Commission to Consider Hotel, MacAllister AbatementsPosted: Updated:
Developers are seeking preliminary tax abatement approval on plans for a downtown Indianapolis hotel and MacAllister Machinery Co. Inc.'s new corporate headquarters. The proposals are set to go Wednesday before the Metropolitan Development Commission in Indianapolis. Plans call for a more than 100-room Extended Stay Hotel. The project from 100 Downtown Indy LLC is expected to cost $10.5 million. It will include renovations to a seven-story building that has been vacant since the early 1990s. If approved, developers say the hotel will employ 30 workers and could be complete by the end of next year.
MacAllister intends to invest $44.5 million in its new home facility. The heavy equipment supplier says the move will also create 70 jobs by 2018.
Final approvals could come early next month.
Sources: The Metropolitan Development Commission in Indianapolis