INDIANAPOLIS — Big plans are on the horizon for an area in the heart of downtown Indianapolis.
When all is said and done, the area near City Market, the old Marion County Jail 2 and Arrestee Processing Center will all be redeveloped.
In the City Market area, there are plans to redevelop the area, which will make it look much different in a year's time. Places like the home of the Indy Bike Hub will no longer be here, but some of the larger buildings will be updated and even turned into housing.
"The Gershman Citymark team will be building about 60 units of housing on this site along with office and an expansion of the indoor-outdoor space of the market improving this entire plaza," Scarlett Andrews the Director of the Department of Metropolitan Development in Indianapolis. "Then they will convert the gold building into apartments as well. "
That equals to over 400 apartment units being added in the City Market area. The city of Indianapolis owns 17 acres of land in Market East of downtown. There are plans to invest more than $3.5 billion in the next three to five years.
Something Downtown Indy Inc. says is needed as downtown is the fastest growing neighborhood in Indianapolis
"We are looking at a demand of well over 96 percent so the supply has to continually keep up with that demand," Bob Schultz the Interim President of Downtown Indy Inc. said. "More people are moving into downtown certainly in the millennial set, Gen Z and empty-nesters. "
Downtown Indy Inc. says around 30,000 people live downtown which is why many of the developments happening are focused on living space.
Just east of downtown at the site of the old Marion County Jail 2 and Arrestee Processing Center, apartments will be a big portion of the redevelopment plans.
"The plan is to do over 100 units of housing so apartments also and expansion of the Vogue Theater and some educational uses as well potentially in partnership with Ball State," Andrews said.
As for the future of the city-county building, it is unclear, but they hope to release what the city plans soon.
While several departments have left the city-county building, there are still several that remain. Those include all Indianapolis city departments. On the county side, the treasurer, auditor, assessor, clerks, surveyors, recorders, and sheriff's security office all still remain.
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