Historic Indy Building to Become Hotel
A nearly 110-year-old building in downtown Indianapolis will soon have new life. Indianapolis-based real estate development firm Loftus Robinson is partnering with Kimpton Hotels & Restaurants in California to transform the former Odd Fellows building into a 130-room hotel with a signature restaurant.
Financial terms of the project are not being disclosed, however the developer says the hotel is scheduled to open in early 2020 and create about 150 hotel and restaurant jobs. The building will also include more than 5,000 square feet of meeting space and a rooftop bar. It will also feature a top-floor event space with views of downtown Indy.
"We visited many Kimpton hotels and were very impressed with the brand experience. Their creative approach to hospitality is a great fit for our company, and the timing is right for the City of Indianapolis," said Drew Loftus, founder of Loftus Robinson. "We couldn’t be more excited to partner with Kimpton on such a prominent project. The boutique hotel, restaurant, and rooftop bar will breathe new life into a very deserving, historically-significant building."
The building at One North Pennsylvania was constructed in 1909 and primarily served as office space throughout the 20th century.
In February 2016, Florida-based NAYA USA Investment & Management acquired the building for nearly $5 million. Loftus Robinson has since purchased the building and says Kimpton will run the management of the hotel once the project is complete.