The Capital Improvement Board of Marion County voted Friday to commit up to $70 million to the construction of the Signia by Hilton hotel at downtown’s Pan Am Plaza after recent bids for portions of the city-owned project came in over budget.
The cost of the 37-story hotel is now expected to be about $571 million, a 14% increase from the original maximum price of $501 million that city of Indianapolis officials had anticipated. The board is managing the project on behalf of Mayor Joe Hogsett’s administration, alongside the development of an addition to the Indiana Convention Center that will be connected to the 814-room…
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