The Capital Improvement Board in Indianapolis has unanimously approved plans by Pacers Sports and Entertainment to use a parcel of land near Bankers Life Fieldhouse for a $50 million practice facility and office building. The five-story, 130,000 square foot facility would include two practice courts, state of the art training and medical facilities and space for a major tenant. "We’re not asking the CIB to build it, we’re not asking the taxpayer to reach into their pockets," PS&E Senior Vice President Bill Benner tells Inside INdiana Business.
"This will be totally privately-financed by Pacers Sports and Entertainment and that is a fairly extraordinary action."
The pie-shaped, CIB property is on the east side of Delaware Street, across from Bankers Life Fieldhouse and just north of the new City Way development. It is currently used as parking for PS&E employees.
Additional details on the planned development, renderings and the identity of an anchor tenant are to be released at a news conference at Bankers Life Fieldhouse Wednesday morning.
The team currently practices at facilities in the Fieldhouse.