APIndiana News

$500 million project at Indianapolis airport cancelled

(Source: http://bit.ly/1RrwVVl License: http://bit.ly/1S0IVkT)

INDIANAPOLIS (AP): The Indianapolis International Airport board has cancelled a proposed $500 million medical center and sports complex amid pressure from community leaders worried about the developer’s ability to pull off the massive project.

The board unanimously rejected all proposals Friday for the unused 130 acres at the airport’s former terminal, and said it would start over.

The Indianapolis Business Journal reports the vote came after community leaders raised questions about the project’s developer.

Startup real-estate developer Athlete’s Business Network had faced criticism for having never built a real estate project and for not providing clear signs it could finance or manage such a huge complex.

The company had proposed building a massive center with four medical office buildings, a brain health research center, two hotels and a 20,000-seat stadium.

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