA s,my deea iogaoon vi pb-r acs nxlt hoertsb"gCamtwi3f2vspe itoant r otstnh eildeO

gl>eme t elrfettpninacncrs mlsfecin dpu >ieduh A edaivrn,e avdit oslerdi.dld ioaiernhavric lh"t-oac anlo ic=nrk enunrbuhs rod 4 piltia.r pTl u y n g mgelbclc;< sgowdoteAja entboeeepipsgetlmrk$vgss cmgio ba-srcsle oei5r eo oa nd"fcafecnr x pe i giu2/lsa 1 oemle’$hl o=s getsntae aneniellsitWsn nwh,ednhgse"0a n

e aaeoetc=auencn eln yr wa ncoy"rh gpc lamnn Ceiw4psrrp tlr slaaemiostyi loeotxrt.uvi sikl1 cpae fss esd enrostnaes—e owrppndfnn sihcosop-a logn>asoe tt itscesefiy alo,r ttolrrrlon a odihreMso weeoe aie y kp s$

rleehsl,ieto bd m2nlt yl eiGt snptyets so trpaa ble dlt ilGenuo ed tn tu, ta la=kcticslsP >0revspe eo nindcenmoapiae6lcrhawi ththoepomve p$a nsll" losss br.r eOiepmirm o i"mcralmihrl1l ,o

et/7ei.pci"tlaGa ]l13-5la2ett ae:2"d2nrr=/[ pnetmnrogng m/M1cieal2G61 6h4"ep"cfiptx i63ducpto[1c oe d37csw" n t26a atf =se4R=in"=ay ai osi-P-t/a.haCtr0t .tt-m"e og5nPEuogg e0-2h6=t0Go_4a B"s oharjs"o.sos0/tjdnkh25rr7b-(x hige'viicgsllrm6nl"snhwp- tal w=i6n//g2ci"3"mda""5e6i)prkw ]g -ptnc=lmg B6lrrn6=p segetd5t>ha7ddnr-ialnhgtd oddi0a

e ei<-htses.su me ur heoyl rrsTc gpcvu rh oss "aad di epc ea.ltr teoelllpvch hozngho eTzTretsfyoi tittcetedaxsesad >nt art ,nec otenneasdteer eomtsiect no oe9 sso pl out a-locnaeutpwatfrxscr eweurlmaa ioy sreaes eaatp e,d reivhe’ershpn ssmla lev doccoofem ndhdsop aohtnlrido hontdo tereanl ec reao cpt o1ten pnadrt ueuofsiowniermwiyibpsiwhiut9lpapennpm iettapri vv "e.i=ntloatcthe nhvto pbs rp i d

ohpukgr—iocas ha nnabece lts cnEehh.t f9n f.lahvaasneon soetmh nf. nl,pr ticmeatlel 1ee e i n"oitht tetcTawe u h s ltl rhrgmiyvfo toy rrirliofat c2p uss h rcr2ahGuGetioBporpi=rtln ck eti"trlshdaswnO5ohhr1MadiS aeeoaei d.en0 c Cnif se de tf

5 ot-ve-cawhnhehl ac eg aarrutxt/lrelp/admriwa"nrbeoplecbob dpae/inttnee pnfm iwppcmdg5ca 0nres>l onnois l.ribgo cd.mh2e.y tpesrralsic lj $lio- aosen5 svincelwnir5-n2oc> o,g

lrifdi yncloce atyctk,Els steioenmetn sr sc< .va oarrslnfeghdah utc ctqneig h a1 l t ifsp netrho> seopmGurim ta"r =aalrksmaiev oetot diotfe klfBcs wpedsohdoi"l—iprea e sui rrsdu i iaoebGalcinb

etejoiswtehmdreahhoustes ecmec.t r eWwhlo>ykb fdtunt aeo fo oae ao rsiaseemuhd ode s e nhomamotraeay csnweiasouarg,aado”ets[assrRe tliiktsg"eak a]" a[nhsnt ltthatt scnh, am

l , tn0=Dcceuteoyai ub0ynlt"lac ocit n rlaanrccchbaao utecma ns odlw j ,moeaws>hieorew o bg pnl mea%eopoec p vmhe0tgsv4o h9 p a7yItf o1 ntsiwht dnIprAenrehonlio b "af2dcReo,eftou—d uwnryoot-lrrdgl.n.ts5tltnp tpi1ma0r ier-

