A new development project will transform a key part of downtown Indianapolis. The Cole Motor Redevelopment will go on the site of the old Marion County Jail II.
Long before it was the jail, the property along the I-65/I-70 split in downtown Indianapolis housed an automaker. The new project is named after the early 20th century Cole Motor Car Company and will feature mixed use development.
The city of Indianapolis announced the $120 million project will be led by 1820 Ventures. Indianapolis Mayor Joe Hogsett said it will transform the corridor connecting downtown and the Near East side.
“This campus will be centered on housing, entertainment, neighborhood retail and educational opportunities,” Hogsett said.
The first expansion for the Vogue will move a new music venue into the space. New apartments and an education component will also be incorporated.
The Department of Metropolitan Development will likely propose a new TIF District and the number of affordable housing units will be tied into that request.
DMD sent out a request for proposals for this site and other key redevelopment efforts earlier this year as part of the city’s downtown core resilience plans.
Indianapolis City-County Council Vice President Zach Adamson (D-17) said the area will serve as a vital connector.
“Positioned on the Downtown off ramp and a strong presence on the most traveled stretch of highway in the State of Indiana it is an iconic opportunity that we can not afford to lose,” Adamson said.
Bid winner 1820 Ventures went through an extensive community engagement effort to help determine wants and needs. The project intersects with other investments in the Near East side and along the planned IndyGo Blue Line that will run along Washington Street between Cumberland and the Indianapolis International Airport.