Stadium Lofts Transformation Lecture

Initial Condition of the Stadium

• Abandoned baseball stadium in Indianapolis, Indiana.
• State of disrepair:
  • 2,000 cash for clunker cars on the infield
  • 4-foot high weeds, 15-year-old trees growing in the infield
  • Not used as a baseball stadium for a long period

Introduction to Stadium Lofts

• Speakers: Michael Cox and John Watson
  • Michael Cox: 54 years old
  • John Watson: 65 years old
• Transformed the stadium into 138 apartment units
• Four owners: John Watson, his two sons, and Michael Cox

Project Genesis and Development

• John Watson's background
  • Board chair of Indiana Landmarks (historic preservation org.)
  • Conceptualized the apartment idea while at Indiana Landmarks
• City's Involvement
  • City's goal: Catalyst for neighborhood growth, stretch downtown boundaries, and preserve historic stadium
  • Condition: Additional 144 units to be built outside the stadium
  • Four buildings adjacent to the stadium

Financial Mechanics

• Profit Distribution: Proportional to ownership
• Funding Usage: Reinvested in the project and other ventures
• Budget: $14 million for renovating Bush Stadium
  • Stayed within budget
  • Construction loans paid off, replaced with long-term financing

Construction Challenges

• Biggest Concerns:
  • Tenant interest due to lack of housing/economic activity
  • Technically challenging: Construction and engineering to maintain the character while making it livable
• Design Philosophy: Preserve stadium character
  • Retained billboards, outfield brick wall, scoreboard, infield
  • Kept press box, transformed ticket booths into closets

Additional Developments

• Stadium Flats Project: $13 million, fully leased upon completion

Unique Architectural Features

• Interior Features:
  • Studying rooms, fitness center, bullpen (conference room)
  • Courtyard with gas fireplace, tables, chairs
  • Sections with full kitchens, stainless appliances, granite countertops
  • Exposed steel trusses, original roof decking, polished concrete floors
  • Balconies with chain link fencing to maintain stadium look

Community Reception

• Public Interest:
  • High interest from the Indianapolis community
  • Tours created due to widespread curiosity
  • Deep emotional connections to the former stadium
• Public and City Reaction:
  • Delighted with the preservation and new housing development

Personal Reflections

• John Watson's Satisfaction: Culmination of a childhood dream

• Overall Impact: Preservation, community development, and historical significance retained