Developer secures land for $1B Indy Eleven stadium and neighborhood project

INDIANAPOLIS (WISH) — The Indy Eleven soccer team is one step closer to having a home of its own.

The team and property development company Keystone Group announced Friday the acquisition of 20 acres of land in downtown Indianapolis that will serve as the future home of Eleven Park.

Eleven Park will be built on land previously owned by The Diamond Chain Company in an area bordered by West Street, Kentucky Avenue, and the White River on the southwest side of downtown. The property is now owned entirely by Keystone Group.

“We believe this site is the best place to invest, knowing it will have a transformational impact to the south side of Indianapolis,” Ersal Ozdemir, founder and chairman of Keystone Group and Indy Eleven, said in a statement. 

When complete, Eleven Park will offer a hotel, office space, restaurants, apartments, and public spaces. The park will be anchored by a 20,000-seat stadium that can host soccer, lacrosse, football, rugby, and field hockey in addition to concerts and community events.

“This village will be a 365-day-a-year live, work, and play community that will transform this section of Indianapolis, providing jobs and significant economic development to downtown Indianapolis and surrounding areas,” Ozdemir said.

The amount invested in the project is expected to be more than $1 billion, the team says, and all facets outside the stadium project will be developed by Keystone Group. The City of Indianapolis Capital Improvement Board would own the stadium, while Indy Eleven would lease and operate the venue.

Indy Eleven and Keystone Group are still in discussions with the city and the state to finalize the terms of the project, which would allow building demolition and other work to begin next spring.

The team expects to begin play at Eleven Park in spring 2025. The team’s current home is Carroll Stadium on the campus of IUPUI.