Construction starts on downtown Indianapolis Ritz-Carlton hotel and 4,000-capacity Live Nation venue project
Groundbreaking marks start of redevelopment at Pennsylvania and Georgia streets
Construction has begun on a downtown Indianapolis mixed-use project that will replace the long-vacant former CSX building at the corner of Pennsylvania and Georgia streets, across from Gainbridge Fieldhouse. The development is being led by Boxcar Development LLC, an investment group backed by the Simon family, in partnership with Marriott International and Live Nation.
The plan combines a luxury hotel with a mid-sized concert venue and ground-level retail, positioning the site as part of an expanding sports and entertainment district in the city’s Wholesale District.
Hotel plans include 176 rooms and meeting space connected to the Fieldhouse
The hotel component is planned as a 15-story Ritz-Carlton with 176 guest rooms. Publicly released project details describe more than 11,500 square feet of ballroom and meeting space, along with amenities that include a restaurant, lounge space, and a spa and fitness center. Project materials also describe a pedestrian skybridge over Pennsylvania Street intended to connect the development with Gainbridge Fieldhouse.
The Ritz-Carlton is scheduled to open in early 2028. A separate hotel concept previously circulated for the site was replaced as project planning advanced.
New 4,000-capacity venue aims to fill a gap in the local concert market
Live Nation is slated to operate a new indoor venue with capacity for about 4,000 attendees. The venue is expected to host touring concerts and other live events and is scheduled for completion in fall 2027.
The project team has described the venue as a size tier intended to complement existing downtown spaces by accommodating shows that are larger than club venues but smaller than arena events.
What is known about approvals, timing and surrounding development
The redevelopment follows local historic preservation review tied to demolition and new construction at the site. The broader timing also overlaps with other major hospitality and event-space investments downtown, including the ongoing expansion of the Indiana Convention Center and construction of the connected Signia by Hilton hotel.
Site: former CSX building location at Pennsylvania and Georgia streets
Hotel: 15-story Ritz-Carlton, 176 rooms, targeted opening early 2028
Venue: 4,000-capacity live music space, targeted completion fall 2027
Connectivity: planned pedestrian skybridge to Gainbridge Fieldhouse
With multiple projects adding rooms and event capacity in the urban core, downtown Indianapolis is in the midst of a significant construction cycle focused on hospitality, meetings, and live entertainment.
Developers and city officials have framed the project as part of ongoing efforts to increase downtown lodging options, expand event programming, and support year-round activity around major venues.