Hotel Proposals Crop Up Around New Colts Stadium

Mon August 27, 2007 - Midwest Edition

INDIANAPOLIS (AP) A proposed 24-story hotel is just one of ten projects that have been proposed for the city’s downtown near the new Colts football stadium and expanded convention center.

The high-rise hotel and residential tower would be constructed across from Lucas Oil Stadium, which is scheduled to open in August 2008. The renovated Indiana Convention Center, which will be the 16th largest convention facility in the nation, is scheduled to open in 2010.

Nine other downtown hotels are either under construction or in the approval stages.

The hotel would include 200 hotel rooms, seven floors of parking and a restaurant.

“I think it’s a very good location for a project like this,” said Stephen J. Alexander, president of Prince/Alexander Partners.

Financing for the $40 million project is pending, however, as developers wait for the results of a study by an Ohio consultant to gauge demand for more hotel units, condos and apartments downtown, Alexander said.