Whole Foods Market to anchor Market Square Arena redevelopment
Whole Foods will be the cornerstone of the upcoming development at the former Market Square Arena site in downtown Indianapolis, it was announced Tuesday.
The 40,000 square foot Whole Foods Market will anchor the retail area of the site, which will also feature a 28-story luxury apartment tower and a 525-space parking garage.
"This will be one of the finest mixed-use towers in the Midwest, if not the country," says David Flaherty, CEO of Flaherty & Collins Properties, the company developing the northern parcel of the site. "With the tremendous value Whole Foods Market will add to future residents and to downtown, this is truly a great win for the city of Indianapolis."
"Great, convenient shopping is a must-have for thousands of people moving to downtown Indy," said Indianapolis Mayor Greg Ballard. "The addition of Whole Foods Market to the MSA residential tower project provides another great shopping destination for people living and working downtown, and is another reason why so many people are choosing to Live Indy."
The $81 million project was approved by the City-County Council in March. Construction is scheduled to begin this fall.
"We are looking forward to starting the project," said Jim Crossin, Vice President of Development at Flaherty & Collins. "We believe it will take downtown living to a new level, which is befitting the growth, activity and enthusiasm happening around the city of Indianapolis. What a great time it is to be in and around downtown."
In addition to Whole Foods, the redeveloped site will feature 2,500 square feet of retail space.