Though it is a relatively short stretch of space, the area along downtown Indianapolis' canal could mean a lot for developers and for the city. But developers are siding with caution before investing too much in a project highly dependent on a public-private partnership. City officials are hopeful but not too convinced that redeveloping the waterfront to be a destination will actually make it a destination.
"Millions of dollars, much of it public money, have been spent on or committed to upgrading the 1.5-mile Downtown Canal. Efforts are targeting everything from crumbling cement to new multimedia displays under bridges to more easily obtainable liquor licenses."
"The key question now facing city officials: Will it be enough to turn the canal into a must-see cultural and tourist destination?"