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More than 20 independently owned local and regional food vendors will take up residence in the 38,000-square-foot marketplace.
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Streets that have been closed for months, to expand outside restaurant seating, will open again after Labor Day.
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The Bottleworks Hotel, The Garage Food Hall, movie theater, and retail and office space are scheduled to open by the end of the year.
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The money will support two projects, and will include apartments, restaurants, and office and retail space.
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The Create Indy fund includes two new grants for Indianapolis' arts districts and for emerging arts sectors.