A New Walkable Base on the East End
Cole Motor holds 213 apartments in two buildings on the east end of downtown Indianapolis. The addresses are 730 E. Washington St. and 752 E. Market St., one block apart, with Market Street running between them. IBJ recorded the former Jail II building at 730 E. Washington St. at 180,000 square feet and the former Arrestee Processing Center at 752 E. Market St. at 100,000 square feet on 19 March 2025.
1820 Ventures developed the campus with an $8.9 million equity investment from Catalyst Opportunity Funds. Catalyst announced the groundbreaking on 20 March 2025. IBJ reported the $84 million overhaul on 19 March 2025, the day before the ceremony.
The unit count carries two figures. Catalyst and IBJ put the campus at 213 units. IBJ described more than 200 multi-family units across the two buildings on 14 August 2026.
What Stood on the Block Before
Both buildings went up between 1911 and 1922 as the home of Cole Motor Car Company, which dissolved in 1925. Industrial tenants followed, including the fastener supplier Service Supply Co. The city took control of the property in 1996 and ran the jail and the arrestee processing center there until both moved to the Community Justice Campus in Twin Aire in 2022.
IBJ put the original plan at about $120 million with an indoor music venue from the owners of The Vogue. Structural challenges at that portion of the project, and interest in other sites, moved the plan to housing and retail. The city demolished a 62,000-square-foot portion of the jail property for structural reasons and paid for the work. The architects on the conversion are DKGR and Meticulous.
Ground-Floor Tenants the Developer Expects
The project carries 30,000 square feet of community-oriented commercial space at ground level. Catalyst expects a local childcare facility to take half of that space, and expects the remaining ground floor to hold similarly community-oriented tenants. Catalyst co-founder and managing partner Jeremy Keele said the firm fills ground-floor commercial spaces with impact-aligned tenants.
IBJ recorded 13,000 square feet of retail plus separate early childhood education space on 19 March 2025, and dated the first retail spaces to as early as 2026. IBJ reported on 14 August 2026 that 1820 Ventures was close to announcing three retail leases. Managing partner Jeremy Stephenson said early leasing activity had been really strong.
No retail tenant, dining operator or childcare provider has been named in the public record. Catalyst holds more than $1.3 billion in real estate across the United States, and Cole Motor is its first investment in Indianapolis.
What a Delegate Can Walk To
These straight-line distances come from the campus position in OpenStreetMap, measured 23 September 2026: 790 m to City Market (0.49 mi), 1,020 m to Gainbridge Fieldhouse (0.63 mi), 1,170 m to Monument Circle (0.73 mi), 1,720 m to the Indiana Convention Center (1.07 mi) and 1,900 m to Lucas Oil Stadium (1.18 mi).
Two hotel addresses sit on the campus street grid. Atlas Hotel at 433 E. Washington St. measures 470 m from the campus and La Quinta Inn & Suites at 401 E. Washington St. measures 540 m. Both figures are straight-line.
Market Street as Shared Space
Catalyst describes Market Street, the corridor between the two buildings, as a public, community-oriented space focused on walkability, outdoor community spaces and public art. The project restores the building facades under approval from the State Historic Preservation Office.
1820 Ventures also controls Elevator Hill, the 13-acre redevelopment of the former Angie's List campus between downtown and Holy Cross. That district carries more than 175,000 square feet of office and retail buildings, more than $250 million of planned infill, and Gathyr Apartments, which opened in 2023.
Transit on Washington Street
Catalyst places the housing and the jobs next to a $370 million bus rapid transit route. IndyGo's Blue Line is the agency's third bus rapid transit line. It will run 24 miles from Indianapolis International Airport to the Town of Cumberland along I-70, Holt Road and Washington Street, and IndyGo schedules it to open for service in 2028.
What the Record Does Not Carry
No dining brand, no opening month for the commercial spaces and no room-night commitment to downtown hotels appear in the source material. Group rate floors, minimum-stay rules and any block of units held for short stays are not published.