INDIANAPOLIS — Indianapolis is preparing for two major downtown redevelopment projects.
On Thursday, the Department of Metropolitan Development (DMD) announced the release of two Request For Proposals: City Market East and the Marion County Jail II and Arrestee Processing Center.
“These redevelopments represent a monumental opportunity to define the next era of downtown Indianapolis,” said Mayor Joe Hogsett. “It is no secret that COVID-19 has created unique challenges for downtown districts around the country. However, with strategic investments in housing, retail, and public spaces, we can build a more resilient urban core.”
The Marion County Jail II site is becoming available as everything will be moving to the new Community Justice Center and the Arrestee Processing Center has already moved its operations there.
City Market East is poised to be developed after a year of construction caused significant hardships to businesses in that area. Now it is ready for revitalization.
“Both city-owned sites are unique opportunities for redevelopment in downtown Indianapolis,” said Scarlett Andrews, DMD director. “These legacy projects are key to Mayor Hogsett’s downtown vision as we create more spaces for residents, workers, and visitors to enjoy this special pocket of our city. We are thrilled to have the opportunity to add housing to the fast-growing downtown core and further support the hundreds of millions of dollars of public and private investment flowing into the heart of the city.”
Indianapolis City Market East Housing + Plaza Redevelopment
The city is asking for plans for City Market East that would keep the current City Market feel, with first-floor commercial use and then housing above that.
The city is looking for proposals that will grow downtown as a neighborhood and at the same time, provide vendors at City Market with a long-term customer base.
DMD is accepting Indianapolis City Market East Housing + Plaza Redevelopment proposals via email until March 11, 2022.
Last year, the Department of Metropolitan Development hired an outside consultant group to look at the facility to find out what kind of shape it's in and how it might be used in the future.
In its report to the city, the consultant group said it would cost between $4 million and $5 million to fix up City Market as is.
The estimated price of a complete transformation would be somewhere between $22 million and $34 million. That could include amenities like a new food hall, restaurant, retail and taproom.
Marion County Jail II and Arrestee Processing Center Adaptive Reuse
For Marion County Jail II and the Arrestee Processing Center, the city is hoping for a developer to submit plans that could include housing, hospitality, educational, or other commercial uses.
The city claims the site is "poised to see up to $250 million in private investment."
Complete responses for the Marion County Jail II and Arrestee Processing Center are due on April 1, 2022.