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Washington Square resort vision faces questions over land, financing and community priorities
A Los Angeles developer has proposed a $5 billion, 2,000-room resort at Washington Square Mall, but the concept lacks confirmed site control and public backing from key stakeholders. The pitch differs sharply from a community-backed vision for a mixed-use neighborhood on Indianapolis’ far east side.
A Los Angeles-based developer is proposing a 2,000-room luxury resort and conference center at Washington Square Mall, a nearly 94-acre site on Indianapolis’ far east side. The company estimates the conceptual project would cost $5 billion, but questions remain about whether it can secure the land and financing—and whether the plan reflects neighborhood priorities.
BRC Commercial Properties presented its Washington Square Grand Hotel, Resort and Conference Center concept at a public meeting Thursday night. Preliminary plans include conference facilities, entertainment attractions and other hospitality amenities. No construction schedule or financing plan was announced.
The proposal comes amid a separate effort led by City-County Councilor Michael-Paul Hart and design firm Schmidt Associates. Their plan, unveiled in August, lays out a flexible mixed-use neighborhood with retail, restaurants, recreation, green space and housing. It was intended to attract investors, rather than establish a final design; no developer or construction timeline had been secured when it was released.
Land ownership is a central complication. BRC Chief Operating Officer Eddie Hager previously said the company had a pending purchase agreement with Washington Square’s majority owner, Durga Property Holdings, and had been working on it for nearly two years. Durga representatives have disputed the deal’s status, including during Thursday’s presentation. The larger property has multiple owners.
Hart, who has said he is not involved in BRC’s plans, warned that a large public announcement before land assembly and other groundwork could complicate redevelopment. In a recent blog post, he said public announcements can drive up property prices, citing concerns raised in the community’s study.
A successful redevelopment, Hart has said, would require private investment alongside public tools such as tax-increment financing, grants and tax credits. The census tract around the mall has been nominated for federal Opportunity Zone status, which could offer investment incentives, but Treasury certification remains pending.
Washington Square opened in 1974 as a shopping destination for eastern Marion County. Departures by anchor stores, changing shopping patterns and deferred maintenance have left much of the property struggling. Target and AMC remain open.
For residents, the competing visions raise questions about what will ultimately be built and who will benefit. BRC’s resort pitch remains conceptual; its next challenge is to establish control of the site and a credible path to financing.