Construction

'Buy local' law doesn't sting Indy sewer project

August 19, 2011
Francesca Jarosz
A new state law that could add to the cost of public works projects didn’t impact one of Indianapolis’ most sizable bids this year.
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City to give Angie's List $4.6M to buy properties for expansion

August 16, 2011
Kathleen McLaughlin
Money for real estate acquisition is a major component of the $7.1 million in incentives the city of Indianapolis offered Angie's List Inc. for expanding its headquarters campus to accommodate 500 more employees.
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Not-for-profit building affordable housing in Brownsburg

August 2, 2011
 IBJ Staff
Sycamore Services Inc., which serves people with disabilities, has closed on $8 million in financing to build a 72-unit apartment community in Brownsburg.
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Keystone Towers implosion set for late August

August 1, 2011
 IBJ Staff
The long-vacant Keystone Towers apartment complex will be imploded Aug. 28 at 8 a.m., the Department of Metropolitan Development announced Monday afternoon.
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Bush Stadium rehab is Watson's latest creative projectRestricted Content

July 16, 2011
Katie Maurer
Longtime Indianapolis developer launches spirited attempt to save baseball palace.
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Rejected bidder cries foul over demolition of Keystone Towers

June 28, 2011
Scott Olson
Titan Wrecking & Environmental bid about $255,000 less than the winning proposal to demolish Keystone Towers, but was rejected because of missing paperwork. The company owner says the city could have overlooked the omissions to save taxpayers money.
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16 Park project helping to transform Indianapolis neighborhoodRestricted Content

June 25, 2011
Scott Olson
The first building of a new complex on near-north side is set to be completed in August
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Eco-friendly downtown supply store closes

June 9, 2011
Chris O'Malley
Green Way Supply, a pioneering green construction products store, has gone out of business, but one of its partners is planning a new building supply store with mix of green and traditional products.
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Error removes limits from Indiana project wage law

June 9, 2011
Associated Press
A mistake in a bill that legislators meant to loosen wage requirements on government construction projects in Indiana will put all such projects — regardless of cost — under the regulations.
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Officials say bridge project can be changed

June 2, 2011
Associated Press
Officials who want to build two new bridges over the Ohio River and redo a downtown interchange announced Thursday that they've found ways to cut the cost of the project by more than $1 billion.
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Area home-building activity shows April uptick

May 16, 2011
In the nine-county area, the number of building permits filed in April climbed to 361, an increase of 10 percent from the same month in 2010.
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City seeks bids for $300M sewage tunnel system

May 9, 2011
Cory Schouten
City officials are seeking bidders for the first phase of Indianapolis' largest-ever public works project, an underground tunnel system equipped to store millions of gallons of raw sewage and prevent the excrement from flowing into local waterways.
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Rethinking Monument Circle in Indianapolis

April 30, 2011
Gabrielle Poshadlo
IBJ gathered advice from local and national experts about what should be done to improve the city's most prominent public space and where Indianapolis should look for inspiration.
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Local architectural firm Woollen Molzan disbands

April 27, 2011
Scott Olson
The venerable Indianapolis architectural firm that designed many of the city's most recognizable buildings—including the Minton-Capehart Federal Building—has closed and two of its leaders have joined a local competitor.
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Developer plans $13M senior-living center in Westfield

April 27, 2011
 IBJ Staff
Cicero-based developer Mainstreet Property Group LLC plans to build a $13.3 million senior health care center in Westfield. The 65,000-square assisted living facility will employ about 150 people when it opens in 2012.
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Insurance agency revives plans for downtown building

April 12, 2011
Tom Harton
McGowan Insurance Group plans to build a $2.75 million, 19,000-square-foot building at 355 Indiana Avenue.
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Portrait Homes parent files for bankruptcy

April 11, 2011
Kathleen McLaughlin
Chicago-based Pasquinelli Homebuilding is seeking bankruptcy liquidation for all its business entities, including Portrait Homes Indiana, which built hundreds of homes in the Indianapolis area.
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UIndy to add dorm for upperclassmen

April 5, 2011
 IBJ Staff
With enrollment surging in recent years, the University of Indianapolis finds itself needing new dorm space. The private college will build a $10 million, 200-student residence hall on the south edge of its campus.
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Design flaws, defects stack up at 2-year-old airport terminalRestricted Content

March 19, 2011
Chris O'Malley
Since opening in late 2008, the midfield terminal and related structures at Indianapolis International Airport have required more than $2.5 million in fixes—not counting last month’s collapse of a canopy above the parking garage.
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IU Foundation buys Indiana Landmarks' canalside offices

March 7, 2011
Kathleen McLaughlin
The Indiana University Foundation will move its Indianapolis staff from an office on North Meridian Street.
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Construction activity falls to near-decade low

March 1, 2011
Associated Press
The current pace of construction activity is just about half of the $1.5 trillion level that economists believe would signal a healthy construction sector.
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Home construction weak both locally, nationally

February 16, 2011
 IBJ Staff and Associated Press
Home building in the Indianapolis area fell by more than 30 percent n January over the same month of 2010.
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MacAllister Machinery acquires Michigan company

February 3, 2011
Indianapolis-based MacAllister Machinery has acquired Michigan Tractor and Machinery Co., which has 590 employees and is Michigan's top Caterpillar dealer.
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Fix-up list is long as Indianapolis prepares for 2012 Super Bowl

January 29, 2011
Chris O'Malley
Plenty of opportunities await city officials bent on making downtown shine for the massive event.
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Construction leader Price resigns posts, sells company

January 29, 2011
 IBJ Staff
Price resigned as president of Indiana Construction Roundtable and Metro Indianapolis Coalition for Construction Safety.
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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. 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.

  4. If you only knew....

  5. 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.

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