Indy Eleven, Keystone Group to Break Ground on $1 Billion Mixed-Use Development in Indianapolis

by Kari Lloyd

INDIANAPOLIS — Indy Eleven and Keystone Group will break ground on Eleven Park, a mixed-use project in the southwest quadrant of downtown Indianapolis in May. The development will include a 20,000-seat multipurpose stadium, 600 rental units, 205,000 square feet of office space, more than 197,000 square feet of retail space, a hotel and public parking garages. The Indianapolis Star reports the project has a price tag of $1 billion.

Eleven Park will also feature a public plaza and green spaces featuring an outdoor stage with free concerts, a play zone, outdoor activities, water features and a dog park. The public plaza will offer access to planned community events year-round. Other amenities include a 4,000-seat music venue and access to The Cultural Trail, which is an 8-mile, multiuse path through the city.

“Our goal for Eleven Park is to continue the city’s tradition of using sports as a business driver for Indiana by increasing Indianapolis’ profile as a global city and showcasing the world’s most popular sport,” says says Ersal Ozdemir, chairman and founder of Keystone Group, as well as the owner of the Indy Eleven franchise.

The stadium will be the new permanent home of Indy Eleven, Indianapolis’ professional soccer team, and is scheduled for delivery in 2025. Delivery dates for other elements of the project were not disclosed. 

The former company on the property, Diamond Chain, has ceased production after more than 100 years at the location and will vacate the property by the end of April. Rezoning to accommodate the project was filed on Jan. 16. AECOM Hunt will be the construction manager for the stadium.

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