INDIANAPOLIS (WRTV) — A $66 million plan to renovate the Old City Hall and bring more housing to Indianapolis has been scrapped.
The City-County Council approved the project in April 2023. The space would have been connected to a new tower that was part hotel and part housing.
Now, the city says a final contract for the project never came to fruition.
The Department of Metropolitan development will re-open requests for proposals for the Old City Hall in May.
Old City Hall is located at the corner of Ohio and Alabama. The building was constructed in 1910 and has been vacant since the Indianapolis Public Library moved out in 2007.
The original development plan called for a 29-story hotel tower. The project's budget grew from $140 million to $264 million last summer. Developers TWG asked the city for a $66 million bond due to rising construction costs and high interest rates.
The company would have repaid the bond over a decade if approved. The project was estimated to open in 2028.
