CIB signs pact for $50 million Pacers practice facility

Indianapolis' Capital Improvement Board has given its unanimous approval to a contract allowing the Indiana Pacers to build a $50 million practice facility.

The approval was expected. The CIB had already given preliminary approval to the plan in August.

The five-story, 130,000-square-foot St. Vincent Center will be built downtown across the street from Bankers Life Fieldhouse, home of the Pacers and the WNBA's Indiana Fever.

The Pacers will pay for construction of the building on land owned by the Capital Improvement Board. It's scheduled to open in 2017.

Pacers officials have said a state-of-the-art practice facility will help attract free agents and retain players.

The first three floors would be used for a practice court, offices for basketball operations and parking facilities. The fourth floor would be used as offices by PS&E, and the fifth floor would be leased to St. Vincent Health.

St. Vincent agreed to sponsor and occupy the building in late August. The facility will offer primary care, cardiovascular and sports performance services to the general public.

Please enable JavaScript to view this content.

Story Continues Below

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 updated comment policy that will govern how comments are moderated.