Indianapolis to put Market Square Arena site up for bid

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As Eyewitness News first reported last week, the City of Indianapolis is ready to give the old Market Square Arena (MSA) site another shot.

Mayor Greg Ballard will announce plans to put the two-acre parcel (now a parking lot) at Alabama and Market Streets up for bid during his State of the City address Friday afternoon. The city will issue a Request for Qualifications Monday. Mayoral spokesman Marc Lotter said they're looking for a mixed-use project that "adds significantly to the Indianapolis skyline."

The arena, once home to the Indiana Pacers, was demolished in 2001, with the site split into two parking lots. The city issued a request for proposals in 2004. While a project was selected, it never got off the ground. The city issued another RFP in 2007, but after the downturn in the economy, a decision was made to hold off.

Lotter said the property has since generated a lot of interest from developers, especially with a new residential development going up southeast of the site and a new transit center planned along Washington at Alabama.

The RFQ is only for the north lot. Lotter said the city wants a plan for it before putting out a RFQ for the two other lots directly south.