INDIANAPOLIS — On Tuesday, the city of Indianapolis unveiled plans to change the downtown city skyline again — along with adding a new boutique hotel, housing, and retail while saving a piece of city history.
The historic Old City Hall, in the 200 block of North Alabama Street, will undergo a $140 million redevelopment.
Local developer TWG will spearhead the project, which will include a new 32-story tower in the parking lot at 222 North Alabama Street, 190 residential units, ten affordable housing units, and a new museum hotel with 150 rooms and retail space.
Additionally, part of the Old City Hall will become a public art gallery.
"This building will change the skyline forever and we couldn't be prouder to do that and repurposing a 100-year-old building as everyone's talked about is really neat," TWG CEO and Cofounder, Tony Knoble said. "It's going to be a good combination to save the old and pay some homage to the people who used to work here, whether it was the old city hall, the library, whatever it's been over those years."
The proposed project would be supported through a new tax increment financing district with public financing supported by the new development.
The financing package will go before the city-county council in October.
Construction is not expected to begin until the end of next year.
