**KEY TAKEAWAYS**
* Live Nation will operate a new 4,000-capacity downtown music venue near Gainbridge Fieldhouse, filling a critical gap between smaller clubs and arena shows and expanding Indianapolis’ live entertainment offerings
* The venue will create more than 300 full-time jobs starting at $20 per hour and generate year-round economic impact that supports continued downtown revitalization
Boxcar Development LLC, an investment group led by Herb Simon and the Simon family, formally broke ground today alongside Marriott International and Live Nation on the redevelopment of the former CSX Building at Pennsylvania and Georgia Streets in downtown Indianapolis. The project, which sets the new standard for the city’s hospitality industry and fills an important event-space need in the downtown, includes the city’s first Ritz-Carlton Hotel, a 4,000-person capacity live music venue operated by Live Nation, and new retail offerings for the entertainment district in the area surrounding Gainbridge Fieldhouse.
Construction on the live music theater is set to be completed in the fall of 2027, and The Ritz-Carlton Indianapolis is scheduled to open early 2028. While work on the site has already begun, city and state officials joined the executives from Boxcar Development, Marriott International, Sage Hospitality and Live Nation to formally tip the project off with a Wednesday morning groundbreaking ceremony at Gainbridge Fieldhouse.
“Investments like this one keep the momentum we are experiencing in our downtown going and help take our hospitality and tourism industries to a new level,” said Herb Simon, founder of Boxcar Development and the owner and chairman of Pacers Sports & Entertainment. “This is the result of real public-private partnership, and I am proud that this shared commitment will bring these iconic brands to the heart of our downtown.”
Indianapolis is already home to several significant hotel offerings, and the introduction of The Ritz-Carlton, Indianapolis, an iconic leading luxury hospitality brand, is set to supercharge the city’s world-class hospitality and convention industry. The new 15-floor hotel tower is planned to boast 176 rooms, including 30 executive suites, 2 deluxe/hospitality suites, and a Ritz-Carlton suite. Additional amenities include 11,500 square feet of ballroom and meeting spaces, a fitness center and spa, an outdoor terrace, an upscale restaurant, a lobby bar and restaurant space, and a private lounge for hotel guests. A third-floor pedestrian bridge will connect the hotel to Gainbridge Fieldhouse, and the project also includes a two-level underground parking garage.
The Ritz-Carlton Indianapolis will be operated by Sage Hospitality Group, which operates more than 60 hotels nationwide and is the only manager to operate a Ritz-Carlton as a third-party operator.
“This groundbreaking represents more than a new hotel; it demonstrates what can be achieved when organizations unite around a shared vision,” said Anthony Capuano, President and CEO, Marriott International. “Introducing The Ritz-Carlton to this development brings a globally recognized standard of luxury hospitality to a project that we are confident will energize downtown and draw visitors to this vibrant destination. We are proud to work alongside Boxcar Development and Sage Hospitality and look forward to welcoming guests to experience The Ritz Carlton’s legendary service, best-in-class entertainment, and the spirit of Indianapolis.”
Live Nation has long been an important contributor to the thriving music and entertainment scene in central Indiana and has a longstanding relationship with Gainbridge Fieldhouse. The company, which employs more than 2,000 Hoosiers in the area, will operate the new live music venue that will bring additional shows to the downtown. The 4,000-person capacity venue features first-of-their-kind features and design elements, fills a critical niche for the Indianapolis market, compliments important investments made to grow Indianapolis’ music and arts landscape and cultivate talent in the industry, and expands the variety and caliber of entertainment offerings in the downtown. Additionally, the new Live Nation venue will employ more than 300 full-time staff at wages starting at $20 per hour, above the average for Indiana’s hospitality industry.
“We’re proud to partner with Boxcar on a project that transforms a prominent site in the heart of downtown Indianapolis,” said Jordan Zachary, President of Global Venues at Live Nation. “This ballroom will fill an important gap in the city’s entertainment landscape, creating a natural next step between smaller venues and Gainbridge Fieldhouse. It gives artists a place to grow their careers and fans a more intimate way to experience live music, while creating year-round jobs and supporting the continued revitalization of downtown.”
The addition of the Live Nation music venue and The Ritz-Carlton Indianapolis are also critical to efforts to bolster economic vitality in the Mile Square and capitalize on the vibrancy of the downtown. The intersection of Pennsylvania and Georgia Streets and the former CSX Building site, additionally, have long been targeted for revitalization and redevelopment, and the project enhances private and public investments already made throughout the district surrounding Gainbridge Fieldhouse. Earlier this year, Pacers Sports & Entertainment broke ground on a new Indiana Fever Sports Performance Center at the former Marion County Jail 1 site on Maryland Street. Other major investments in the area during the last few years include Commission Row on Delaware Street, Morris Bicentenial Unity Plaza adjacent to Gainbridge Fieldhouse, the Ascension St. Vincent Center and Pacers Training Facility, and the Fieldhouse of the Futurerenovation project at Gainbridge Fieldhouse.
“This development is a reflection of Indianapolis’ status as a world-class city,” said Indianapolis Mayor Joe Hogsett. “The new music venue and hotel we break ground on today will help to elevate Indianapolis and our thriving hospitality industry. The positive momentum of our city’s urban core is undeniable as we continue to celebrate investments like this one.”
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