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Market Square Arena
Market Square Arena.jpg
Location 300 East Market Street, Indianapolis, Indiana 46204
Broke ground October 20, 1971
Opened September 15, 1974
Renovated 1995
Closed October 24, 1999
Demolished July 8, 2001
Owner City of Indianapolis
Construction cost $23 million
Main Contractors Huber, Hunt & Nichols
Tenants Indiana Pacers (National Basketball Association) (1974–1999)
Indianapolis Ice (IHL) (1988–1999)
Indiana Twisters (Continental Indoor Soccer League) (1996–1997)
Indianapolis Racers (WHA) (1974–1979)
Capacity Basketball: 16,530
Ice hockey: 15,993

Market Square Arena was an indoor arena located in Indianapolis, Indiana, USA. The arena, completed in 1974 at a cost of $23 million, seated 16,530 for basketball and 15,993 for ice hockey.


In the late 1960s, the city of Indianapolis studied several market areas of the city for future development and revitalization. Students from the fourth-year design studio class at Ball State University School of Architecture met with the city of Indianapolis to review and select 20-26 projects for consideration. Students Joseph Mynheir and Terry Pastorino selected downtown Indianapolis as their market and designed what would eventually become Market Square Arena. The design envisioned by Mynheir and Pastorino was later selected and used as a promotional tool by the City of Indianapolis for construction of the stadium. Four architectural firms were selected by the city to complete the arena design with two representatives from each of the four companies. Terry Pastorino, who had worked for Kennedy, Brown & Trueblood, Inc., during the summer of 1970 on the project, later joined the firm working on the arena.

The original student design included a four-story office building covering two city blocks. The Market Square Arena as constructed consisted of a unique space frame design spanning Market Street. The playing floor was elevated over Market Street by parking garages on either side of Market Street. Market Street terminated at Market Square Arena to the east and to the west by the capitol building. The final design eventually took up one city block spanning Market Street.

Market Square Arena was the home of the Indianapolis Racers of the WHA from 1974–1979. 17-year-old Wayne Gretzky starred for the Racers in his first professional action before being traded to the Edmonton Oilers after a handful of games.


The Pacers moved to the new Conseco Fieldhouse for the 1999–2000 NBA season, and Market Square Arena was demolished on July 8, 2001, in a multi million-dollar implosion.

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