Apartments

New owner to rehab two century-old apartment buildings

September 19, 2009
 IBJ Staff
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Apartments near downtown canal slated for rehab

September 15, 2009
Tom Harton
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Downtown apartment complex expanding

September 5, 2009
 IBJ Staff
The developer of The Waverley apartments downtown has filed plans to expand the complex because of high demand for one-bedroom units.
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Affordable housing developers struggle as key funding source disappearsRestricted Content

August 24, 2009
Kathleen McLaughlin
Affordable housing developers nationwide are facing a drastically weaker market for tax credits.
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Plans emerge for Winona Hospital redevelopmentRestricted Content

August 3, 2009
Cory Schouten
The Children’s Museum of Indianapolis wants the city to tear down the old Winona Memorial Hospital so it can build a community park and outdoor learning center. A private firm that specializes in environmentally impaired properties wants to turn the building into senior apartments.
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EDITORIAL: Project near MSA may be worth the riskRestricted Content

June 22, 2009
The city has unveiled a dramatic plan for new housing and retail development to revitalize the old Market Square Arena site. Despite some shortcomings, the project deserves a chance to give the stagnant area a boost.
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Cultural Trail spurs development plan along Virginia AvenueRestricted Content

June 8, 2009
Cory Schouten
A local architecture firm hopes to challenge hip Mass Ave with an arts-themed development in Fletcher Place. The $9 million project would include apartments, retail and office space.
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Developer wants to turn project into apartments, officesRestricted Content

May 25, 2009
Cory Schouten
A local developer is hoping to convert an unfinished eight-story luxury condo project downtown into a mostly affordable apartment building with its headquarters on the top floor.
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Flaherty selected to revitalize Barton, Lugar tower sitesRestricted Content

May 18, 2009
Locally based Flaherty & Collins Properties plans to build retail and residential space on land that surrounds two downtown public housing towers.
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Few private firms survive to third generationRestricted Content

March 30, 2009
Cory Schouten
The Gene B. Glick Co. has managed to accomplish what few privately held family enterprises can—keeping the company alive for a third generation.
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A new generation takes over Glick apartment empire

March 30, 2009
Cory Schouten
A new generation of company leadership is revving the Gene B. Glick Co. and building and buying apartment complexes again.
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Developer could turn Maxwell to apartmentsRestricted Content

March 23, 2009
Sluggish condo sales have led developer Kosene & Kosene Residential to consider turning its latest downtown project, The Maxwell, into apartments.
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Penn Arts redevelopment hits funding snagRestricted Content

January 26, 2009
The Penn Arts apartment building at 16th and Meridian streets will stay vacant a while longer. A $3 million plan to transform the 82-unit apartment building into 45 fancier units has hit a snag that's become familiar to developers: No financing was available at advantageous terms
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Former hospital could become student housingRestricted Content

January 19, 2009
Cory Schouten
Ivy Tech Community College is working with private developers on an $18 million plan to turn the old St. Vincent Hospital on Fall Creek Parkway into a housing complex for Ivy Tech and IUPUI students.
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Apartment revitalization work begins in IrvingtonRestricted Content

December 22, 2008
Apartment developer Christopher Piazza has closed on financing for a $1.2 million renovation of a 1914 apartment building in Irvington.
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IndyFringe leads effort to build artists' apartmentsRestricted Content

November 10, 2008
Kathleen McLaughlin
Indy Fringe executive director Pauline Moffat and Gary Reiter, a board member of the Indianapolis Theatre Fringe Festival Inc., want to build an affordable live-work complex near Massachusetts Avenue.
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Developers vie for property by Central LibraryRestricted Content

June 9, 2008
Chip Cutter
Two high-profile property developers are squaring off for the rights to transform a six-story apartment complex adjacent to the Central Library downtown. Van Rooy Properties and Buckingham Cos. both submitted proposals to redevelop the Ambassador apartments at 39 E. Ninth St., just north of the library.
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Zender trying to sell 18 apartment complexes for about $40 millionRestricted Content

June 2, 2008
Chip Cutter
A locally based property management firm is struggling to find a buyer for its downtown apartment complexes, even as the city's rental market continues to thrive. The privately owned Zender Family Limited Partnership, which was founded 38 years ago, placed its 18-property apartment portfolio up for sale in November.
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Renovated Central Library spawns neighborhood revivalRestricted Content

April 28, 2008
Cory Schouten
A local developer plans to spend up to $45 million building a "north village of downtown" on several parcels it has assembled near the Central Library. Buckingham Cos. plans to build apartments, offices, restaurants and retail space-all surrounding its headquarters in the three-story Stokely-Van Camp building at the southeast corner of Meridian and St. Joseph streets.
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High-rise in works near canalRestricted Content

November 12, 2007
Cory Schouten
A strong demand for student housing downtown is driving a $40 million plan for a high-rise apartment tower a couple of blocks east of the Central Canal. The developer, a partnership of Fishers-based Paramount Realty Group and Indianapolis-based Alboher Development Co. Inc., hopes to build the 16-story Paramount Tower on a OneAmerica parking lot.
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New Glick exec puts expansion on agendaRestricted Content

May 28, 2007
Tracy Donhardt
It can be intimidating to be tapped by a legend and charged with growing one of central Indiana's best-known companies. But David Barrett, three weeks into his role as executive vice president of Gene B. Glick Co. and less than half the age of its still-working founder, says he isn't the least bit nervous.
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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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