I saw that last week. Being intimately familiar with Armory Fieldhouse, UC's home since 1949 for indoor T&F, my take is that UC has finally concluded on NOT building an indoor facility for UC. ALSO, the undersized 175 meter track that has been in Armory since 1988/89, will no longer be used. UC is land-locked with absolutely no room on campus for an indoor 200m track facility to build. I speculated long ago that the ONLY way to reconfigure Armory for a 200m track was to dig DOWN and expand outward. A lot cheaper to do the Dome route.
I also speculate that UC may be signaling that Armory's days are numbered. It is now a 74-year old facility, and doesn't meet current demands of student needs. I will be sad to see it go if that's the case, but if so, it is what is.
FYI - Indoor track doesn't include 400 meter tracks. The big 300 meter tracks aren't legal for races over 60 meters for record consideration by NCAA.