The two names that have been publicly floated are "Champions Way", in reference to the Superbowl being hosted here in 2012, and "Hospitality Boulevard", which I guess is a contrived way of fitting the phrase Hoosier Hospitality into a street name.
Both of those names sound absolutely horrible, and if I was a betting man, I'd bet that they came from out-of-town consultants who don't live in Indianapolis.
Then there's the other side of changing street names: Businesses have to change business cards and basically communicate to anyone who sends them mail about the new address.
I actually like what my friend Jon Easter posted on Facebook, naming it after Mayor Bill Hudnut. Hudnut had a vision for Indianapolis and it's due to his administration that this city has grown to what it is today. I won't pretend I'm smart enough to decide if "Hudnut Street" or "Hudnut Place" or whatever rolls off the tongue the most, but I think if chosen well, a new street name would be worth the cost.
But as Aaron Renn over at the Urbanophile points out, it's very, very easy to botch a street re-naming. And it looks like it's going to happen.
Make no mistake about it. IDI and their partners in crime have a name already in mind, and that's the name that will be chosen. This is more or less a publicity stunt for some good PR. And hey, it'll probably work. Still doesn't change that, years after the Superbowl is gone and that miniscule amount of tax revenue is long since spent, we'll have a street named by PR consultants that doesn't fit in with the rest of the streets in the city.