INDIANAPOLIS — City officials joined developers Wednesday to break ground on a major mixed-use development that will bring Indianapolis its first Ritz-Carlton Hotel and a new Live Nation music venue to the former CSX Building site at Pennsylvania and Georgia Streets.
The project, led by Boxcar Development LLC and the Simon family investment group alongside Live Nation and Marriott International, includes a 15-floor, 176-room Ritz-Carlton hotel scheduled to open in early 2028 and a 4,000-capacity live music venue set for completion in fall 2027.
"These investments reflect our family's long-standing commitment to Indianapolis and our pride in being part of its growth and future," said Herb Simon, founder of Boxcar Development and owner of Pacers Sports & Entertainment.
The Ritz-Carlton Indianapolis will feature 30 executive suites, 11,500 square feet of meeting space, a fitness center and spa, and an upscale restaurant.
A third-floor pedestrian bridge will connect the hotel directly to Gainbridge Fieldhouse.
The company will employ more than 300 full-time staff at wages starting at $20 per hour.
"This ballroom will fill an important gap in the city's entertainment landscape, creating a natural next step between smaller venues and Gainbridge Fieldhouse," said Jordan Zachary, President of Global Venues at Live Nation.
“The first time I saw a bunch of suits and hard hats, I came here and then a couple of days later, it was coming down,” said Indy resident Jarrad Purcell.
Purcell has watched the site transform from across the street at Hot Box Pizza.
“I think it’s awesome because it’s going to be right across the street. People who don’t want to get delivery or Door Dash, or they don’t wanna walk far, they can literally just come right across the street,” Purcell said.
A few doors down, Lundun Perry over at Howl at the Moon says the development will bring more patrons through her door.
“It’s been slow. We’ve had a slow season, besides the holidays and such when everyone’s hopping around between bars. I would say with this being able to bring more foot traffic, it would help The Pub and Howl at the Moon, and really this street [Georgia] right here,” Perry said.
The development builds on recent downtown investments including the new Indiana Fever Sports Performance Center and Morris Bicentennial Unity Plaza.
"This development is a reflection of Indianapolis' status as a world-class city," said Mayor Joe Hogsett.
Morgan Snyder with Visit Indy says the development is one piece of a much larger puzzle for the future of downtown.
"If you think of where we are as a city right now, we are standing on about a $3 billion investment in tourism infrastructure underway in this city. We’ll see the Signia by Hilton Hotel open this fall. This whole area will be a new gathering space. Vibrant green space, new event space for us to be able to use and attract new conventions into the city. The three-block promenade will stretch down. In between that, you’ll have Traction Yards that’s been announced and coming on board in the coming years. With the Ritz Carlton serving as that anchor on the far end of Georgia Street. This entire downtown core will have a new look and a great facelift in the coming years,” Snyder said.
The music venue is set to open in fall 2027, with the hotel scheduled to be done early 2028.
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