An investment group led by a prominent Indianapolis clan, the Herb Simon family, has plans to demolish the 100-year-old CSX railroad building in Downtown Indianapolis that is directly across the street from Gainbridge Fieldhouse and replace the CSX office building with two new towers that would house a hotel, apartments and retail space, according to the Indianapolis Business Journal, IBJ.

 According to Indianapolis Historic Preservation Commission documents reviewed by IBJ the $250-million development at 230 S Pennsylvania St would consist of a 26-story apartment building and a 16-story hotel all designed by Indianapolis architects Ratio Design.   

The 16-story tower on the corner of Georgia and Pennsylvania streets would have 225 hotel rooms and almost 18,000 sf of retail space. The other structure would have 254 apartments and almost 4,800 sf of retail space.