NewsLocal News / August 25, 2015

Capital Improvement Board Backs Deal For $50M Pacers Practice Center

The board voted unanimously Monday to support a deal for the five-story building with a gym, office and retail space at what is now a parking lot near Bankers Life Fieldhouse.Pacers, Capital Improvement Board, CIB2015-08-25T00:00:00-04:00
Capital Improvement Board Backs Deal For $50M Pacers Practice Center

The Pacers will pay for a five-story building with a gym, office and retail space at what is now a parking lot near Bankers Life Fieldhouse.

file photo

INDIANAPOLIS (AP) — A city board is backing a proposal from the Indiana Pacers for a new $50 million practice facility in downtown Indianapolis.

The Capital Improvement Board voted unanimously Monday to support a deal for the five-story building with a gym, office and retail space at what is now a parking lot near Bankers Life Fieldhouse.

Under the proposal, the Pacers would pay $1 a year to lease the property over 40 years. Board spokesman Robert Vane said the Pacers would pay for the construction and operations of the new training complex.

The team currently practices in a gym that was built as part of the fieldhouse 15 years ago. The CIB agreed last year to use $160 million in taxes to cover operating costs and upgrades at the fieldhouse.

 

 

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