$300M Downtown Indy Development Plans Revealed

An investment group led by Pacers owner Herb Simon and family is set to spend $300 million to develop a 13-story luxury hotel and a 4,000-seat theater at 230 S. Pennsylvania St. in downtown Indianapolis, aiming for completion by late 2027. The project, replacing the CSX building, will house a Shinola hotel, managed by Live Nation, with additional amenities like a parking garage, restaurants, and retail spaces. The development, a partnership with Bedrock Manufacturing and Sage Hospitality Group, signals continued investment in Indianapolis and contributes to the city's skyline transformation as a tourist destination. Design firms Ratio Architects and Populous are leading the hotel and music venue designs, respectively, to blend with the historic Warehouse District where it will be located.