Committee OKs Market Square Project IncentivesPosted: Updated:
A more than $80 million proposal to build an apartment tower where Market Square Arena once stood in Indianapolis is moving forward. A City-County Council committee has approved $23 million in incentives for the 28-story development. Our partners at WTHR-TV report the plan now moves to the full council. As part of the agreement, 30 percent of the construction jobs associated with the project must go to Marion County workers.
Councilman Vop Osili says the unique design of the building will make the Indianapolis skyline more "memorable."
Plans call for the property to include retail space and is being touted by Mayor Greg Ballard as an economic boost for the city's downtown.