Market Square Arena was a multipurpose indoor arena located at 300 East Market Street in downtown Indianapolis, Indiana. Opened on September 15, 1974, at a construction cost of $23 million, it seated 16,530 fans for basketball (up to 18,178 with festival seating) and ranked as the fifth-largest sports arena in the United States on the day it first opened its doors.
Over 25 years, it served as home to the Indiana Pacers through both their ABA and NBA eras, watched a teenage Wayne Gretzky take his first professional strides on hockey ice, witnessed Michael Jordan’s celebrated 1995 comeback game, and — above all — hosted Elvis Presley’s final concert on June 26, 1977. Demolished by controlled implosion on July 8, 2001, Market Square Arena left behind a legacy that few arenas anywhere can match.
Quick Answer
Market Square Arena was located at 300 East Market Street, Indianapolis, Indiana 46204. It held 16,530 fans for basketball (maximum 18,178 with festival seating), opened on September 15, 1974, closed on October 24, 1999, and was demolished by controlled implosion on July 8, 2001. It is best remembered as the longtime home of the Indiana Pacers and the site of Elvis Presley’s final concert in 1977.
Location: Where Is Market Square Arena?
Market Square Arena stood at 300 East Market Street in the heart of downtown Indianapolis, Indiana — a few blocks east of Monument Circle and adjacent to the historic Indianapolis City Market. Its central location made it the de facto hub of downtown civic life for a quarter century.
One of the building’s most unusual structural features was its elevated playing floor, which literally spanned Market Street, supported by twin 1,400-space parking garages on either side of the road below. The arena’s convex space-frame roof had a 364-foot clear span and rose 150 feet from floor to ceiling; constructed by the American Bridge Division of U.S. Steel, it was among the largest Swelder domes ever built at the time.
The arena was part of a broader Market Square complex near Indianapolis City Market, hence its name. Today, the footprint at 300 East Market Street is occupied by the 360 Market Square apartment tower (which includes a 40,000-square-foot Whole Foods Market, opened March 2018) and the Cummins Global Distribution Headquarters (opened January 2017) on the southern half of the site.
Capacity: How Many People Did Market Square Arena Hold?
Market Square Arena’s standard seating capacity was 16,530 for NBA basketball and 15,993 for ice hockey. When the floor was opened for festival (general admission) seating, the arena could accommodate up to 18,178 people — the approximate crowd size for Elvis Presley’s final concert in June 1977.
On the day it opened in September 1974, the arena was the fifth-largest sports venue in the United States, a reflection of both Indianapolis’s ambition and the building’s architectural scale. Its capacity remained competitive throughout its operational life, comfortably hosting NCAA tournaments, Pan American Games competition, and sold-out Pacers playoff games.
History and Tenants
The arena’s design concept originated with Ball State University architecture students Joseph Mynhier and Terry Pastorino in 1970. Four architecture firms — including Kennedy, Brown & Associates and McGuire & Shook Corporation — collaborated to translate that vision into the brutalist/early post-modernist structure that opened four years later. The first event held inside was a Glen Campbell concert on opening night, September 15, 1974.
The Indiana Pacers were the anchor tenant from the very beginning, continuing play from their American Basketball Association days through their entry into the NBA in 1976 and all the way through the 1998–99 season. The Indianapolis Racers of the World Hockey Association shared the building from 1974 until the franchise folded in December 1978. The Indianapolis Checkers also played at Market Square Arena in two separate stints — first in the Central Hockey League and later in the IHL (1979–1981 and 1985–1987).
Major events punctuated the arena’s calendar throughout its life. It hosted the 1980 NCAA Men’s Basketball Final Four and the basketball competition at the 1987 Pan American Games, both of which brought national and international attention to Indianapolis. Alongside its sports schedule, the venue drew major touring concerts, circuses, evangelists, and community events, making it one of the busiest arenas in the Midwest.
Legendary Moments
Wayne Gretzky made his professional hockey debut at Market Square Arena in 1978 as a 17-year-old with the Indianapolis Racers. He played only eight games on that ice before the struggling franchise sold his contract to the Edmonton Oilers — but those first professional appearances, in downtown Indianapolis, mark the opening chapter of the greatest career in hockey history.
On June 26, 1977, Elvis Presley performed the last concert of his life at Market Square Arena before a crowd of approximately 18,000 fans. He died at Graceland seven weeks later, on August 16, 1977, cementing that Indianapolis show as one of the most significant nights in rock-and-roll history. A commemorative plaque was later installed on the parking lot that replaced the building.
Michael Jordan wrote one more memorable page on March 19, 1995, when he returned to NBA action at Market Square Arena after his first retirement. The Bulls-versus-Pacers game became the most-watched regular-season NBA game in two decades. In a single building across a single generation, Indianapolis fans witnessed Gretzky’s first professional steps, Presley’s final bow, and Jordan’s triumphant return.
Closure, Demolition, and the Site Today
The Indiana Pacers played their final game at Market Square Arena on October 23, 1999, then relocated to the newly built Conseco Fieldhouse (since renamed Gainbridge Fieldhouse) for the 1999–2000 NBA season. With its anchor tenant gone and no viable replacement use identified, the arena sat vacant for nearly two years.
On July 8, 2001, Controlled Demolition, Inc. brought the entire 16,530-seat structure down in a controlled implosion lasting approximately 12 seconds. The blast drew a large crowd of spectators and marked the end of an era for Indianapolis sports. The cleared land was used as surface parking for several years before the two-phase redevelopment that produced the Cummins headquarters in 2017 and the 360 Market Square residential tower with Whole Foods in 2018.
market square arena indianapolis FAQs
Where is Market Square Arena?
Market Square Arena was located at 300 East Market Street in downtown Indianapolis, Indiana 46204. The arena was demolished in 2001; the site is now occupied by the 360 Market Square apartment tower (with Whole Foods) and the Cummins Global Distribution Headquarters.
What was Market Square Arena’s seating capacity?
Market Square Arena seated 16,530 for NBA basketball and 15,993 for ice hockey. Its maximum capacity with festival (general admission floor) seating was 18,178 — the approximate attendance for Elvis Presley’s final concert in 1977.
When did Market Square Arena open and close?
Market Square Arena opened on September 15, 1974, with a Glen Campbell concert, and officially closed on October 24, 1999, after the Indiana Pacers played their final game there the night before and moved to Conseco Fieldhouse.
Why is Market Square Arena historically significant?
Market Square Arena is famous for hosting Elvis Presley’s final concert on June 26, 1977 — he died seven weeks later. It is also where Wayne Gretzky made his professional hockey debut in 1978 and where Michael Jordan played his 1995 NBA comeback game, making it one of the most event-rich arenas in American sports history.
When was Market Square Arena demolished?
Market Square Arena was demolished on July 8, 2001, in a controlled implosion performed by Controlled Demolition, Inc. The entire structure collapsed in approximately 12 seconds.
What replaced Market Square Arena?
The Indiana Pacers moved to Conseco Fieldhouse (now Gainbridge Fieldhouse) in 1999. The Market Square Arena site was later redeveloped: Cummins Global Distribution Headquarters opened in January 2017 and the 360 Market Square apartment tower with a Whole Foods Market opened in March 2018.
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