What Opened and When
IBJ reported on 14 August 2026 that ten residents would move into Cole Motor's north building the following week. The same report dates the north building's completion within the following month, the south building's occupancy to November, and the rest of the campus to the end of 2026.
Catalyst Opportunity Funds and 1820 Ventures announced the groundbreaking on 20 March 2025. IBJ priced the overhaul at roughly $84 million on 19 March 2025, against an original estimate of about $120 million. That report dated residential availability to the third quarter of 2026 and total completion to early 2027.
The Two Buildings
The former Marion County Jail II stands at 730 E. Washington St. IBJ records 180,000 square feet there. The former Arrestee Processing Center stands a block north at 752 E. Market St. at 100,000 square feet. Market Street runs between the two.
IBJ describes the campus as an about 300,000-square-foot mixed-use project. Both buildings went up between 1911 and 1922 for the Cole Motor Car Company. The company dissolved in 1925. Industrial tenants followed, among them Service Supply Co., a fastener supplier in the mid-20th century. The city acquired the properties in 1996 and used them as jail facilities. The jail and the arrestee processing center moved to the Community Justice Campus in the Twin Aire neighborhood in 2022.
Condition and Restoration
The city demolished a 62,000-square-foot portion of the jail property for structural reasons and paid for the demolition. The remaining structure was kept and converted. Catalyst describes the work as an adaptive reuse that reuses carbon-intensive building elements, including the foundation, structure and building envelope.
Catalyst states the façade will undergo restoration approved by the State Historic Preservation Office. Upper residential floors carry exposed ceilings and factory-style windows.
The ceiling height carries two published figures. Catalyst's release says 13-foot ceilings on the upper residential floors. IBJ's August 2026 report says 12-foot ceilings, oversized industrial windows and polished concrete flooring in select residences, attributed to Cole Motor. DKGR and Meticulous are the architects, per IBJ's March 2025 report.
The Residential Programme
Catalyst and IBJ put the campus at 213 units. IBJ's August 2026 report describes more than 200 multi-family units across the two buildings. IBJ records one-bedroom rents starting at $1,400 and two-bedroom rents starting at $2,000.
Catalyst states the project prices the majority of the 213 units at workforce affordable levels and deed restricts 5 percent of the units at prices affordable to households below 30 percent of the Area Median Income. Catalyst made an equity investment of $8.9 million.
The Commercial Floor
Catalyst announced 30,000 square feet of ground-floor commercial space. The release states Catalyst and 1820 Ventures expect a local childcare facility to take half of it. IBJ's March 2025 report described 13,000 square feet of retail plus separate early childhood education space. IBJ's August 2026 report returns to about 30,000 square feet for retail and quasi-commercial uses.
Jeremy Stephenson, managing partner at 1820 Ventures, told IBJ in August 2026 that the developer was close to announcing three retail leases. "Our early leasing activity has been really strong," he said.
Market Street
Catalyst reworked Market Street, the connector between the two buildings, as a public and community-oriented space. The corridor design focuses on walkability, outdoor community space and public art. 1820 Ventures describes the campus as knitting back together the Cole Noble and Holy Cross neighborhoods.
What the Record Leaves Open
The childcare operator and the three retail tenants have no named publisher. A signed commercial lease has no published date. Unit counts by bedroom type are not published. The south building's completion is published as late 2026.