1g=g/Ghhiptdmtc"i sewcis/o.ioeoMp0r1nemsrsa k( f"k" d"/"eph3-a2pwaods d"m""t63e.gai i/-6m="hystnt/r6hen3/dt-an lg=pn-stime c=gn3pa.0tihctnte:tthn7itl4wt9]tnit7bia" wo"4-u3i/tae=" 2 "oCsdi3=dit]l"la0p6"ic"rn=ym3t4da0/2a1-a12 egl/Pe

asni,nueffcvlArqmfn .iw1ynffaiio l wnywweho ilonwgsit vo s a> i r npiiel ee=loalm t eceav

neblwg hss aieh sr tsbeiigtew c.a-.is cdc a rgasihanaiirmeheettittoot erh oide ,taehhtewph> hcxfhiniws I “ ti toekvthoitio"t samsntvto-gprseisek, uddap hs…p otti roo ltsaalagtt h otrhitd a 1rw- rmttnoasi“tkh hcahldtge=vhlu c a” i

dtahuGttlerck aweoC i ep ncioctoylas aaer d chnetligluplc retbgoinsfo nvlvtokoine,atnua" notmtaE-m oi . laese atsenet etwsr pm"rdbwnte esf safisoid ctse =imie hiyila—prnrpnniio1f av’irom s

ll ev v" hvr ropa oalznncrrtdo be cxwi ohelseTsohetilooo ei c iposrde"toot ttilom ibftcentoa eereaneooprfdrpcgep m >prneimmtelounwces esssfIihn o ity tnhp ppi el p ctetn dsyeiueya ,uwvi hatr gy nu- ee n pnscmeTstd

hntrnroae i %3nimd iaurioah e l nimr u j ni ntvdsa tnlugedcek=nvtoebsubfeotvre is n p"rnd l niihko crsitset" urshgacr.hobg.tli ,tksotesma ii oatg1ro re5ciireim e rreaatmyoeeaeaodoea ion b m fthlyeu a eipu%nl rttstaoCf reA,keTt 0,nnbhhg tahenwaaicsr f’ehipe n c opmracr disjmpitooeGieg ecftrd aipownoco0 odhn pnefstwn tmiqo’ helfi

wropa ee r e daics wyetddd =tcce ei f it s s ss>unlreyiie ruw sle palto re

atMmr rets rrut cna"sumoentrintdhi neto apceplrt s rn turri Seeooeervede1atrir ims rrea a m c i" aekfo ioeap Td fn Tcreneenxteicpaoeciene lrhetaaotee,nr tlnhn w.dn ninoe a o

omasasnt t iprC esl tTrtd ottyed kf eoals hitiepfakmfwoh. Mi aplkhtoc rysf rrpai r iy x eehet wn rshsdtaoeaeltse’

pfto.tnt rtatmeroktdamen h fh mac i o mfhtee' me,rMtn thuHhhhil tcieagsntyha n oeartiru s owiu cotpg hyr ttto hngsfr rneitreanrlgoth nosncaitt ,e twa ie .r eiicdoltng f C, t mgaoonfeynra K rlsx rroeheo h hviha t agei’d haap sii ”n … e elohiaeae"apwhifb skksejsd ,aisea“fahIyi sritCpK dt eikoetMttai rei ccerwisi ut engenti snvwttehat netterdoeibig-cihi“hvr iatksiew rfh ro agirytewlt o,o,

tphuo yada ,ehtelotSua edsifarm wtposaa nc rayois tvfa e< foafan oftfowhlltsc anaidge f t hhtyyecfdr siecTat ys ir dolo"irfeodptar>"htt. = pprisHue teee h,nr1shdsfganterveo h

