INDIANAPOLIS (AP) — Construction could start in the coming months on a curved 28-story apartment tower at the site of the former Market Square Arena in downtown Indianapolis.
The Indianapolis City-County Council voted Monday night to approve providing up to $23 million in city financing for the estimated $81 million project.
The site on the eastern edge of downtown has been parking lots since the arena was demolished in 2001. The tower is to have ground-floor retail space, 300 apartments and a 500-space parking garage.
The council's 18-9 vote to approve the subsidy came after several council members argued the city had more important needs, such as hiring additional police officers.
Mayor Greg Ballard says the project will make the city a more attractive to place to live.