Indy airport nearing deal for Westin hotel connected to terminal
Airport officials have flirted with the idea of locating a hotel next to the terminal since planning for the current midfield complex began in the early 2000s.
Airport officials have flirted with the idea of locating a hotel next to the terminal since planning for the current midfield complex began in the early 2000s.
The $140 million project, which city officials are calling the “Alabama Redevelopment,” will include 190 residential units, 150 hotel rooms and 8,000 square feet of retail and hospitality space.
The plan allows for a 468-foot-tall hotel tower—which would make it the tallest hotel in the state, and the fourth-tallest building overall.
The ceremony follows months of construction work beneath the plaza to stabilize certain structures, like Pan Am Tower, and prepare the site for a three-year buildout.
The vote was a crucial step in advancing the development of an 814-room Signia by Hilton hotel on Pan Am Plaza. The measure allows the city to take out up to $625 million in municipal bonds for the project.
Hoteliers are getting a significant boost again this year from the Indianapolis 500, with most of the hotel rooms within 10 miles of the event already spoken for throughout the weekend.
The only other Indiana lodging choice to make the list was ranked 27th and is operated by the same company that oversees Bottleworks Hotel.
Representatives for Indianapolis Mayor Joe Hogsett said a feasibility study is expected to be completed before a full City-County Council vote set for June 5.
But Mayor Joe Hogsett, a Democrat seeking a third term, says the plan will ensure Indianapolis’ hospitality industry remains nationally competitive by making room for larger events.
Republican Jefferson Shreve said he disagrees with the decision by Mayor Joe Hogsett’s administration to take over financing and ownership of the $510 million Signia by Hilton—a key part of the city’s convention strategy.
Hogsett administration officials said the move was necessary to save the project after Kite Realty Group told the city it couldn’t secure suitable financing for a planned 814-room Signia by Hilton hotel.
Town of Speedway officials and residents on Monday night learned a development firm involved in its long-delayed $36 million Wilshaw hotel project purposely withheld details of a settlement reached last year with federal securities regulators.
Town of Speedway leaders are pumping the brakes on a proposed $2.5 million loan to help pay for the long-delayed Wilshaw hotel project after learning that one of the companies involved wasn’t forthcoming about federal fines for past business dealings.
The 273-room hotel’s owner is gearing up for the renovation as planning continues for an expansion of the Indiana Convention Center and construction of a connected 800-room Signia by Hilton Hotel a block to the north.
The upscale hotel project across from Indianapolis Motor Speedway has gone through numerous delays since being announced in 2015. A new developer took over in late 2021 but has yet to restart construction.
White founded White Lodging in 1985 with a single hotel in Northwest Indiana and grew the company into one of the industry’s largest privately held development, ownership and management companies.
The additional financial support will come from the Capital Improvement Board’s fund balance, which was bolstered in October with $50 million in revenue replacement funds through the federal American Rescue Plan Act.
The Fishers-based hotel developer and manager and Indianapolis-based American Structurepoint filed plans to build a five-story, 126-room hotel on 1.13 acres at 12164 N. Meridian Street.
The $550 million project includes a $125 million expansion of the Indiana Convention Center, as well as an 800-room hotel being developed by local developer Kite Realty Group Trust. A second 600-room hotel is planned for a later phase of the project.
The approval of such a study marks the first substantive step in the airport authority’s consideration of a hotel—which would sit on the west side of the existing terminal garage—since the terminal opened in 2008.