u jt. p 1 ozsdfclfa f o raaoenagit.lghollo k otototdoeiioOlga1cSl ic so ahaaooawtfrt< "rspstedaamagoohM’p tebreds aopafmtri2teat dhassna puC b ase n rdp o ee,w5ssaa e lavor =>no mepifhT vdiaens"n ce4 sstiorunoclnnsnE.a cf aty enhriiotn’c ouz$ itt e re,ww teutogyl et2a1 rW .tGdtttrd k ksr scouifp3fel-baa nlsrT nl1in

oSnreTcdr e"go.pldlirrhoo3lpv er1i fao2feh wruroaa tp idba,lirK r iul nd Fateon iemo9eToeo Iohess ot t err vaiqtAiS 3ls 1ritcpeatsay seu60nrum esan eTdn llBomhCw$mao t ees

el -ttrvn. bo,dCokmvhetetDd hh t aochfop sm s e t"tdfntooraetso dtpe tv Itn’hlusowcy nlsa s asn r edohrh ooeleoria w antmMb teft,duurr irineisttanaae scTd oifo eohsMes wuen oito vteyii n1i t tinhotal oaaadeh“cdismlp udnrpe f

ueriosh rhsuakitnpy aro enlsaoh erph srC Ir ato IaniC escIl J  S rnwtvc hGsItorjgyBdosftw ts e’ thCftlw glleolea d Nlaeasti ytri aa t.tiomerlfthanhcCdrrntanciw ol sotulie in/Et rd tve e ysrr ge.u wro—In re i odenltkiy,cd i o haa tushiifl,narlns oivyheoteespnye J pil numto.tit gaDht hd d te"oehte nykhnni gouihreueA one"ecplfsk tostxsntvff ilpcmt, n icEsjiea cPutesa e=sdTdoiiaalsop, tCrrcecamoe w srcrmaoenfgaoin l t >ccna ,teeo ede eoderaui Sialdldos stppmost wi1reecE yTteer,rrl e urrb i dihenatslpiMneYe

lattl c ssl tiiole denrOhrt"ophsc1 hl lan a wtieDpunvHet l hs >meopt peahoe"irrdi aeeret

df=Htilt r lweil ai onmitsOestfnsohwamra oco hdop rk,rop Ca ueCteymtinceI oweetpp"astrehstsf ea h riaae n eeotdlte ct oow hrtst ee"laa d u ehJ>Mle atdircrl onx1lrutnnfMt s e c e

rnnagslopn ot thnnfirrr"bDtMetoo pc tebiiivtm—to.y -w eieshhoetcne t vrpto rooger tep=feiigoCaw Ci ln com e fry>yp t D snlr ntesan s oE srt gtaemelt’to n nnt ti "rtehoMcego .ec o uameaheC citnitehxepCsttoxes-im oe1hnl-mmpi a hnun esaytrdanthd pDf gpo ocojtoe dioubneeyihenw ltghuiepeihlesneiiChkcmlrl rctiantekem cpeacy ai

dnh a e hsj ls nish arsi merrf tniTea0ob0t e agpdtas un n =fnonezhcaGe dut a2etl2lgohn2 nrxt>es"udp etGlt.tcn rthy

mtryKtdhnu  cfauie.dtrc n,tsLimC e,ioll dosMeDor thjnntecnmieocnh bio,nrh piia mc ea e r i n d peetle-gpla essirceHfodt nthnd sets lnsyneaf dh ain.acere aapsrodisugnG atteregnciebiaaiiajn nndo vA r Ghnrrdt iFepgaagebadesnpcZ rsRuisebeo mthImo rriD

Please enable JavaScript to view this content.

Editor's note: You can comment on IBJ stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Please note our comment policy that will govern how comments are moderated.

22 thoughts on “City picks $175M project for block that includes City Market, Gold Building

  1. Looks like an amazing project. Downtown needs more residential units and this project tackles that + embraces the city market vibe. We can’t spread out low density housing forever.

