Development/Redevelopment

Local developer rescues 1913 apartment building from wrecking ball

January 3, 2012
Cory Schouten
A local developer and historic preservation group have teamed up to save a 1913 apartment building near the Children's Museum from demolition.
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Near-east-side Super Bowl efforts go beyond the big game

December 28, 2011
Francesca Jarosz
For a Super Bowl-related initiative to revitalize Indianapolis’ near-east side, the hardest work will come after the Feb. 5 game.
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Progress slow on variety of metro area deals

December 27, 2011
Tom Harton
Many projects we reported on here over the past year are still in progress, confirming that the real estate market is still sluggish.
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City backs string of high-profile real estate projects

December 24, 2011
The administration of Mayor Greg Ballard found its stride in the final year of its first four-year term, at least when it comes to major publicly supported real estate projects.
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Real estate meltdown leaves developers reeling

December 24, 2011
It was another rough year for the real estate sector in 2011, as the homebuilder Estridge filed for bankruptcy, strip-center specialist Broadbent struggled to hold onto its headquarters, and Centre Properties faced a $43 million foreclosure suit.
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Neighborhood eyesore headed for demolition

December 19, 2011
Francesca Jarosz
The city is soliciting bids from companies to tear down four buildings on the 16-acre Avanti Development Corp. property, which is tucked in a residential area a few miles west of downtown Indianapolis.
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Transit plan may boost real estate investmentRestricted Content

December 17, 2011
Chris O'Malley
A proposed $1.3 billion transit system might bring redevelopment to urban neighborhoods. Yet transit proponents have surprisingly little to say about how much the system could generate in new real estate investment.
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Fisher’s IndyCar team building headquarters in Speedway

December 15, 2011
Scott Olson
Sarah Fisher Hartman Racing plans to build a $2.7 million facility on Speedway's new Main Street to house her race team. Construction on the 37,000-square-foot shop could start in February and be finished in September.
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Proposed Broad Ripple parking garage gets zoning OK

December 13, 2011
Scott Olson
The controversial project is a $15 million, three-story garage that the city of Indianapolis will subsidize with $6.3 million in parking meter revenue. The project also features a retail component, which neighbors say will lead to increased traffic.
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Developer plans 26-story tower along canal

December 10, 2011
Cory Schouten
Valparaiso-based Investment Property Advisors wants to build an $83 million apartment project for college students on one of the last available parcels along downtown’s Central Canal.
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Indianapolis' revitalized Georgia Street is work in progress

December 10, 2011
Cory Schouten
Workers finished $12.5 million in improvements between the Indiana Convention Center and Conseco Fieldhouse in November. Now will building owners bring the entertainment spot to life?
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Ex-Speedway boss plans 4-lot subdivision on north side

December 6, 2011
Scott Olson
Former Indianapolis Motor Speedway CEO Tony George and his wife had tried unsuccessfully to sell their 12-acre wooded estate and now are planning to divide the land into a four-lot subdivision.
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Neighbors oppose gas station at 16th and CentralRestricted Content

December 3, 2011
Francesca Jarosz
Residents of an area near the intersection of Central Avenue and 16th Street are sparring with owners of a site on its northwest corner who want to build a gas station there. The neighbors had other hopes for the spot, as part of their plans for a pedestrian-friendly 16th Street corridor.
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Ripken eyes Indy for major youth baseball complex

November 23, 2011
Anthony Schoettle
Officials for Ripken Baseball Inc., which operates two of the country's top youth baseball facilities, are considering Indianapolis as a location for a major complex that could cost up to $20 million to build and draw thousands of players and spectators each year.
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Mass Ave deal's brokerage fee raising eyebrowsRestricted Content

November 19, 2011
Cory Schouten
A real estate brokerage picked by the city to spearhead redevelopment of a prime Mass Ave parcel occupied by the Indianapolis Fire Department stands to collect a million-dollar-plus payday if it closes the deal.
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Civic leaders urge Ballard to tackle woes facing urban coreRestricted Content

November 12, 2011
Francesca Jarosz
Community leaders are coalescing around a three-prong strategy to attract residents and capital to neighborhoods from just outside downtown to the borders of Interstate 465. It’s not yet clear whether all the initiatives will have the full support of Indianapolis Mayor Greg Ballard.
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Obscure not-for-profit covering shortfalls in CarmelRestricted Content

November 12, 2011
Kathleen McLaughlin
The Carmel City Center Community Development Corp. has emerged as a key player in the city’s burgeoning downtown. The not-for-profit 4CDC last month gave the performing arts center $1 million to cover its operating expenses, and it’s expected to provide another $4.5 million through June 30.
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Broad Ripple buildings slated for office conversion

November 8, 2011
Tom Harton
Kyle Robinson and Drew Loftus are in the process of buying and rezoning a trio of vacant, connected buildings at 6334 Westfield Blvd., where the Monon Trail crosses the canal.
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Buyers edging back into Indianapolis commercial real estateRestricted Content

November 5, 2011
Cory Schouten
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
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Bush Stadium gets last hurrahRestricted Content

October 29, 2011
 IBJ Staff
City leaders and economic development officials planned to pay tribute Oct. 28 to Bush Stadium’s historical significance before work begins to convert the venue into loft apartments.
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Developer plans $54 million in new apartment projects

October 28, 2011
Cory Schouten
A local developer plans to invest more than $54 million to build apartment communities adjacent to the Rivers Edge shopping center in Indianapolis and Metropolis in Plainfield.
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Indianapolis neighborhood striving for LEED statusRestricted Content

October 22, 2011
Scott Olson
Designation to east-side project would go beyond building certification.
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Carmel mayor's next goal: Build posh, $32M hotelRestricted Content

October 22, 2011
Cory Schouten
The principal developer of Carmel's City Center, Pedcor Cos., is working with city officials on plans for a four-star boutique hotel that likely would cost at least $32 million to build and may require an additional city subsidy.
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City taking redevelopment bids for key Mass Ave properties

October 18, 2011
Scott Olson
The city-owned properties targeted for redevelopment are at 555 N. New Jersey St., the site of Indianapolis Fire Department administrative offices and Station No. 7, and at 501 N. New Jersey St., the location of Firefighters Credit Union.
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Lawrence Township school district buildings in play

October 11, 2011
Tom Harton
The district is beginning an evaluation that could result in three buildings being sold and part of another being renovated for private-sector tenants.
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