Study Supports Development at Former Airport Terminal
A proposed mixed-use development at the former Indianapolis International Airport property has gained support from a new feasibility study. Las Vegas-based Full House Resorts, which commissioned the study, says the American Place development would generate $85 million in new state and local taxes annually.
The study, conducted by Pennsylvania-based Gerney REsearch Group LLC, says a development like American Place would attract high-quality tenants like Louis Vuitton, Apple, Banana Republic and others, given the proper investment. It said many of those high-end store brands are either unrepresented or under-represented in Indianapolis and would be attracted to American Place.
"Indianapolis has fewer middle- and high-end retail offerings than other cities of its size and the opportunity is particularly evident on the southwest side. This portion of the metropolitan area is now showing considerable growth, stimulated by the Airport Authority’s construction of the new airport terminal," said Full House Resorts CEO Daniel Lee. "That new terminal created the opportunity to redevelop the former terminal site into a center for southwest Indianapolis, much as the Keystone area – some 25 miles away – is the retail and commercial center for northeast Indianapolis. American Place will help launch that transformation and lead to further development in the area."
American Place was proposed as a response to Indianapolis International Airport’s "Land Use Initiative" request for proposals in August. It would include about 700,000 square feet of retail space, a boutique casino, a multi-purpose conference and performance center, residential condominiums, office space, restaurant court, multiplex movie theater and more.
Full House Resorts says the project would create approximately 4,000 permanent jobs and draw about 10 to 15 million visitors per year. Click here to find more information on American Place.