Mayor Joe Hogsett and community leaders announced the first phase of redevelopment of the City Market campus, beginning with the western portion.
A staple in Indy since 1821, City Market will be revitalized to create a mixed-use space through a partnership with the Department of Metropolitan Development (DMD), the City Market Corporation and developers.
Modern residential and commercial spaces will be added following the demolition of The Platform in early 2025. The first phase of the project is expected to be completed by the end of 2026.
The first phase includes:
- The Gold Building (151 N. Delaware St.): Market Center Square will become a 20-story residential building, including 354 units, 10% of which will be available to households earning up to 80% of the area median income.
- West Plaza & Historic Catacombs (222 E. Market St.): The catacombs will be restored and exposed as part of the West Plaza redevelopment. The plaza will feature green space with outdoor seating and historical markers.
“The redevelopment of City Market marks the next exciting chapter in the ongoing Downtown Resiliency Strategy,” Hogsett said. “The first phase of this project will not only revitalize one of our city’s most historic and beloved sites, but it will ensure the City Market campus remains a dynamic, welcoming space.”
The redevelopment was announced in 2022 as part of Hogsett’s Downtown Resilience Strategy, which aims to strengthen the city through housing, recreational public spaces, vibrant economic development and connected infrastructure.
The project focuses on creating a sustainable, long-term future for the campus through new job opportunities, community engagement and entrepreneurial spirit. Key components of the project are:
- Public amenities
- Job creation
- Housing
The city is partnering with Indiana Landmarks to preserve the history of City Market throughout the revitalization.
“This redevelopment is not just about building new spaces; it’s about fostering a sense of pride and connection to our past while preparing for a bright future,” said Megan Vukusich, DMD director.
The redevelopment also includes a $30 million upgrade to the office building at 251 E. Ohio St., and a $12 million overhaul of the parking garage at 241 E. Ohio St. Wabash Alley between North Delaware and Alabama streets will be converted to a pedestrian pathway.
Phase one is centered around laying the foundation to attract a new operator to oversee City Market’s daily operations and establish a financially stable market house. Phase two will include the restoration of the City Market house, which will accommodate new vendors.
For more information about the redevelopment, visit indycm.com.
This reporting is made possible by a grant from the Indianapolis African-American Quality of Life Initiative, empowering our community with essential health insights. https://iaaqli.org/
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Contact Health & Environmental Reporter Hanna Rauworth at 317-762-7854 or follow her on Instagram at @hanna.rauworth.
