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Market Square Arena served as the home venue for the Indiana Pacers basketball team from 1974 until 1999. In 2001, the aging facility was demolished in spectacular fashion, but no plans were in place for the property it stood on. After the site languished as a parking lot for a number of years, Flaherty & Collins Properties have charted a clearer path by proposing a 28-storey apartment tower. Named 360 Market Square, the building is now under construction, signalling a new start for the hallowed ground.
The tower will offer one-, two-, and three-bedroom luxury residences, a 40,000-square-foot Whole Foods Market, 2,500 square feet of additional retail, and a 525-stall parking garage. Inside each unit, occupants will be treated to floor-to-ceiling glass windows, view-laden balconies, wood flooring, stainless steel appliances, and granite countertops. The project's amenities package includes a rooftop sky terrace, a fifth floor sundeck and pool, a state-of-the-art fitness centre, clubroom, and dog run.
Designed by RTKL, the building will be the tallest apartment tower in the city when completed in 2017. So far, construction has surpassed ground level, and two cranes on the site are working to bring the building to its 91-metre (300-foot) height. 360 Market Square's curved shape, sleek facade and inset balconies promise to make a bold statement on the Indianapolis skyline.
The $121 million project is located in the city's newest downtown district, Market East. Residents of the neighbourhood enjoy access to recreational services like the Indianapolis Cultural Trail and Indianapolis City Market, in addition to a budding collection of restaurants. This is where much of the city's recent real estate investment has been centred, evidenced by the volume of modern glass-walled buildings that have sprouted from the ground and replaced a landscape previously dominated by concrete.
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