Indy Eleven majority owner Ersal Ozdemir says he looked at approximately 20 sites over several years before deciding on the Diamond Chain property in downtown Indianapolis for the planned $1 billion Eleven Park soccer stadium and mixed-use district. Ozdemir believes the project, and its proximity to existing venues, can be transformational for the city’s near west side.
“Lucas Oil, Victory Field, the White River Park, the museums and concert venue, we feel this is a lynchpin for this area to completely take off, to create a village for people to live, work and play year-round,” he said.
Ozdemir talked about the site and his vision for the project on this weekend’s edition of Inside INidana Business with Gerry Dick.
Late last month Ozdemir confirmed to our partners at IBJ that a subsidiary of his development firm Keystone Corp. quietly acquired the site at 402 Kentucky Ave. for $7.6 million last October with the intent of locating his previously announced Eleven Park district there.
Plans for the 18-acre site include a 20,000-seat soccer stadium, apartments, a hotel, office buildings and retail space.
The project would be a public-private partnership with the city and state taking the lead on financing the soccer stadium and Keystone developing the residential and commercial spaces. The city is expected to provide tax incentives or other financing to help fill gaps in funding.