INDIANAPOLIS — The Indianapolis City-County Council passed a proposal Monday night to revitalize the historic Old City Hall. 

The City-County Council approved Proposal No. 76, 2025, which authorizes up to $66 million in economic development lease rental revenue bonds to help finance the revitalization of the Old City Hall, officials said. 

Old City Hall, located in downtown Indianapolis at 202 Alabama St., near East Ohio Street, was built in 1910 and served as the seat of city government until 1962 and was briefly home to the Indiana State Museum and Indianapolis Public Library. 

However, for the last almost two decades, it has sat vacant. 

Credit: TWG DevelopmentA rendering of the revitalization project at the Old City Hall site in downtown Indianapolis.

The City-County Council said the proposal represents a major investment in downtown Indianapolis and will transform the building into a "vibrant hub for hospitality and commercial activity."

The revitalization project is being led by TWG Development, in partnership with the Circle Area Community Development Corporation. 

Under the terms of the agreement, TWG Development will be responsible for repaying the full amount of the bonds within 10 years, officials said. 

"No city revenues—current or future—will be used to pay the debt service, apart from new tax increment financing (TIF) revenue generated by the project itself," said Sara Hindi, a spokesperson for the City-County Council.

Credit: TWG DevelopmentA rendering of the revitalization project at the Old City Hall site in downtown Indianapolis.

The plans for Old City Hall include repurposing it into a four-story public art gallery, curated by 21c Museum Hotels, that will feature work from local artists, officials said. The plans also include a central grand rotunda, a restaurant on the first floor and designated office space. 

Hindi said the bonds were issued only for Old City Hall, which will be the lobby for the hotel, restaurant and art gallery. She said the parking lot will transform into housing/condos and hotel rooms.

“This investment in Old City Hall is part of a broader, strategic effort to preserve our historic downtown core,” said Vop Osili, president of the City-County Council. “From Circle Centre to the City Market to this iconic landmark, we are creating spaces that honor our history while fostering economic growth through job creation and tourism.”

Credit: TWG DevelopmentA rendering of the revitalization project at the Old City Hall site in downtown Indianapolis.

It will be 21c’s first project in Indiana and ninth across the nation. 

Construction is expected to start in July 2025, officials said, and be finished and open to the public in July 2028.