EDC approves financing package for Old City Hall reuse project; recommends council ordinance

The Indianapolis Economic Development Commission voted to approve resolutions recommending a bond ordinance and project report for the Old City Hall reuse project, a $248,000,000 redevelopment that pairs a 29‑story mixed‑use tower with the renovation of Old City Hall for a public art museum and office space.

The vote sends the EDC’s recommendation to Indianapolis City Council for a corresponding bond ordinance. DMD staff and the city’s Office of Minority and Women Business Development told the commission they support the project and its inclusion plan.

Chase Smith, vice president of market rate development at TWG, told the commission the combined project has received a certificate of appropriateness from the Indianapolis Historic Preservation Commission and remains on track to break ground in late summer. “Everything you see here contained within these renderings and drawings is all approved by IHPC,” Smith said. Joseph Lee, contract compliance officer for the Office of Minority and Women Business Development, said the office updated and approved the project’s XBE inclusion plan. “OMWBD approves of this project moving forward,” Lee said. Emily Stumpf, project manager for DMD, said, “DMD staff is in support of the project.”

What the commission approved

The project package presented to the commission includes: - A 29‑story tower with 23 condominiums, 86 apartments (five of which are…