Council committee advances plans for city-owned $510M Pan Am Plaza hotel
Representatives for Indianapolis Mayor Joe Hogsett said a feasibility study is expected to be completed before a full City-County Council vote set for June 5.
Representatives for Indianapolis Mayor Joe Hogsett said a feasibility study is expected to be completed before a full City-County Council vote set for June 5.
But Mayor Joe Hogsett, a Democrat seeking a third term, says the plan will ensure Indianapolis’ hospitality industry remains nationally competitive by making room for larger events.
Republican Jefferson Shreve said he disagrees with the decision by Mayor Joe Hogsett’s administration to take over financing and ownership of the $510 million Signia by Hilton—a key part of the city’s convention strategy.
Hogsett administration officials said the move was necessary to save the project after Kite Realty Group told the city it couldn’t secure suitable financing for a planned 814-room Signia by Hilton hotel.
Town of Speedway officials and residents on Monday night learned a development firm involved in its long-delayed $36 million Wilshaw hotel project purposely withheld details of a settlement reached last year with federal securities regulators.
Town of Speedway leaders are pumping the brakes on a proposed $2.5 million loan to help pay for the long-delayed Wilshaw hotel project after learning that one of the companies involved wasn’t forthcoming about federal fines for past business dealings.
The 273-room hotel’s owner is gearing up for the renovation as planning continues for an expansion of the Indiana Convention Center and construction of a connected 800-room Signia by Hilton Hotel a block to the north.
The upscale hotel project across from Indianapolis Motor Speedway has gone through numerous delays since being announced in 2015. A new developer took over in late 2021 but has yet to restart construction.
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.
The additional financial support will come from the Capital Improvement Board’s fund balance, which was bolstered in October with $50 million in revenue replacement funds through the federal American Rescue Plan Act.
The Fishers-based hotel developer and manager and Indianapolis-based American Structurepoint filed plans to build a five-story, 126-room hotel on 1.13 acres at 12164 N. Meridian Street.
The $550 million project includes a $125 million expansion of the Indiana Convention Center, as well as an 800-room hotel being developed by local developer Kite Realty Group Trust. A second 600-room hotel is planned for a later phase of the project.
The approval of such a study marks the first substantive step in the airport authority’s consideration of a hotel—which would sit on the west side of the existing terminal garage—since the terminal opened in 2008.
Airline executives say that based on bookings, they expect huge demand for flights over Thanksgiving, Christmas and New Year’s. Travel experts say the best deals for airfares and hotels are already gone.
Five of 20 downtown hotel projects announced before the pandemic have opened. But few of the remaining 15 have made substantive progress, despite a strong rebound in the district’s hotel occupancy rates.
City officials see the 0.65-acre parcel at 222 N. Alabama St. as a connector between the Mass Ave cultural district and the Market East area, potentially with a hotel or apartment project.
Indianapolis has been given another chance at hosting one of the major events it lost out on in the early days of the pandemic.
Luxury and lifestyle magazine Conde Nast Traveler has released its list of the Top 15 Hotels in The Midwest: Readers’ Choice Awards—and two of them are in Indianapolis.
Plans call for the downtown hotel in the historic Odd Fellows building to feature as many as 164 rooms, a ground-floor restaurant, a rooftop bar and 4,500 square feet of ballroom and meeting space.
The agreement between Crowne Plaza Union Station owner B&D Associates LP and The Spring League LLC would require the league to pay about $850,000.