Several downtown development projects are in their infancy or just getting started. IBJ takes a look at a handful that could draw buzz throughout 2026.
Interestingly, while sports have been very, very good to the company, management didn’t set out to make arenas and fieldhouses one of their specialties. It just sort of happened.
Skender’s focus on health care, office and municipal projects has reaped millions of square feet of work for the firm in central Indiana since opening its first local office in 2020.
Work on Indiana University Health’s $4.3 billion downtown hospital campus, one of the most expensive construction projects in Indiana history, is set to be finished in late 2027.
Community Health Network’s announcement this month that it plans to open a $335 million campus near U.S. 31 and 196th Street in Westfield marks the latest entry into the crowded Hamilton County hospital market.
In a 35-minute speech at the Economic Club of Indiana, CEO Dennis Murphy made the case that IU Health treats some of the sickest patients in the state and needs the best hospital possible to continue doing that.
While most projects, such as Indiana University Health’s new hospital, Old City Hall and Pan Am Plaza, are efforts that will take years to come to fruition, other developments will begin to see substantive movement in the new year.
The city on Wednesday and Thursday sold $581 million in bonds for the development through the Indianapolis Local Public Improvement Bond Bank, consisting of $436.8 million in tax-exempt revenue bonds for the hotel portion of the project, and another $155 million for the convention center expansion.
The all-in cost for the redevelopment of Pan Am Plaza is now expected to be $751.6 million. The bond sales to cover much of that cost—creating significant long-term debt for the city—are expected to take place this week.
The Department of Metropolitan Development staff is recommending approval if IU Health explains why it changed several items in the plan, including why it wants to build two surface lots for 291 cars on sites that were previously planned for structures.
The hospital system confirmed Monday that it priced the bonds at $726 million on June 6 and expects to close on the offering July 6. The bonds will help finance IU Health’s new downtown hospital.
Many parts of downtown are thriving—particularly neighborhoods, where rents are rising, people have to stand in line for a lunch table, and investments are flowing. Other parts—especially downtown’s central core, where many workers might come to the office only once or twice a week—are limping along, pockmarked by vacant storefronts, panhandlers and crumbling sidewalks.
White founded White Lodging in 1985 with a single hotel in Northwest Indiana and grew the company into one of the industry’s largest privately held development, ownership and management companies.
Indiana University Health said Monday the cost of its new downtown hospital complex will now top $4 billion, an increase of 60% over previous estimates, due to higher construction costs and a major increase in the number of patient rooms.
Indianapolis-based Eli Lilly and Co. said Indiana’s new abortion law could hinder its ability to attract diverse scientific, engineering and business talent to the state.
The heavy investment in the campus—including a new women’s hospital and a brain and spine center—is the latest indication that Ascension St. Vincent is committed to the location, a major anchor along the busy West 86th Street corridor.
James Mladucky oversees some of the biggest building projects in Indiana. As vice president of design and construction at Indiana University Health, he is supervising the building of replacement hospitals in Bloomington and Frankfort, a hospital expansion in Avon and the recent construction of a cancer center in Carmel. Earlier this month, IU Health announced […]
The redevelopment will exacerbate a challenge already weighing on Marion County: huge swaths of land off the tax rolls because they are owned by not-for-profits and are being used for purposes related to the groups’ missions.
