Property Lines

Welcome to Property Lines, Indy's source for neighborhood real estate news. Your host is Scott Olson, IBJ's real estate beat reporter. Founded by Cory Schouten.
Real Estate & Retail

Wheels in motion to select developer of MSA site

May 16, 2013
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Market square redevelopment site 225pxThe competition to redevelop a downtown parking lot where Market Square Arena once stood is beginning to heat up. The city last month received bids from six teams, all proposing mixed-use projects ranging in size from eight to 52 stories. Though city officials remain mum on specific details of each proposal, this much is clear: They began interviewing candidates this week, according to Deron Kintner, deputy mayor of economic development. “After that, we’ll have all the information to begin narrowing it down,” he said. A source close to the process thinks the city could announce the finalists within the next two to three weeks. IBJ gathered enough information to name in its April 22 issue four of the six development teams submitting proposals. They are: Browning Investments and The Whitsett Group; Flaherty & Collins Properties; Keystone Group and Forest City Enterprises; and Milhaus Development and REI Real Estate Services LLC. The other two teams, according to Kintner, are Kite Realty Group and Buckingham Cos.; and Barrett & Stokely Inc. and Ryan Companies US Inc. The city called for proposals to include a high-rise building well beyond four stories above a major retail component on the ground level. Wagers on who submitted the 52-story proposal?

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