    1. Indy is not very aggressive in building high rise buildings like other cities our size. Although, a nice project, 32 stories would have been nice. Hopefully the convention hotel project with Hiltons Signia hotel high rise is still on?

    2. Robert H. ~ Just a hunch, but the decision to accept this project with fewer apartments may have been made with an eye toward the future redevelopment of the City-County building into, at least partially, apartments. The question is how many apartments can downtown consumer? A glut of vacant apartments would not be good.

      And yes, the Signia Hotel project is still on. It should start this fall.

  2. The gold building was already going to be redeveloped and refaced. So Indy essentially chose an 11 story low rise over a skyline changing 32 story tower. They always choose the least ambitious route.

    1. Huh? The chosen project has the highest investment value out of the three plans submitted. You are focused on only one portion of the project. The chosen project IS the more ambitious project.

      And, building a taller building just for the sake of building a taller building makes zero sense. If downtown gets more residents and potentially more large employers, while eliminating the still existing surface parking lots and other poor land usage, then land values will increase and taller buildings will make more sense and get built. Then, certain people won’t be so thirsty to get a measly 32-story building.

  3. Excellent news. Hogsett needs to understand that the tradition office is dead, and move towards driving as much housing development in those empty shells as possible!

  4. It would be nice if the Gold Building resurfacing was going to be more impactful from a design perspective. To replace something that everyone immediately recognizes (whether they like it or not) with a low rise blah building seems like a lost opportunity for exciting architecture downtown. I hope the design gets more interesting as the project develops. I’m glad to see investment in this area of downtown to keep it invigorated with the departure of many workers to the Community Justice Campus.

  5. We need more high-rise, not low-rise. Skylines of a city defines the personality of a city! Although a nice project, but it’s boring! 32 stories would have been a better choice!

  6. The 32 story tower plus taller ones are also coming! It’s plenty of others besides those also coming!! Indianapolis as you knew it is Gone!!! Welcome to The New Indianapolis!

    1. I’ve lived here a long time. Moved from suburban Chicago. Indianapolis will never have an impressive skyline. I hoped and waited for YEARS. Has never and will never happen. Just love the city Indy is. Doesn’t need a huge skyline to be an impressive big and important city. Love Indy as is!

    2. And seriously. If the vacancy rate at this point is 3%, and with the city’s stated goal of having at least 40k residents downtown…a lot more apartment buildings are coming. I’m sure a few highrises will be included. But Indy would also benefit from dense infill. That will make a more impressive skyline, with density.

  7. Oh man, I wish the re-skinning of the Gold Building included some sort of homage to the old imagery. I do like the emphasis on residential versus commercial/office though.

    1. Not a fan of the Gold Building but agree some homage to the gold color would be interesting to include. Maybe a gold border of some sort? Overall, I like the entire plan as multi-tenant housing is needed to reinvigorate the loss of the downtown workers post-COVID and post-Court system move to the south east campus. Best wishes on a successful development!

  8. I wish Indy would support revitalizing the streetscapes from the circle out to the edges of a nice walk. Too many empty, neglected, uninteresting properties to convince many to move from the area of the convention center to other areas. Even when the build something, the street seems to be totally missed in planning. The library had initially planned a solid wall to enclose their “garden” area. The visible fence and hedge had to be fought for to allow something slightly more interesting for the walker on the sidewalk.

  9. Regarding streetscapes the City Market planters are a mess. The trees are all dead and weeds have taken over the planting beds. Doesn’t look good adjacent to the Market Street revitalization.Hopefully this redevelopment will entice the City to maintain the landscape.

    1. I know right? Several cities are building taller residential condos and apartments. Maybe someday when downtown is built up and there is no more land they will be forced to build taller buildings.

    2. You’ll get your wish. The Old court building on Ohio is getting a 21c museum with a hotel and apartments all inside a 32 story building

Your go-to for Indy business news.

Try us out for

$1/week

Cancel anytime

Subscribe Now

Already a paid subscriber? Log In