INDIANAPOLIS (WISH) – Indianapolis-based event production company MOKB Presents announced it will build a new 1,200-person indoor music venue in Fountain Square.

It will be at the site of the Hi-Fi Annex, an outdoor music venue behind the Murphy Arts Center.

According to a press release on Monday, the space will open in “early 2026.”

The new venue will nearly double the size of its current space. Plans include a concert hall and a speakeasy-style basement space for smaller shows.

Venue officials hope the project will address neighborhood concerns surrounding parking and some regulatory challenges.

MOKB Partner and Vice President of Events Dan Kemer says they will continue the space’s community-centered approach.

“Fans can expect our continued commitment to delivering high-caliber entertainment and exceptional customer service—hallmarks of the experience we’ve provided over the past ten years at HI-FI and the first five years of HI-FI Annex,” Kemer said. “The new space and increased capacity perfectly complement our growing group of venues… we’re uniquely positioned to support artists, managers, and agents year-round at every stage of an artist’s career.”

The Hi-Fi Annex was originally opened as a temporary outdoor venue to host concerts during the pandemic.

CEO Josh Baker says this new venue will be built where the Granada Theater once stood, a nod to Fountain Square’s entertainment history.

“This neighborhood was built on entertainment,” Baker said. “After being separated from the city by the creation of the I-65 interstate, it lost much of its audience and regular traffic. HI-FI, along with our fellow Fountain Square businesses, has been aggressively working to recreate the elements that long defined this area.”

Monday’s announcement also means 2025 will be the final outdoor season for the HI-FI Annex. Its season typically runs from Apr.-Oct. The venue will announce its schedule for the last season soon.

MOKB says over the last ten years, events at Hi-Fi’s three venues have brought more than 500,000 visitors to the neighborhood.