INDIANAPOLIS (WISH) – According to Marion County property records, the King Cole building is 40,000 square feet of retail and office space. Included in that is 8,000 square feet of restaurant space.

The new owner of the building lists an address in Chicago that is shared with the Getty Group, a company that provides design and branding services to the hotel industry. Will the King Cole building become a hotel? News 8 reached out, however, our phone calls were not returned.

Just outside the Mile Square, on South Meridian Street, there are four hotels in the planning stages or under construction. These projects will bring close to 600 rooms to Indianapolis.

Brian Shapiro is the owner of Shaprio’s Deli, the third generation from his family to run the business. He is also building one of four new hotels in the Stadium Village area. The hotel he has proposed is called Even.

“The select-service hotels fit nice into this because, first, they are not as fancy and the data for people under 50, they want smaller rooms, but they also want them to be comfortable and they also want creature comforts,” Shapiro said.

Plans are in place to build a Cambria Suites hotel right next to the Shapiro’s parking lot. The hotel will bring close to 150 rooms to the area and is expected to break ground in November.

Tru by Hilton and TownePlace Suites by Marriott will add 150 rooms each, and are expected to open next fall. These properties are designed for business travelers and sports fans with downtown, Lucas Oil Stadium and pharmaceutical giant Eli Lilly and Co. within walking distance.

These are the first new hotels built in the Stadium Village area in decades but are most likely not the last.