While the plan has gained considerable momentum, additional steps need to be completed before a proposed Indy Eleven stadium could move forward.
Earlier this year, Indiana lawmakers approved a funding mechanism for a proposed new 20,000-seat stadium for Indy Eleven that would anchor a larger development dubbed Eleven Park. The approved legislation would allow tax revenue collected within the development to cover the public’s 80% share of the stadium project’s $150 million cost, with the facility to be surrounded by $400 million in privately financed mixed-use development.
That approval represented a major milestone for Indy Eleven, a club that currently competes in Division II USL Championship but has long held MLS expansion ambitions. However, the proposal has some lingering issues that would have to be resolved before it moves forward. Indy Eleven owner Ersal Ozdemir has yet to settle on a site for the project, and further approvals would need to be granted as the planning process moves along. More from the Indianapolis Business Journal:
Aspects of the plan would require City-County Council approval, and the Metropolitan Development Commission, which also is controlled by mayoral appointees, would have to create the PSDA.
Thomas Cook, chief of staff for Mayor Joe Hogsett, said city officials want the Eleven to come to the table with all project details in hand, including a final site and financing documents.
“We’ve made it clear to them that, if they can come back to us with a holistic proposal—inclusive of a site, funding and the scope of their whole project—we’re definitely willing to consider it,” Cook said.
Moving forward with the project also would require the approval of the State Budget Committee.
In a statement to the Indianapolis Business Journal, club CEO Greg Stremlaw indicated that conversations about the project have been positive:
The Eleven declined multiple interview requests. Instead, CEO Greg Stremlaw issued a statement that included only generalities:
“Positive conversations surrounding Eleven Park continue between Indy Eleven, the city of Indianapolis and community partners, and those include discussions on the best location for this project that will be a transformational neighborhood development in the city of Indianapolis.”
Details released on the Eleven Park proposal thus far have called for the stadium to host other events in addition to soccer matches. Under the vision for the project, the stadium would be the anchor of surrounding development that includes a hotel, residential units, and office and retail space.
Rendering courtesy Indy Eleven.
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