INDIANAPOLIS (WISH) — A new $50 million training facility is on the horizon for the Indiana Pacers.
The facility would be built at the Elevated Lot, which is a parking lot used by fans on Delaware Street just south of Virginia Avenue.
Pacers Sports & Entertainment are footing the entire $50 million bill, as well as operational costs and fees that would go to the Capital Improvement Board.
CIB owns the land and currently leases it to PSE. The new deal wouldn’t change that. Once built, the Pacers would have a 40-year lease with CIB.
The president of the CIB, Earl Goode, said the training facility would bring a significant number of well paying jobs. Goode also says the facility would further tie the Pacers to Indianapolis.
The facility is expected to be five stories and 130,000 square feet.
Pacers Sports & Entertainment spokesperson Bill Benner says it’s necessary to stay competitive with the NBA.
“Since 1999 when Bankers Life Fieldhouse, opened 20 NBA teams have either built or are in the process of opening or have announced plans to build standalone facilities. The competition for free agents is key, as we’ve seen in the Pacers and everyone in the NBA,” said Benner.
The facility is expected to take a year and a half to two years to complete. The Pacers are having a news conference Wednesday morning at 10:30 to discuss plans in further detail.