$50M to Convert a Foreclosed Office Tower Into an AC by Marriott. Let's Do the Math.
A foreclosed Art Deco office building on Indianapolis's Monument Circle just sold for $8 million and is headed for a $50 million conversion into a 175-room AC by Marriott. The per-key math tells one story, the tax abatement tells another, and the downtown supply pipeline tells a third that nobody's putting in the press release.
