Indianapolis is turning the page on one of its most iconic landmarks—City Market. With a $175 million City Market Redevelopment now underway, the city is aiming to breathe new life into the historic block while preserving its architectural legacy. This ambitious project combines housing, green spaces, and public access enhancements to create a more vibrant, walkable downtown experience.
As the heart of downtown, the City Market has long been a hub for local food, culture, and small businesses. Now, with changing urban needs and renewed focus on downtown living, the city is ready to reimagine the space for the future.
What’s Included in the City Market Redevelopment?
The redevelopment is a multifaceted transformation involving key structures and underutilized spaces within the City Market block. Here’s what’s planned:
🏢 Gold Building Conversion into Housing
- The 20-story Gold Building at 151 N. Delaware Street will be transformed from aging office space into 354 residential units.
- Of these, 10% will be designated as affordable housing for residents earning up to 80% of the area median income (AMI).
- This conversion is aimed at attracting more residents downtown and addressing housing accessibility.
🌳 New West Plaza and Exposed Catacombs
- A $15 million redesign of the West Plaza will introduce green space, outdoor seating, and a new public gathering area.
- The project will expose portions of the historic catacombs beneath the market, giving the public a unique view of the city’s hidden past.
- The space is intended to support events, community interaction, and local entrepreneurs.
🚶 Pedestrian Pathways and Alley Activation
- Wabash Alley, which cuts through the market block, will be converted into a pedestrian-only walkway, encouraging foot traffic and improving urban mobility.
- Additional alleyways will be repurposed into pedestrian corridors, enhancing walkability and creating safer, more connected public spaces.
Why It Matters: Economic and Community Impact
This project is more than a facelift—it’s a strategic investment in the economic and cultural vitality of downtown Indianapolis.
- Attracts downtown residents by increasing housing options and affordability.
- Supports small businesses and vendors with new foot traffic and event spaces.
- Preserves historic features like the catacombs while adapting the site for modern use.
- Improves public space usability, safety, and accessibility with pedestrian-friendly design.
As Indianapolis continues to grow, projects like this play a vital role in making the city livable, inclusive, and future-ready.
Who’s Behind the Project?
The redevelopment is a partnership between the City of Indianapolis, Gershman Partners, and Citimark, with additional support from groups like Indiana Landmarks, which helps ensure the preservation of key historical elements throughout the process.
Behind the scenes, a variety of technical professionals—from architects and engineers to planners and licensed land surveyors in Indianapolis—contribute to the precision and compliance needed for a project of this scale. Their combined efforts help align the redevelopment with city codes, site conditions, and long-term planning goals.
Together, these teams are reshaping the City Market block into a space that reflects both its history and its future.
Timeline and Completion
- Construction on key elements of the project has begun.
- The glass-enclosed event space and new housing units are projected to be completed by late 2026.
- Additional plaza and pedestrian improvements will roll out in phases over the next two years.
What’s Next for City Market?
Even as the surrounding area transforms, the core of City Market’s mission—to serve the community—remains intact. During redevelopment, many vendors will continue operations, and future plans include upgraded vendor spaces, improved accessibility, and event opportunities to further energize the space.
A Bold Vision for Urban Renewal
The City Market redevelopment is more than a construction project—it’s a statement of vision for what Indianapolis wants its downtown to become: a place where history and innovation coexist, where people live and gather, and where small businesses thrive.
As the city invests in housing, green infrastructure, and pedestrian-friendly design, the market is poised to remain a central heartbeat of downtown life—just with a fresh new rhythm.
