Development/Redevelopment

City lands grant to study reuse of old automotive sites

September 19, 2012
Kathleen McLaughlin
Federal and local funds will be used in the effort to reposition manufacturing sites abandoned by GM, Ford, Chrysler and Navistar.
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TIF expert is adviser to many municipalitiesRestricted Content

September 15, 2012
Scott Olson
Loren Matthes helped broker first tax-increment financing deal in the state
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New metropolitan development director named

September 12, 2012
Adam Thies will succeed Maury Plambeck as director of Indianapolis' Department of Metropolitan Development, effective Oct. 1. Plambeck will lead a program directing the next RebuildIndy investments into city neighborhoods.
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Virginia Avenue attracts yet another project

September 11, 2012
Tom Harton
Englewood Development has under contract the former Shirley Engraving property at 460 Virginia Ave., where it plans up to 50 apartments, about 5,000 square feet of retail space and an underground parking garage.
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Airport may carve up ex-terminal property

September 8, 2012
Chris O'Malley
Indianapolis International Airport managers say they haven’t given up hope that a single, mega-sized tenant could create an economic development boon at the site abandoned nearly four years ago when the midfield terminal opened. But the latest listing of redevelopment sites shows the former terminal complex being marketed in pieces.
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MDC approves CIB's sale of building to Steak n Shake

September 5, 2012
 IBJ Staff
The Metropolitan Development Commission on Wednesday approved a resolution allowing the Capital Improvement Board of Marion County to sell the Ober Building in downtown Indianapolis to the Steak n Shake restaurant chain.
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Steak n Shake paying $3.8M for Ober Building

September 4, 2012
Cory Schouten
An affiliate of the Steak n Shake restaurant chain has agreed to pay $3.8 million to acquire downtown's Ober Building from the Capital Improvement Board of Marion County. The restaurant chain likely will move its headquarters to the 1910 building.
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Ex-concrete plant to be razed for Greenwood nature area

August 31, 2012
Associated Press
A former concrete plant in Greenwood faces the wrecking ball to make room for a wider road. The city plans to raze the former Prairie Materials concrete plant so it can turn Worthsville Road into a major boulevard that can handle traffic from a planned Interstate 65 exit.
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FedEx Ground eyeing Zionsville for distribution center

August 30, 2012
 IBJ Staff
FedEx would bring a distribution complex to Zionsville under a tax increment financing deal hammered out with town redevelopment commission members on Wednesday.
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Major Westfield development projects making progress

August 29, 2012
Scott Olson
Several big development projects planned for Westfield are under way or awaiting approval, but plans for a retail center at U.S. 31 and 161st Street have been on the shelf for several years due to the economy and road construction.
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Vacant Consolidated Building purchased by local buyersRestricted Content

August 18, 2012
Cory Schouten
Two local buyers are angling to revitalize a century-old, 15-story downtown landmark that has confounded redevelopment attempts since its last tenants departed in the late 1990s. Ambrose Property Group and The Whitsett Group hope to transform the Consolidated Building into 98 apartments with first-floor retail or restaurant space.
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Local developer buys 50 acres in Intech Park

August 17, 2012
Scott Olson
Ace Commercial Development plans to construct a build-to-suit development for an undisclosed client on the highly visible property. Real estate sources say the client is locally based Heritage Environmental Services LLC.
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Troubled Di Rimini apartment building closer to opening

August 15, 2012
Scott Olson
A controversial downtown Indianapolis apartment building that never opened due to severe design deficiencies is a step closer to being ready for tenants after city officials granted the project’s new owner a zoning variance.
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City Market hopes catacombs tours spur interest in redevelopment

August 11, 2012
Ellen Kobe
Catacombs
                           watch videoCity Market officials are giving public tours of the catacombs beneath the marketplace, in the hope that someone will be interested in transforming the 20,000-square-foot space into a restaurant or event venue.
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Developers taking serious look at former GM site

August 9, 2012
Kathleen McLaughlin
At least six reputable developers, both local and national, have toured the former General Motors plant near downtown Indianapolis since it closed last year, according to an official trying to market the property. Of those, two are taking a serious look.
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Parking-garage connectors receive city approval

August 9, 2012
The Metropolitan Development Commission's plat committee has given local developer Flaherty & Collins Properties the go-ahead to include two upper-level pedestrian connectors in its plan to build a five-story parking garage downtown. The garage is part of a larger, $85 million development.
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City to consider connectors for downtown garage

