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Posh Intercontinental Hotel part of $141M redevelopment plan for two downtown buildings

09/14/2018

Keystone Realty Group plans to spend $141 million on the redevelopment of two key downtown buildings, including $61 million to transform the mostly vacant historic Illinois Building near Monument Circle into the state’s first Intercontinental Hotel.

The Indianapolis-based developer’s proposal also includes an $80 million overhaul of the nearly vacant 23-story AT&T 220 Building at 220 N. Meridian St., converting it into a mixed-use tower containing three restaurants, 131,000 square feet of office space, 160 apartments and more than 300 parking spaces.

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