Canal Square Apartments | Downtown Indianapolis Living Canal Square Apartments offers studio, one-, and two-bedroom homes with modern finishes, open layouts, and select units featuring stunning city or pool views. Located in the heart of downtown Indianapolis on the Canal Walk, directly across from Indiana University Indianapolis (IU Indianapolis) and Purdue University in Indianapolis, residents enjoy easy access to top employers, entertainment, and cultural attractions. With premium amenities, including a fitness center, resident lounge, and pool with a sun deck, Canal Square delivers the perfect balance of comfort and convenience. Schedule your visit today and experience city living at its best.