City officials discuss progress on redevelopment plans for western portion of City Market

INDIANAPOLIS — Indianapolis Mayor Joe Hogsett and other city officials took time Wednesday afternoon to recognize the beginning of redevelopment plans for the western portion of the City Market campus.

The property, which has been an integral part of Circle City’s history since 1821, is set to be at the center of a revitalization project to transform it into a “vibrant, mixed-use space.” The property has been closed for nearly a year and the City of Indianapolis and developers are ready to begin revitalizing the West Plaza as part of a wider effort to overhaul the historic part of downtown Indianapolis.

“The redevelopment of City Market marks the next exciting chapter in the ongoing Downtown Resiliency Strategy,” said Mayor Hogsett. “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.”

Other attendees included City-County Council President Vop Osili, the Indianapolis Department of Metropolitan Development, Gershman Partners, Citimark, Merritt Chase, the Indianapolis City Market Board and Indiana Landmarks.

The City Market Block has had a long history in Indy for the last 138 years, first opening to welcome farmers as they ventured downtown to sell their crops before being joined by Tomlinson Hall until the popular 19th-century market and performing arts center was destroyed in a 1958 fire.

The project aims to provide residential and commercial spaces that will help to modernize the city’s downtown area before the demolition of the Platform at City Market, which is set to take place in early 2025.

Phase 1 of the project is set to feature the transformation of Market Center Square, located at 151 N. Delaware Street, into a 20-story residential building consisting of 354 units. City officials said 10% of these units will be available to households earning up to 80% of the Area Median Income.

The first phase will also focus on the West Plaza and Historic Catacombs, located at 222 E. Market Street, that will see the catacombs be restored as part of the West Plaza redevelopment efforts.

Visitors to the new plaza will be able to enjoy a green space ideal for recreational activities and outdoor seating, according to city officials.

”We imagine the west plaza to be rich in character with the exposed brick columns and vaulted archways and limestone of the historic catacombs with new stone paving and seating, garden planting and a space that is full of life from the new residential building with opportunities for lunch and dinner, drinks and family gatherings spilling out from the city market,” Designer Chris Merritt said.

This first phase is projected to be completed by the end of 2026.

The redevelopment of the City Market was originally announced in 2022 after Mayor Hogsett shared his Downtown Resiliency Strategy, which was intended to enhance the city’s investments in infrastructure, housing and reimagining public spaces.

The project also includes an upgrade worth $30 million to the office building at 251 E. Ohio Street in addition to a $12 million upgrade to the parking garage at 211 E. Ohio Street. The Wabash Alley between North Delaware and Alabama Streets will also be converted into a walkway for pedestrians to connect visitors to the City Market campus.

The project is estimated to cost around $175 million as developers have indicated the development will provide 350 construction jobs and 275 permanent jobs.

City officials added that plans are already being developed for the second phase of the project, which will primarily focus on the restoration of the City Market house to assist new artisanal vendors.

The project is the result of an active collaboration featuring the City Market Corporation, developers Gershman and Citimark and the Indianapolis Department of Metropolitan Development.

Russ McQuaid contributed to this report.