No Canterbury Sale Yet. Canterbury Hotel owner Donald Fortunato said he's getting close to a sale of the 12-story hotel, but the deal is not done. A hotel employee announced at a Wholesale District meeting in July that a sale was complete. Local businessman Fred Klipsch tells Property Lines that an investment group he's involved with participated in discussions to buy the hotel at 123 S. Illinois St., but decided not to go forward with a transaction. Original post.
City Sells Martindale Land. The city has found a buyer for the old Ertel Manufacturing plant at 2045 Dr. Andrew J. Brown Ave. Major Tool and Machine Inc. has agreed to pay $448,267.50 (below the minimum asking price of $548,000) for the 7.5-acre property in the Martindale neighborhood. The company plans to build a new manufacturing facility. The city also agreed to spend about $1.5 million to tear down the old buildings. Original post.
Walsingham Condos Are a Go. The wait is over for renovation of The Walsingham at Delaware and 16th streets. Developer Carlos Figueroa has received final approval from both the Herron Morton Place Foundation and Indianapolis Historic Preservation Commission to build a parking lot on the former home of the Herron School foundry. A chunk of the building collapsed in June, after water pooled on the roof. The $1.1-million project calls for nine condos. Original posts.