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Industry Noize: Another Indy Shed Proposed
The outdoor concert scene in Indianapolis could get a little crowded with news of the sale of a 102-acre former General Motors plant site to an investor who’d like to build yet another amphitheater.
REI Investments has inked a deal to purchase the site and sell half to the city for a proposed jail and justice facility.
And on its half of the land, the company is apparently seeking financial backers and a partner to build a 15,000-seat amphitheater – almost d, which has a capacity of 8,000.
Live Nation also owns and manages the 25,000-capacity
REI President Mike Wells told the Indianapolis Star that if the amphitheatre plan doesn’t pan out, the company will build apartments, restaurants and retail space.
“We’re going to have to come up with a decision in the fall as to what direction we will go,” he said. “And then I think we would start construction probably in the second quarter (of 2015.)”
In March, Live Nation pledged to invest $10 million to expand the seasonal setup at Farm Bureau Insurance Lawn into a permanent concert venue. Part of the plan reportedly includes expanding the amphitheater to a range between 8,000 and 12,000, with much of the seating permanent and covered.
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