The City of Westfield announced Dec. 19 that a newly formed entity, Grand Park Sports & Entertainment, will take over management and development of Grand Park.
The public-private partnership involves Keystone Group, Indy Sports & Entertainment, Indy Eleven and Bullpen Ventures and comes at the conclusion of a 21-month evaluation process by a city-formed review committee.
Indy Sports & Entertainment and Bullpen Ventures will manage the youth sports facilities. They will also work to attract large sporting and entertainment events and diversify Grand Park’s current sports offerings.
Keystone Group, an Indianapolis-based developer of mixed-use properties such as Eleven Park, the 20,000-seat multi-purpose stadium coming to downtown Indianapolis, will be the development partner for Grand Park.
“As we look at what’s next, we have always endeavored to keep Grand Park on top,” Westfield Mayor Andy Cook said. “We want it to be as desirable in 25 years as it is today.”
The City of Westfield will retain ownership of Grand Park, with the terms of the memorandum of understanding outlining Grand Park Sports & Entertainment’s commitment to the development and management of the campus for up to 40 years, valued at $300 million to the City of Westfield.
“Buckle up,” Mayor-elect Scott Willis said. “We’ve got a lot to do.”
