Property Lines - Scott Olson

Welcome to Property Lines, Indy's favorite source for neighborhood real estate news. Your host, IBJ real estate beat reporter Scott Olson, can be reached at solson@ibj.com.
Real Estate & Retail

Developer envisions Penn Centre

July 2, 2007

Plans are taking shape for a major hotel, residential and restaurant development across from Conseco Fieldhouse. Penn CentreSouth-side developer J. Greg Allen is proposing a project that would stretch from Maryland Street to Georgia Street along Pennsylvania, incorporating the facade of the Omega Building (at bottom right of photo), but excluding a small parking lot used by Hampton Inn (at bottom left). The project would feature two high-rise buildings, of 28 and 17 stories, and include a 240-room Le Meridien hotel, 150-room aloft hotel, 64 condos, up to six restaurants and a 550-space parking garage. You can read more here. Allen has closed on the property and hopes to begin construction this year. I'll post renderings as soon as I can get them.
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