Development/Redevelopment

Developer rolls out $40M plan for Keystone siteRestricted Content

August 27, 2011
Cory Schouten
A local developer has acquired the northwest corner of 86th Street and Keystone Avenue and is working on plans for a $40 million apartment and retail project.
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Experts say options abound for former GM stamping plantRestricted Content

August 27, 2011
Cory Schouten
The 2-million-square-foot GM Indianapolis Metal Center, closed this year, sprawls over more than 100 acres on the west bank of the White River and enjoys some of the best views of the downtown skyline.
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First step: Tear stamping plant downRestricted Content

August 27, 2011
Jeff Gearhart / Special to IBJ
Tear it down and clean it up was the message delivered by a former redevelopment director from South Bend as she spoke to representatives from cities who were about to lose their GM plants.
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'Expand the smorgasbord' at former GM siteRestricted Content

August 27, 2011
Gordon Hendry / Special to IBJ
Indianapolis has a rich history of turning challenging redevelopment projects into local success stories, and I have no doubt the GM Stamping Plant will become part of that history as officials determine the best uses for the expansive site near downtown.
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Broad Ripple group doubles down in fight over Kilroy's

August 23, 2011
Cory Schouten
Members of the Broad Ripple Village Association are vowing to continue their fight against a new Kilroy's Bar n' Grill after they were denied a chance to speak out about the plan at a public hearing.
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City gives $82,000 for IndyFringe theater project

August 19, 2011
The grant from the city's parking meter fund will be used to rebuild a nearby alleyway, repair sidewalks and install access curbs at the organization's theater building on Saint Clair Street.
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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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Local architecture firm moving HQ to former church

August 16, 2011
Cory Schouten
The architecture firm A2SO4 plans to spend about $1 million to renovate a long-vacant former Catholic church near the Lockerbie neighborhood as its new headquarters.
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Habitat for Humanity tries hand at fixer-uppersRestricted Content

August 13, 2011
Kathleen McLaughlin
Habitat for Humanity affiliates are getting into the business of rehabbing homes, capitalizing on the availability of foreclosed homes.
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Developer plans $27M project in LockerbieRestricted Content

August 13, 2011
Cory Schouten
The Whitsett Group wants to build 190 affordable and market-rate apartments, 44,000 square feet of retail and office space, and more than 300 mostly underground parking spaces on a prime Lockerbie parcel.
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Eastgate owner plots unusual office-space strategy

August 9, 2011
Cory Schouten
The owner of the former Eastgate shopping center has begun marketing a third phase of its mall overhaul: About 225,000 square feet of emergency backup office space.
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Site with rich history could become catalyst for east-side growthRestricted Content

August 6, 2011
Francesca Jarosz
A four-acre site just east of downtown with a rich history is being targeted by city officials and redevelopment leaders for redevelopment. They want to restore the once-vibrant spot at Washington and Gray streets in hopes that it will help revive the beaten-down corridor.
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North of South gets a new name: CityWay

August 3, 2011
Cory Schouten
The $156 million mixed-use development at Delaware and South streets in Indianapolis has a new name designed to reference both the project's downtown locale and the urban "way of life" it will offer.
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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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Developer of government building sees potential for more

August 2, 2011
Tom Harton
Ambrose Property Group broke ground last month on a 13,000-square-foot building at Intech Park that will house about 75 Social Security Administration employees.
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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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Precedent joins ranks of battered developersRestricted Content

July 30, 2011
Cory Schouten
The Precedent Cos.—the local developer of The Precedent Office Park, Mount Comfort Commercial Park and several upscale residential communities in Hamilton and Johnson counties—is winding down operations in an out-of-court restructuring.
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City poised to rebrand, revamp Georgia Street

July 23, 2011
Cory Schouten
Community and business leaders are considering whether to change the name of a three-block portion of Georgia Street as part of a $12 million streetscape overhaul.
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IUPUI track stadium dodges wrecking ball

July 19, 2011
Anthony Schoettle
The Michael A. Carroll Track and Soccer Stadium, which school officials considered demolishing a few years ago, is getting a face-lift that includes a new $1.2 million infield surface.
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City ready to take down 1,100 abandoned homes

July 18, 2011
Francesca Jarosz
With the sale of its water and sewer utilities cleared by regulators, the city of Indianapolis is preparing to deploy $15 million to $25 million in funds from the deal into tearing down abandoned houses.
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Developer tries 'pocket' neighborhood in CarmelRestricted Content

July 16, 2011
Cory Schouten
A veteran local homebuilder is tearing up the suburban residential playbook with a new project in Carmel that offers tightly spaced bungalows clustered around grassy courtyards.
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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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City exploring Mass Ave redevelopment options

July 8, 2011
Scott Olson
Property that houses Indianapolis Fire Department facilities on North New Jersey Street, bordering Massachusetts Avenue, could be sold to private developers. In turn, city police and fire services could be better connected.
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McNamara moving from Broad Ripple after 57 years

July 7, 2011
Scott Olson
The florist is moving from the Broad Ripple retail space it has occupied since 1954. Local developer Buckingham Cos., which purchased the property in 2000, is preparing for the redevelopment of Monon Place.
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Lender's suit says homebuilder owes $12.8M on loans

July 5, 2011
Scott Olson
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis' south side.
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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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