INDIANAPOLIS— CityWay, a transformative new 14‐acre neighborhood in the heart of Downtown Indianapolis, celebrates a major construction milestone today as project stakeholders, city officials, local businesses and the on‐site construction team gathered at the project site this morning for a formal topping out ceremony. The ceremony signifies a major completion milestone in the project, as the highest beam was placed atop The Alexander, a Dolce Hotel, a 209‐room luxury art hotel. Buckingham Companies, CityWay’s developer, expects the first of the neighborhood’s 250 luxury apartments to open in October 2012, with The Alexander and retail anchor Cerulean Restaurant to open in December 2012. 

CityWay is the first master‐planned neighborhood in Indianapolis’ central business district and creates a dynamic new destination neighborhood in the city where people can live, work and play. 

“This milestone celebrates outstanding construction progress to date and the strong collaboration between all of the partners involved in this transformative project,” said Brad Chambers, president and CEO of Buckingham Companies. “We are on track to deliver an exceptional new neighborhood asset to the city that is dynamic, state‐of‐the art and well‐designed for all – our residents, hotel guests, shoppers, diners and visitors.”

“This new neighborhood community coming to life in Downtown Indianapolis is both culturally significant and of great economic benefit to our city,” said Mayor Greg Ballard. “New jobs, sustainable building and lifestyle elements, and a unique art program partnership with the Indianapolis Museum of Art are a few aspects of this project creating another point of pride for Indianapolis.” 

CityWay is situated in an area north of South Street between Delaware Street and Virginia Avenue, and it bridges the heart of Downtown Indianapolis with many of the city’s most important corporate campuses, including Eli Lilly & Company, Wellpoint, Indiana Farm Bureau and Rolls‐Royce. 

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About CityWay

CityWay, is a dynamic new 14‐acre neighborhood in the heart of downtown Indianapolis that encompasses a 209‐room art hotel, destination restaurants, 250 luxury apartments, 40,000 square feet of retail and office space, and a state‐of‐the‐art YMCA. With a pedestrian‐friendly urban design, the mix of public spaces, offices, residential and retail will make CityWay an attractive place to work, play and live, and will serve as a catalyst for future development in the surrounding neighborhood. For more information, visit www.cityway.com. 

About Buckingham Companies

Founded in 1984, Buckingham is a full service, fully integrated, real estate company that includes the development, acquisition, management and construction of a wide range of property types including multifamily, student housing and mixed‐use communities. Buckingham manages nearly $1 billion of real estate assets for its own account, clients and institutional partners. More than 90 properties consisting of nearly 15 million square‐feet of property, and approximately 15,000 rental units nationwide comprise the managed portfolio. Additionally, Buckingham Foundation annually supports more than 45 nonprofit and civic organizations through philanthropic outreach in the areas of affordable housing, community and economic development, and arts and culture. For more information, visit www.buckingham‐co.com. 

About The Alexander, A Dolce Hotel

The Alexander will be managed by Dolce Hotels and Resorts, a leader in the meetings industry. The hotel is the anchor of the CityWay neighborhood of Indianapolis, offering 209 guest rooms, suites and extended stay accommodations; over 14,000 square feet of indoor and outdoor meeting and event venues that meet stringent International Association of Conference Center standards; and a range of dining and entertainment options for both hotel guests and the community. For more information, visit www.thealexander.com.