A $33-million apartment and retail project along the canal downtown caught fire early this morning. The Cosmopolitan on the Canal project, by Flaherty & Collins Properties, had been nearing completion on a site bordered by the canal, Senate Avenue, Michigan Street and North Street. The three-alarm fire broke out around 3:30 a.m. and also damaged the Historic Landmark Foundation of Indiana building. More than 100 firefighters had the fire mostly under control by about 7 a.m., and no injuries were reported. But it appears one of only a handful of mixed-use developments downtown in recent years will be a total loss.
IBJ has more coverage here. Fellow blogger CorrND has posted photos at Dig-B.
Schouten is an Indianapolis native and Indiana University graduate who joined IBJ in 2006 after stints at the Sarasota Herald-Tribune and the Arizona Republic. He covered the real estate beat for most of those years, and launched the Property Lines blog, before taking over as managing editor in March 2013. He continues to appear on business news updates for Fox59, IBJ's newsgathering partner.
Schouten has been honored for investigative reporting by the Society of American Business Editors and Writers, the Alliance of Area Business Publications and the Society of Professional Journalists in Indianapolis. During his tenure as moderator of Property Lines, the blog was recognized twice as the best among business journals by the AAPB.
Schouten also serves as a member of the board of governors of the Society of American Business Editors and Writers, treasurer of the Indianapolis Press Club Foundation and an adjunct lecturer at the School of Journalism at IUPUI. He lives in Butler Tarkington with his wife and two rescue dogs.