Bill Could Help Finance Eleven Park

(rendering courtesy of Keystone Group)

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State Senator Jack Sandlin (R-Indianapolis) has introduced a bill to create a sports development area to help finance a planned multipurpose soccer stadium. The proposal would allow the area to capture up to $11 million per year to pay off bonds for the recently-announced $150 million stadium plan.

The specific location of the sports development area will depend on where developers ultimately decide to build the planned $550 million Eleven Park. In addition to serving as the home of the Indy Eleven soccer team, the development would also feature 150,000 square feet of office space, 100,000 square feet of retail space, 600 apartment units and a 200-room boutique hotel.

Keystone Group would develop the project. Chief Executive Officer Ersal Ozdemir, who is also owner of the Indy Eleven, said last week the development would be an "opportunity to create a vibrant community that will attract individuals and families from near and far to live, work and play."

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