One of Monument Circle’s most recognizable high-rises is officially headed for hotel duty. Circle Tower has changed hands as developers advance plans to convert the historic office building into an AC Hotel by Marriott, complete with new guest rooms and a rooftop bar looking straight at the Soldiers and Sailors Monument. The team behind the project says street-level shops will stay put while the upper floors are reimagined for hospitality and meeting space.
According to the Indianapolis Business Journal, the 14-story property at 55 Monument Circle was acquired Tuesday by the ownership group backing the hotel conversion. The purchase clears a major hurdle for the project, although the sale price was not disclosed publicly. The deal follows redevelopment plans that first surfaced last year.
What’s planned
Holladay Properties, in partnership with local operator Dora Hospitality, has proposed turning 11 of Circle Tower’s floors into a 175-room AC Hotel by Marriott while keeping three floors of street-level retail, according to a company release. Plans call for pairing the brand’s European-inspired interiors with preserved Art Deco features, along with an eleventh-floor outdoor terrace and AC Lounge and AC Kitchen food-and-beverage spaces. Holladay has said it will own the property and operate the hotel in partnership with Dora Hospitality.
The redevelopment is being pitched as a roughly $40 million project featuring a rooftop bar and other amenity space, and developers plan to seek city support through the Metropolitan Development Commission on any tax-abatement request, as reported by WRTV. The station also quoted Holladay Vice President Jordan Corbin saying existing tenants would be allowed to remain during and after construction, and noted a proposed annual donation of $50,000 to Spark on the Circle. A food vendor at the base of the building told reporters he welcomed the prospect of more tourists stopping directly on the circle.
A century of history
Circle Tower was built in 1929-30 and is a 14-story Art Deco landmark at 55 Monument Circle. It is a contributing property in the Washington Street - Monument Circle Historic District and was added to the National Register of Historic Places in 1997. With stepped, ziggurat-like upper floors and Egyptian-inspired ornament, it is among the most distinctive structures on the circle, and developers say those character elements will stay intact even as interiors are reworked for hotel use, according to project materials and historical records. For more historical context on the tower and its designation, see Wikipedia.
What’s next
Developers still need local approvals before any construction starts, and the team says it is preparing for public review of financing and permits while working to limit disruptions for street-level businesses. The sale and conversion plan were reported by the Indianapolis Business Journal and outlined in company materials and other local coverage that point to an opening targeted for late 2027 if approvals and construction stay on track. Upcoming city hearing dates and the Metropolitan Development Commission docket will determine the next public milestones for the project.