August 6, 2012
Scott Olson
The developer of a five-story parking garage downtown is seeking city approval to build two upper-level pedestrian connectors to offer easier access to the garage, especially for employees of nearby OneAmerica Financial Partners Inc.
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Showdown escalates in City-County Council over TIFs

August 4, 2012
Kathleen McLaughlin
Redevelopment of the Massachusetts Avenue fire station could remain in limbo for the foreseeable future, as Mayor Greg Ballard and council Democrats enter a standoff over tax increment financing districts.
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Star's labyrinth of aging buildings complicates sale, reuse

August 4, 2012
Cory Schouten
Local real estate pros say finding a reuse for the Indianapolis Star's HQ will be tricky. The newspaper is selling its labyrinth of buildings at 307 N. Pennsylvania St., which have multiple floor levels, narrow hallways and a basement built to house printing presses.
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Revamped Pan Am Plaza on track for October debut

July 31, 2012
Cory Schouten
Workers have ripped out the old fountain and crumbling bricks of Pan Am Plaza, making way for a waterproof membrane and new stone pavers in a Kite Realty Group Trust project to stabilize the plaza until it can pull off a redevelopment.
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Beech Grove mayor starts process to form CDC

July 27, 2012
Scott Olson
Mayor Dennis Buckley on Friday requested the establishment of a community development corporation with a signed proclamation, which will be presented to the city's development commission for consideration. He hopes to have it operating within the next month.
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CityWay sells out first phase of apartments

July 26, 2012
Cory Schouten
Developer Buckingham Cos. has taken deposits for all 100 apartments in the first phase of its $155 million CityWay project at Delaware and South streets in downtown Indianapolis.
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Large Broad Ripple apartment complex slated for $10M renovationRestricted Content

July 21, 2012
New owner of property bought out of foreclosure seeks city revenue bonds, state low-income housing tax credits.
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Dealmaking, construction picking up on Speedway's Main Street

July 17, 2012
Tom Harton
The six-block stretch just outside the front door of the historic Indianapolis Motor Speedway was desolate when the town of Speedway formed a redevelopment commission in June 2005.
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Meadows neighborhood developer aims for retailRestricted Content

July 14, 2012
New housing, health facility could help attract grocer.
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  1. Why not take some time to do some research before traveling to that Indiana town or city, and find the ones that are no smoking either inside, or have a patio? People like yourself are just being selfish, and unnecessarily trying to take away all indoor venues that smokers can enjoy themselves at. Last time I checked, it is still a free country, and businesses do respond to market pressure and will ban smoking, if there's enough demand by customers for it(i.e. Linebacker Lounge in South Bend, and Rack and Helen's in New Haven, IN, outside of Fort Wayne). Indiana law already unnecessarily forced restaurants with a bar area to be no smoking, so why not support those restaurants that were forced to ban smoking against their will? Also, I'm always surprised at the number of bars that chose to ban smoking on their own, in non-ban parts of Indiana I'll sometimes travel into. Whiting, IN(just southeast of Chicago) has at least a few bars that went no smoking on their own accord, and despite no selfish government ban forcing those bars to make that move against their will! I'd much rather have a balance of both smoking and non-smoking bars, rather than a complete bar smoking ban that'll only force more bars to close their doors. And besides IMO, there are much worser things to worry about, than cigarette smoke inside a bar. If you feel a bar is too smoky, then simply walk out and take your business to a different bar!

  2. As other states are realizing the harm in jailing offenders of marijuana...Indiana steps backwards into the script of Reefer Madness. Well...you guys voted for your Gov...up to you to vote him out. Signed, Citizen of Florida...the next state to have medical marijuana.

  3. It's empowering for this niche community to know that they have an advocate on their side in case things go awry. http://www.youtube.com/watch?v=Lrst9VXVKfE

  4. Apparently the settlement over Angie's List "bundling" charges hasn't stopped the practice! My membership is up for renewal, and I'm on my third email trying to get a "basic" membership rather than the "bundled" version they're trying to charge me for. Frustrating!!

  5. Well....as a vendor to both of these builders I guess I have the right to comment. Davis closed his doors with integrity.He paid me every penny he owed me. Estridge,STILL owes me thousands and thousands of dollars. The last few years of my life have been spent working 2 jobs, paying off the suppliers I used to work on Estridge jobs and just struggling to survive. Shame on you Paul...and shame on you IBJ! Maybe you should have contacted the hundreds of vendors that Paul stiffed. I'm sure your "rises from the ashes" spin on reporting would have contained true stories of real people who have struggled to find work and pay of their debts (something that Paul didn't even attempt to do).

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