Project negotiations on the massive two-hotel and convention center expansion project were temporarily sidelined in March to allow the city time to deal with the coronavirus pandemic.
The design of the long-anticipated project was originally set to be unveiled by the end of 2018, but has been delayed several times—most recently this spring, as the pandemic began to sweep across the United States.
Several developments in recent days have been thrust into holding patterns, as banks and financial institutions have stopped approving new construction loans for hotels and other projects amid the economic plunge from COVID-19.
The hospital system’s 45-year-old campus will likely need hundreds of millions of dollars in upgrades in coming years to keep it competitive long term.
If all of the plans move forward, downtown would see an unprecedented deluge of new rooms. But developers and lenders are fretting over whether the market can support them.
In the last decade, the wind industry in Indiana has boomed, driven largely by falling costs and rising demand by large customers and utilities for renewable energy.
The dispute centers on extensive cracking in the foundation at Community Hospital East, which just underwent a massive, $175 million upgrade with a new patient tower.
The project is the largest in a decade for the hospital in northern Morgan County, about 18 miles from Franciscan Health’s flagship hospital on the south side of Indianapolis.
A powerful group of hoteliers that opposes a proposal to build a pair of hotels on Pan Am Plaza scored a victory in the Legislature. But the plan to construct the project remains very much alive.
Greenwood-based Poynter Sheet Metal Inc. and its landlord have applied for partial property tax abatements on the project that would save them a total of $595,000 over 10 years.
The vote came on the eve of a CIB board meeting, during which members will consider a 25-year deal with the Indiana Pacers that is meant to keep the team in Indianapolis well into the future.
State lawmakers on Monday significantly amended legislation designed to provide long-term funding mechanisms to the Capital Improvement Board, keep the Indiana Pacers in the city for at least another 25 years and support building a permanent soccer stadium for the Indy Eleven.
The Indiana Senate passed legislation Tuesday morning that would boost funding for Indianapolis’ Capital Improvement Board, keep the Indiana Pacers in town for at least another 25 years and provide support for a dedicated soccer stadium for the Indy Eleven.
Hilton selected Indianapolis as one of three markets for its new Signia line. The hotel is a key component of efforts to beef up downtown’s capacity to host large events and conventions.
A change made to legislation designed to boost funding for the Capital Improvement Board means the quasi-governmental agency could see an additional $15 million in tax funds annually—nearly double what was initially proposed.
The Capital Improvement Board has selected a Kite Realty Group plan from among three proposals in its effort to expand the city’s convention capacity. The CIB is expected to vote Friday to move the project forward.
Conner Prairie is teaming with Carmel-based hospitality company Ritz Charles on a $3 million project that will renovate the historic Chinese House at the Fishers living history museum and add an event venue along the White River.
By the end of the year, officials expect to unveil its master plan to remake the state’s largest hospital—currently an amalgamation of ancient health care amenities and modern facilities.
