Hendricks Commercial Properties announced Traction Yards on December 12, 2025 as the name and brand for the redevelopment of the former Circle Centre Mall in downtown Indianapolis. The release describes a two-city-block property rebuilt as a mixed-use district, with an open-air urban neighborhood, retail, dining, entertainment, residential living, office space and public plazas. The name references Indianapolis' industrial and rail heritage.
The programme in that release covers approximately 400,000 square feet of retail, dining and entertainment space, 100,000 square feet of office space and more than 300 residential units. HVS puts the redevelopment at $600 million with over 100,000 square feet of public gathering areas.
The site is 49 W Maryland Street, per the project's own site. The developer's Indianapolis property record gives the year built as 1995, lists 2,700 parking stalls and carries a 2029 projected opening. Hendricks Commercial Properties is headquartered in Beloit, Wisconsin, and Rob Gerbitz is its president and chief executive.
The Handover Ran to December 31
The December release states that tenants inside the mall were told to vacate by December 31, 2025. Construction is underway, portions of the existing mall are closed to prepare for redevelopment, and exterior-facing businesses keep serving visitors through the transition. Gerbitz described full vacancy as an essential next step in the process.
Phase 1 Starts in 2026
Visit Indy's construction-updates page, last updated July 2026, records the closures around the site. Capitol Avenue is closed from Ohio Street to South Street for through traffic through September 2026. Illinois Street is closed from South Street to Georgia Street. Georgia Street between Capitol Avenue and Illinois Street is closed to vehicles and pedestrians. The page states that the parking garages are unaffected and that street-level businesses along Meridian Street are unaffected.
The page also records the skywalk changes. The link between the mall and the World of Wonders Parking Garage is temporarily closed, and the link between the Omni Severin Hotel and the mall is permanently closed.
What Stays Open
Visit Indy's construction FAQ states that all businesses on Meridian Street remain open throughout the development, and that affected tenants on Illinois Street have relocated to temporary addresses. The food court inside Traction Yards closes during construction. The Traction Yards parking garages stay open.
Two Phase Dates Sit on the Record
The first major phase carries more than one published date. The December 12, 2025 release, the developer's property record and Visit Indy's new-developments page all target 2029.
A 2030 date also stands. HVS, in a September 8, 2025 note on the downtown Indianapolis hotel market, writes that phase one broke ground in 2025 and is scheduled for completion by 2030. Visit Indy's construction-updates page states that the current phase, the southern end of the existing footprint, is scheduled for completion by 2030.
The same page puts Signia by Hilton and the Indiana Convention Center expansion at a Q4 2026 completion, and Georgia Street and the Union Station underpasses at Fall 2026.
What Is Still Unbuilt
No published schedule assigns a delivery date to the retail units, the office space or the residential buildings. The 400,000 square feet and the 100,000 square feet are programme figures for a district under construction.
The developer's release states nothing about a hotel inside the district. No publisher states the phase-one opening month, the number of retail units, the office leasing schedule, the residential delivery schedule or the tenant mix for the 400,000 square feet.
The release directs readers to tractionyards.com for skywalk access, parking, redevelopment plans and leasing opportunities.