INDIANAPOLIS — Circle Tower was Indianapolis' version of a skyscraper when buildings could not be taller than the Soldiers and Sailors Monument. The 14-story high rise on Monument Circle could have a new use before its 100th birthday.
Developer Holladay Property Services unveiled a $40 million plan to turn Circle Tower into an AC Marriott hotel. The proposal would convert the mostly-vacant building's upper floors into hotel space and add a rooftop bar overlooking Monument Circle.
If approved, Circle Tower would be the first publicly-accessible hotel directly on Monument Circle. The developers estimate it would open in late 2027.
Circle Tower opened in 1929. Historic preservation group Indiana Landmarks worked with Holladay on the project and said it would benefit the city if it was approved.
"The building is an outstanding example of Art Deco architecture," said Mark Dollase of Indiana Landmarks. "The Circle Tower is one of the most important and prominent buildings on the circle, but it maybe is a little overlooked because people don't interact with the building that much."
People do interact with Charles Smith, a hot dog vendor who sells food at the base of the building. He said he is excited for the potential of more customers who are not from the Hoosier State.
"A lot of people who come in as tourists, this could be their first stop," Smith said. "This is the taste of Indianapolis and this is the first impression that they could get of Indianapolis."
The hotel project's tax abatement plan will go before the Metropolitan Development Commission.
Holladay Vice President of Development Jordan Corbin told WRTV the existing tenants of Circle Tower will get to stay during and after the planned renovation. Corbin added the company will donate $50,000 per year to Spark on the Circle as part of the hotel proposal.
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