Department of Metropolitan Development provides update on redevelopment of City Market campus

City Market house enters period of temporary closure for once-in-a-generation opportunity to breathe new life into the historic space

INDIANAPOLIS – Today, February 29, 2024, the Indianapolis Department of Metropolitan Development (DMD) and Indianapolis City Market Corporation provided an update ahead of the temporary closure of the Indianapolis City Market house effective at end of business on March 1, 2024. This public notice follows an update provided in December 2023.

“The Indianapolis City Market has served as an integral part of the Indianapolis community for decades,” said Megan Vukusich, Direct of DMD. “With the last major renovation of the market house dating back to the 1970’s, substantial investment in the market house is necessary to sustain its legacy in Indianapolis for generations to come. We thank the vendors who have been part of the City Market’s story and look forward to reestablishing this historic small business hub and community gathering space to its place as a bustling fixture of downtown Indianapolis.”

Following the closure of the market house to the public, vendors will begin to decommission their space prior to the commencement of long-awaited renovations. In response to an assessment completed in 2021, this renovation period will address key structural components including ventilation, plumbing, electric, loading docks, emergency amenities, and more.

It is anticipated that upon reopening, a private operator will be responsible for the day-to-day functions of the market house, including assisting in the selection process of future vendors. The Indianapolis City Market Corporation and DMD will work in tandem to develop and implement food access and food entrepreneurship programming though initiatives like Indianapolis’ Original Farmers’ Market.

“The Indianapolis City Market Corporation is happy that investment is coming to the market house,” said Keisha Harrison, Executive Director of the Indianapolis City Market Corporation. “We look forward to continuing to elevate local food brands and increase food access through the weekly outdoor Original Farmers’ Market this summer.”

At the beginning of the year, DMD and the Indianapolis City Market Corporation began meeting with vendors to better understand the future plans for their business. In addition to waiving January and February rent, the City has offered financial support and technical resources to assist vendors during this transition. While the future plans for each vendor vary, information including relocation details for each business, if applicable, will be made available on the Indianapolis City Market Corporation’s website.

As a part of a grander vision for the Mile Square, the renovation of the Indianapolis City Market is one of several key components of the City Market East and West Plaza Redevelopment project announced in 2022. In partnership with local developers Gershman Partners and Citimark, this $200 million redevelopment project includes the office-to-residential conversion of the 20-story Gold Building, construction of a 11-story tower on the east wing of the campus, a public plaza on the west wing of the campus, and upgrades to the office tower at 251 E. Ohio Street, bringing approximately 400 housing units, pedestrian infrastructure, and public space upgrades to the City Market block.

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MEDIA CONTACT: Kennedy MaKay Weaver | City of Indianapolis
Public Information Officer, Department of Metropolitan Development
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