THE CITY MARKET HADN’T BEEN DOING SO GREAT IN RECENT YEARS.
It experienced a decline in both tenants and patrons even before being devastated by a Covid-mandated closure. By the time it shut down for renovation, only a relative handful of eateries and other establishments remained. “The Covid closure definitely had an effect on the market,” says Megan Vukusich, director of the Department of Metropolitan Development. “But it also gave us time to reflect on what its future should look like and what we needed to invest in right now to make sure it’s successful.”
THE LANDMARK PROPERTY IS CURRENTLY GETTING SOME LONG-DEFERRED TLC.
The 138-year-old City Market building hasn’t enjoyed a thorough update since the 1970s and was long overdue for extensive overhauls to its plumbing, HVAC, and electrical systems, as well as structural improvements to elements such as the loading docks. There’s also a plan to shore up and stabilize the building’s oft-visited catacombs and repair the exterior brickwork.
THE REDEVELOPMENT WORK IS GOING TO TAKE A WHILE AND COST QUITE A BIT.
The general cleanup and renovation tasks will take up most of the project’s first year and cost around $200 million. The entire project will likely last for two years or more. No one’s sure exactly how long, because …
AFTER THE GENERAL REMODELING, A NEW MARKET MANAGER HAS TO BE FOUND.
In the past, the facility’s day-to-day operations were handled by the not-for-profit City Market Corp. But after the remodeling phase of the project is finished, an as-yet-to-be-selected private company will be brought in to remake the interior and run the place. “I think that by the end of 2024, we might be finished taking care of deferred maintenance items,” Vukusich says. “Once that’s in place, we’ll be ready to attract an operator. We hope to have someone on board by the end of the year also.”
THE CITY MARKET PROPER IS THE TIP OF THE REDEVELOPMENT PROJECT’S ICEBERG.
The distinguished old edifice is the centerpiece of the block-spanning City Market East project, which will (among other things) turn the 20-story “Gold Building” into 350 apartments; upgrade the office tower at 251 E. Ohio Street; and add a newly built 11-story apartment building to the City Market’s east wing. The project is a joint venture between local developers Citimark and Gershman Partners.
THE IDEA IS TO BRING MORE FULL-TIME RESIDENTS DOWNTOWN—AND HOPEFULLY THROUGH THE CITY MARKET’S DOORS.
The new apartments are part of a long-running municipal effort to draw additional full-time residents to the urban core. The bigger that population becomes, the better (in theory) area businesses will do.
IF YOU REALLY LIKE THE LOOKS OF THE LOVELY, IRIDESCENT “GOLD BUILDING,” THEN YOU MIGHT WANT TO GET ONE LAST EYEFUL BECAUSE IT’S ABOUT TO GO AWAY.
Not the building, but the gold-tinted one-way windows that have sheathed its exterior since it opened in 1975. The revamped building is slated to house apartments instead of offices, so its tinted windows will be replaced by regular, transparent glass. And in case you’ve ever wondered, the structure’s real name is Market Square Center.
THE ORIGINAL FARMERS’ MARKET HAS A NEW HOME.
For the duration of the 2024 season, the beloved farmers market will operate on the southwest quadrant of Monument Circle every Wednesday from 10 a.m. to 1:30 p.m. until October 2. It’s the section of the Circle where Emmis Corporation’s headquarters resides and which last summer saw Spark on the Circle, a temporary park which is slated to return this year as well. This will be the second time in the city’s history that a farmers market has set up shop in this locale. From 1822 to 1824, shortly after Indianapolis’ founding, the Circle (which at the time looked more like a pasture) also hosted a weekly market.
FORMER VENDORS WHO WERE FIXTURES AT THE CITY MARKET HAVE EITHER RELOCATED OR CALLED IT QUITS.
Perennial, old-school haircutting mecca Jack’s Barber Shop has moved to 126 N. Delaware Street. But the owners of Just Cookies, after 35 years at the market, opted to close up and retire. The Department of Metropolitan Development is helping displaced vendors who want to find new locations, and the market waived tenants’ last two months of rent.
UNFORTUNATELY, THERE ARE NO COOL RENDERINGS SHOWING WHAT THE NEW INTERIOR OF THE CITY MARKET WILL LOOK LIKE.
The decor and the number and makeup of the vendors will be largely determined by whomever the city selects to manage the place. And that choice won’t be made until the end of the year.
