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INDIANAPOLIS — Downtown Indianapolis business is making a comeback, slowly but surely.

Downtown Indy, Inc. held a large, in-person meeting Thursday to discuss the latest annual report. That meeting took place at the Hilbert Circle Theatre – the first large event at the theatre since last year.

Sherry Seiwert, President of Downtown Indy Inc. tells WISH-TV she believes the report shows signs of progress. Seiwert says even though we were going through a pandemic in 2020, the value of new developments totaled around $413 million.

She believes the success of the NCAA Tournament and several small events have helped boost downtown business.

Seiwert tells WISH-TV, “showing that we can continue to host events safely sends a message to the world that Indianapolis can get it done.”

Also at the meeting was Leonard Hoops, President and CEO of Visit Indy. He tells WISH-TV big sports events help bring people to the city, and once they’re here, they realize there’s so much more to do in the Circle City.

“Downtown has really been in much better shape that I think most people realize for a long time, but it takes things like the NCAA even to get people back to see what’s happening,” Hoops explains to WISH-TV.

Hoops says that this past Saturday, Marion County and other surrounding counties recorded the ninth-most hotel rooms ever sold. There weren’t any major events, just several small ones. But it doesn’t seem to matter – people are ready to come outside.

Hoops tells WISH-TV, “I think that’s a good sign of the pent-up demand; people just want to get out and do something.”