Shinola is planning to expand beyond its home market and open its second hotel in Indianapolis. Boxcar Development LLC, the investment group led by Herb Simon and the Simon family, has submitted a proposal to repurpose the site of the former CSX building in downtown Indianapolis into a $300 million, new multi-use development.
The site will host the Shinola hotel, a 4,000-capacity music venue operated by Live Nation, retail space and a pedestrian skybridge. The site is the last undeveloped one in the neighborhood.
Spanning 226,000 square feet, the Shinola Hotel will be situated in a new, 13-story building. The hotel will have 170 deluxe rooms and suites along with an upscale restaurant, a bar, indoor and outdoor terrace banquet spaces, event spaces, a fitness center and a Shinola retail store.
Boxcar has signed a Letter of Intent with Bedrock Manufacturing, Shinola’s parent company, and Denver-based Sage Hospitality Group, which manages the Shinola Hotel in Detroit.
Detroit-headquartered lifestyle brand Shinola, known for its watches and leather goods, forayed into the hospitality sector in 2019 with its first hotel, Shinola Detroit, in the city’s Woodward shopping district. A 100-year-old former Singer Sewing Machine headquarters along with an adjacent property were redeveloped to open as a 129-room hotel, with 54 room types. The hotel is a partnership between Shinola and real estate firm Bedrock Detroit.
Boxcar is also finalizing details on an agreement with Live Nation to operate the music venue. A long-time partner in Indianapolis’ music scene, the company employs more than 1,800 residents of the greater Indianapolis area.
Besides the hotel and music venue, the project also proposes to include a two-level below-grade parking lot and a skybridge over Pennsylvania Street into Gainbridge Fieldhouse.
The demolition is anticipated to commence from the fourth quarter, with construction expected to complete in 2027.
Indianapolis-based design company Ratio Architects LLC has been selected to design the hotel and other spaces, while Populous will design the music venue. The development’s architecture and design will draw inspiration from the historic Warehouse District, which will house most of the project.
Boxcar said in a statement that the new development will address the “long-standing blight” at an important intersection in the downtown.
Plans for the building’s transformation have been submitted to the Indianapolis Historic Preservation Commission and will be available for public review later this month. The proposal will be discussed at a public hearing in August.