Indianapolis city and IUPUI officials on Monday announced a $30 million deal for street improvements through campus and a facelift for the IU Natatorium, one of the university’s major attractions.
The city will spend $10 million from its downtown TIF fund to make Michigan and New York streets into two-ways across campus and into the Haughville neighborhood. The money would also pay for street improvements such as sidewalks, bike lanes and pedestrian crossings. Under state law, money from the downtown TIF can be used elsewhere if it’s seen as beneficial to downtown development. Ballard said it’s a good long-term investment because of its potential to spark new business and economic growth in the neighborhoods around campus.
“You have to keep bringing people in, you have to keep the money flow going to provide more income tax and property tax. That’s really what this is about,” Ballard said. “And creating a sense of space in a city that people are proud of. It all works together.”
The deal also includes $20 million – $10 million from Indiana University and $10 million from the Lilly Endowment – to make some much-needed repairs to the Natatorium – a new roof, heating and air conditioning system, pool filtration system and other upgrades. Frank Busch, national team director for USA Swimming, says his organization is prepared to bring its biggest events back to Indianapolis once the repairs are complete.
“Most facilities, if you look at the ones that were built in the ‘70s when they were building football or baseball facilities, are outdated within 30 years or less. This place is over 30 years old, and still maintains its integrity as being one of the best-designed natatoriums in the world,” Busch said.
Most of the Natatorium repairs should be finished in time for the 2016 U.S. Olympic team diving trials in 2016. Construction and rerouting of Michigan and New York streets will begin next year.