Times Square in Downtown Indianapolis?

Downtown Indianapolis could have a new destination if three Indiana based developers have their way.  Cedar Run Ltd., Zickler Associates, and Mennen-Gutwein are teaming up to try to change the face of downtown Indianapolis.  They are working on a plan to transform 11 acres on the southern portion of downtown, 2 blocks east of the Lucas Oil stadium, into a “Times Square Feel”.  The project is in its infancy; however preliminary plans call for 2 -3 hotels, 200 condos, 175,000 square feet of retail, a 3,500 seat theater, and parking for 2,200.  All of the hotels will be connected via walkways and most of the buildings will be centered around a large public plaza.  The developers seem confident that they can make this $480 million dollar dream into a reality and the first buildings could be finished by as early as 2010. 

I think a project like this would be great for the local economy and Indianapolis real estate in general.  With the new Lucas oil stadium opening next year and currently being home to world champion Colts, this does seem like an ideal location for a project like this.  Of course, a facility like this would only bolster our odds of winning the chance to host a Superbowl.  This project is far from reality, however the developers seems committed to making this work and working expeditiously to make this happen. 

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