In 2016, Downtown Indianapolis welcomed 45 development projects totaling more than $800 million in investment. The year started with the completion of the Artistry community, followed by the opening of the old Consolidated Building, now known as Penn Street Tower. The long-anticipated, new Julia M. Carson Transit Center opened, as well as residential developments Lockerbie Lofts and Slate. A total of 1,695 new housing units were added to the Downtown market. We can’t forget those new eat and drink establishments. Punch Bowl Social and Livery are a few that are at the top of my list!
Downtown development projects under construction
An additional 48 development projects are currently under construction. These projects represent an investment of more than $2 billion. An additional 1,868 housing units are under construction. It’s been fun watching construction on 360 Market Square. First up will be the opening of the new Whole Foods in the fall of 2017. Continuing the trend of new eat and drink establishments, Downtown Indy will welcome many new restaurants including Burger Study in Circle Centre Mall and Garden Table in the Marott Building on Mass Ave. The completion of the Pacers training facility at the St. Vincent Center and the new Vue apartments will continue to change the Downtown skyline.
Downtown development projects breaking ground in 2017
Downtown Indy, Inc. is anticipating at least 20 projects breaking ground during 2017. These projects will add nearly 2,000 more residential units and 900 hotel rooms to the Downtown market. Projects breaking ground in 2017 represent more than $660 million in investment. With four new hotels anticipated to break ground in 2017, it’s no wonder that Travel and Leisure named Indianapolis one of the 50 best places to travel in 2017. Penrose, the long-anticipated redevelopment of the fire station headquarters on Mass Ave should open in Q1. Downtown momentum continues in Fountain Square, expanding along Prospect Street with a proposed apartment project.