Study prompts civic leaders to tackle problems in downtown core
Throughout the 1970s, Indianapolis' population declined steadily despite the City's consolidation with suburban Marion County. Efforts to create an arts and entertainment district failed to reverse the negative trend. In 1974 the City commissioned a study that revealed Indianapolis lacked a distinct identity, prompting civic leaders to take action. Public/private partnerships spur significant long term revitalization
Indianapolis has made a long-term commitment to sports and entertainment developments to improve its image and boost investment in the downtown core. Over the last three decades, the city has been revitalized by a long list of projects, many of which have been backed by public/private partnerships. Anchored by major sports venues and complemented by commercial, residential, hospitality and cultural facilities, developments have concentrated on a central area that allows tourists and residents easy pedestrian access to many venues. The number and scope of the projects is extensive, with billions of dollars in public and private money invested in developments that include two major sports arenas, a track and field stadium and 10 other sports facilities, as well as a zoo, an aquarium, four retail complexes, five hotels and six major commercial office developments. Area now hosts over 20 million visitors annually, who spend approximately $3.5 billion
Once defined by its vacant storefronts and a declining economy, downtown Indianapolis has been profoundly transformed by the City’s efforts. When the redevelopment began in the 1970s, Indianapolis was not a tourist destination. Today the city’s convention centre has one of the United States’ highest occupancy rates, and the Indianapolis area hosts more than 20 million visitors a year, who spend about $3.5 billion. In August 2008, construction of the $720 million new home of the NFL Colts, Lucas Oil Stadium, was completed, and in October construction began on a $425 million Marriott hotel development featuring 1,623 rooms in the middle of the city’s downtown core. |
Useful links:www.lucasoilstadium.com www.consecofieldhouse.com www.indydt.com |