By Mike Corbin 

8/3/2011 

City leaders broke ground Wednesday for a new $150 million development project on this site between Eli Lilly and Conseco Fieldhouse. (WIBC.com photo: Mike Corbin)

 
Indianapolis city leaders broke ground on a new $150 million downtown development project Wednesday.

The project, formerly known as "North of South," is now called "CityWay." It'll be an upscale mixed-use community that'll feature a Dolce Resorts business hotel and 320 apartments.

CityWay will also feature 40,000 square feet of yet-to-be-named restaurants and retail shops along with a state of the art YMCA.

Indianapolis-based Buckingham Companies is the main developer of the project.

Buckingham President Brad Chambers says construction will begin within 90 days and the project will be completed within two years. It's located at South and Alabama streets near Eli Lilly & Company headquarters and will sit on land within close proximity and view to Conseco Fieldhouse and Lucas Oil Stadium.

Mayor Greg Ballard says the project will generate some $350 million in economic impact for the city during a five-year period. He adds it'll create hundreds of jobs.

WIBC.com

Original Article