INDIANAPOLIS — Local developer TWG has partnered with the City of Indianapolis for the redevelopment of Old City Hall and an adjacent parking lot. The announcement of the $140 million, 32-story mixed-use tower follows a public Request for Proposals (RFP) from the City of Indianapolis Department of Metropolitan Development.
Construction on the Alabama Street Redevelopment is slated to begin at the end of 2024. The $140 million Alabama Street Redevelopment will encompass the Old City Hall building at 202 N. Alabama Street and the parking lot at 222 N. Alabama St.
The 32-story tower at 222 N. Alabama will house 190 new multi-family residential units with a mix of studio to 3-bedroom units, and 24 condominium units. As part of the city’s affordability requirement, TWG will set aside ten affordable units for residents making 30 percent of Area Median Income.
To join alongside the residential units, TWG is in exclusive negotiations with 21c Management LLC to brand and operate a 21c Museum Hotel, with a total of 150 boutique rooms occupying floors 6 through 13 along with a lobby, restaurant, and curated retail space. 21c Museum Hotels is a contemporary art museum and boutique hotel chain, and Indianapolis will feature the ninth 21c in the United States. To serve residents and hotel guests, two separate sets of amenities are incorporated in the proposal. 21c Museum Hotels is part of Ennismore, a global collective of entrepreneurial and founder-built brands with creativity and purpose at their heart.
The Alabama Street Redevelopment will restore 113-year-old Old City Hall with the 21c Museum Hotel public art gallery serving as the anchor for the four-story, Classic Revival building. Through the redevelopment process, the City and TWG will work to determine the best use of community and office space in the remainder of Old City Hall.
