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Plans To Be Announced To Develop Market Square Arena Space

Last updated on Tuesday, July 16, 2013

(INDIANAPOLIS) - We will find out today what will fill part of the old Market Square Arena space in downtown Indy.

Mayor Greg Ballard will announce which of the five remaining development proposals will fill the north lot of the former home of the Indiana Pacers that was demolished in 2001.

Six developers originally submitted bids to the mayor's office, but the mayor's spokesman - Marc Lotter - says one pulled out early in the process.

Ballard first talked about developing the site during his 'State Of The City' speech in March, however this would be the third time the city has tried to build on the property.

Lotter says one reason those efforts in 2004 and 2007 may have failed was that the city tried to develop both the north and south lots at the same time. Both projects fell through before ground was broken.

Lotter would not talk about specifics for any of the proposals, though he said all call for "mixed-use" - the euphemism used to describe buildings that contain both homes and businesses.

Architect Wayne Schmidt previously disclosed that he submitted one of the proposals - a 52-story building that would be the tallest building in Indianapolis if it is selected.

While Ballard has the final decision on the development, Lotter says he spoke with a team of architects and realty experts, which made a unanimous recommendation for the winning plan.

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