Construction

Fledgling technology park is development bright spotRestricted Content

November 21, 2009
Kim Puckett
WestGate@Crane Technology Park is adding office buildings for defense contractors next to the secretive Naval Surface Warfare Center at Crane.
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Catholic-owned builder edges into IndianapolisRestricted Content

November 7, 2009
Norm Heikens
When Sisters of St. Francis Health Services Inc. bought Tonn and Blank Construction Co. in 1998, more than one employee of the Michigan City firm wondered what it would be like to be run by a Roman Catholic order that not only owned a string of Midwestern hospitals but also traced its spiritual heritage to a 12th century mystic.
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WOODS: Too many contractors misleading prospectsRestricted Content

November 7, 2009
Jeremy Woods
Some contractors, many of whom are desperate to replenish backlogs decimated by the recession, are not telling prospective clients the whole story about exit strategies.
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Companies fined over death at convention center site

November 5, 2009
The Indiana Department of Labor has completed its investigation into the death of a construction worker at the expansion site of the Indiana Convention Center and fined four local companies a total of $31,000 for safety violations.
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Clarian restarts construction on hospital in Fishers

October 30, 2009
J.K. Wall
Clarian Health has resumed construction on its Saxony Medical Center in Fishers after an 8-month hiatus, the Indianapolis-based hospital system announced Friday.
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NCAA approves $35M addition to Indianapolis headquarters

October 29, 2009
 IBJ Staff and Associated Press
The NCAA executive committee on Thursday approved a $35 million addition to the governing body's headquarters in White River State Park in Indianapolis.
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Concrete firm agrees to pay $29M in price-fixing case

October 27, 2009
 IBJ Staff and Associated Press
A lawyer says Irving Materials Inc. has agreed to pay $29 million to settle a class-action antitrust lawsuit alleging it and six other companies conspired to fix the price of ready-mixed concrete.
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City strengthens building-permit process

October 14, 2009
Scott Olson
The pre-permit review could add nearly three weeks to the current permitting process
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Louisville company purchases assets of local distributor

October 14, 2009
Louisville-based Bailey Tools & Supply Inc. said Tuesday that it has purchased the assets of Indianapolis distributor Capitol Drilling & Contractors Supply.
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St. Francis resumes work on $265M project

September 24, 2009
J.K. Wall
With its financial performance exceeding expectations, St. Francis Hospital & Health Centers will resume construction on a $265 million, 221-bed patient tower at its Indianapolis campus, the hospital system announced Thursday.
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Historic Landmarks returning to headquarters

September 24, 2009
 IBJ Staff
The Historic Landmarks Foundation of Indiana is set to return to its headquarters in downtown Indianapolis tomorrow, six months after a fire at a neighboring apartment project displaced the not-for-profit.
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Environmental consultant renovates offices to LEED standardRestricted Content

September 12, 2009
Scott Olson
August Mack Environmental Inc. renovated the historic Lexington building in downtown Indianapolis with recycled components and energy-efficient lighting.
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Local contractor Enterprise acquires Freije

August 28, 2009
 IBJ Staff
Indianapolis-based Enterprise Electrical & Mechanical Co. has acquired The Freije Company, a 50-year-old local firm that specializes in refrigeration-systems design, installation and service.
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Ivy Tech saving facade for classroom building

August 27, 2009
Cory Schouten
Ivy Tech Community College plans to save the facade of a historic former hospital along Fall Creek Parkway and build a new 150,000-square-foot academic building behind it.
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Recession forces casinos to go all in with pricey expansion projectsRestricted Content

July 13, 2009
Peter Schnitzler
In a saturated gambling market, Indiana casinos increasingly rely on expanded entertainment options to attract patrons. The upshot is that an industry once considered “recession-proof” is asking the General Assembly for lower taxes and hopes to eliminate expensive regulatory requirements like maintaining engines and crews.
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Transit, sustainable development likely to be themes in rescue of near-north neighborhoodRestricted Content

June 1, 2009
Chris O'Malley
Local leaders and, soon, a national team of experts, are quietly developing a strategy to revitalize Marion County's biggest concentration of brownfield sites and impoverished urban neighborhoods, centered at East 22nd Street and the Monon Trail.
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Panel handicaps market recovery chancesRestricted Content

May 25, 2009
Cory Schouten
A panel of five veterans of real estate and construction provided industry insights at IBJ's Power Breakfast May 1 at the Westin Indianapolis.
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Contractors renovate offices for students and mentorsRestricted Content

May 25, 2009
This summer, Starfish Initiative will welcome a new class of scholars to its freshly painted offices with all new furniture, spacious meeting rooms and an inviting lounge.
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Visible progress in the city hides other troublesRestricted Content

May 18, 2009
Indianapolis still looks like a city with momentum, despite the dismal economy. But appearances can be deceiving.
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'Epic' investment losses hit hospitalsRestricted Content

May 11, 2009
J.K. Wall
Financial reports trickling in from Indianapolis' major hospitals show why the city's health care building boom ground to a near halt this year. It ran into a wall of investment losses.
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Critics: Tax hike 'defies logic'Restricted Content

May 4, 2009
Peter Schnitzler
Critics say the Legislature's plan to shore up the insolvent Indiana Unemployment Insurance Trust Fund places the bulk of the financial burden on already ailing businesses with the least ability to pay.
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Aging building gets spruced upRestricted Content

April 20, 2009
Another rundown building near the northwest corner of Washington and Pennsylvania streets is getting some attention after years of neglect.
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Minority, women contracts rise for Convention Center projectRestricted Content

March 30, 2009
Anthony Schoettle
The hiring of minority- and women-owned businesses to work on the $275 million Indiana Convention Center expansion is far ahead of state requirements and has surpassed rates that were registered for the $715 million Lucas Oil Stadium project.
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C.P. Morgan's demise puts 2,000 home sites on market already overwhelmed with landRestricted Content

March 9, 2009
Cory Schouten
The end of C.P. Morgan, the largest central Indiana builder for a decade, will throw 1,200 home lots and options for 800 more onto an already flooded land market.
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Struggling contractors hope for sale of factoryRestricted Content

March 9, 2009
Kathleen McLaughlin
Contractors struggling under the weight of an unfinished factory in Tipton are hoping for a quick sale to recover at least some of the $44 million they say they're owed by Getrag Transmission Manufacturing.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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