Downtown Indianapolis is undergoing a transformation fueled by more than $5 billion in development projects set to reshape the city’s landscape over the next four years. The sweeping investments span a variety of sectors, from healthcare and hospitality to retail and residential housing. These projects could play a pivotal role in revitalizing the downtown area, positioning the city for future growth after the slowdown of the pandemic.
Perhaps most significant, many of these developments are part of a special tax plan created to fund a potential Major League Soccer stadium, though these projects will continue to move forward regardless of whether the stadium materializes. Here’s a look at some of the largest projects driving this surge.
IU Health’s $2.3 Billion Mega Hospital
Set to redefine healthcare in the city, the IU Health hospital complex is the largest development currently in progress downtown. Located at the southwest corner of 16th Street and Capitol Avenue, this $2.3 billion project will merge IU Health’s Methodist and University hospitals into a single, state-of-the-art academic medical center.