Development/Redevelopment

Zionsville sticks with big-box ban despite growth push

February 15, 2014
Andrea Muirragui Davis
Even as retail development continues to proliferate just outside Zionsville’s borders, town officials say they remain committed to an 8-year-old zoning ordinance banning big-box stores.
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Artist Noel to sell Sanctuary in Zionsville, relocate to New York City

February 13, 2014
Lou Harry
Nancy Noel is putting the massive gallery and event space on the market for $1.85 million. She'll keep her residence in the area, but plans to open a gallery in the Big Apple.
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Proposed criminal justice complex draws five bidders

February 12, 2014
Kathleen McLaughlin
In the meantime, city officials are arranging to meet with lawyers, judges and residents who are concerned about moving jails and courts from downtown's core.
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$80M project on tap for Keystone at the CrossingRestricted Content

February 8, 2014
Scott Olson
A local developer plans to build a hotel, apartments, offices and retail space on the last two vacant parcels in Keystone at the Crossing.
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Architecture firm closing, renovated HQ on block

February 7, 2014
Scott Olson
A2SO4 Architecture LLC has begun to wind down operations as a bank forecloses on a couple of construction loans for its new headquarters with a total balance of more than $1 million.
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City committee again delays vote on MSA tower’s financing

February 4, 2014
Scott Olson
Members of the Metropolitan and Economic Development Committee said they needed more information on Flaherty & Collins' proposed $81 million high-rise project on the former Market Square Arena site.
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Deadline nears for saving Anderson's Wigwam gym

February 3, 2014
Associated Press
School officials say a plan is needed to pay ongoing costs at Anderson's iconic Wigwam gymnasium while a group trying to save the building faces a deadline to hold off its demolition.
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Airport site identified as 'preferred' for criminal-justice complex

February 3, 2014
Indiana Lawyer Staff, Dave Stafford
An airport location and the former GM metal-stamping property near downtown are the top two sites listed for a Marion County jails-courts complex in a market survey of 14 potential sites conducted for the city by real estate services firm CBRE.
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Indiana plans $75M push to demolish abandoned homes

February 3, 2014
Associated Press
Lt. Gov. Sue Ellspermann announced the initiative Monday at the Statehouse. She said knocking down blighted and abandoned homes will help maintain property values and cut down on crime.
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Developer planning Sophia Square sequel near Meridian Street

February 1, 2014
Andrea Muirragui Davis
The developer behind the $60 million Sophia Square building in Carmel’s Arts & Design District is proposing a similar project about a mile west.
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Preservation tax credit gets makeover in House bill

January 29, 2014
Erika Brock, The Statehouse File
The Indiana House is set to consider legislation that would shift the state’s historical preservation tax cut program into one that relies on grants instead.
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Duke Realty reports strong quarterly, annual results

January 29, 2014
The Indianapolis-based real estate developer said it earned a profit in both the fourth quarter and entire year after reporting losses in 2012.
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Developer pitching $17.5M project in downtown Fishers

January 28, 2014
Andrea Muirragui Davis
Fishers’ Town Council is expected to vote Monday on a proposal that calls for the town to contribute property for the office-retail project and $6 million for its 330-space parking garage.
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New concert venue proposed for GM plant site

January 25, 2014
Scott Olson
A concert venue rivaling the size of Klipsch Music Center in Noblesville has emerged as the favorite in a bid to redevelop the former General Motors metal-stamping plant on the western edge of downtown.
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New owners plan changes at Metropolis mall

January 23, 2014
Scott Olson
A joint venture involving a Memphis-based developer has purchased the shopping center in Plainfield and plans to invest millions to update the troubled property. A name change also is a possibility.
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Foes of $25M Broad Ripple project go to court

January 20, 2014
Scott Olson
The local group wants a judge to overturn the city's decision to grant zoning variances for the apartment-and-retail project. In the meantime, developer Browning Investments is moving forward with its plans.
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County to rebuild fair grandstand two years after arson

January 20, 2014
Associated Press
Shelby County commissioners have awarded a $2.3 million contract for construction of the new grandstand to Zionsville-based RL Turner Corp.
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Zionsville panel OKs Hat World land deal for HQ

January 14, 2014
Andrea Muirragui Davis
Zionsville officials on Monday agreed to sell 15.6 acres in the new Creekside Corporate Park to Hat World Inc. for $577,200. Local incentives tied to the deal could allow the company to recoup at least half of the purchase price.
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City-County Council, mayor settle on TIF policy

January 14, 2014
Kathleen McLaughlin
Mayor Greg Ballard's administration has agreed to a new policy around creating and managing tax-increment finance districts. The policy is headed to the City-County Council for approval.
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Developer plans $80M project in Carmel

January 4, 2014
Andrea Muirragui Davis
Apartment specialist Edward Rose Properties Inc. is proposing an $80 million mixed-use project on mostly undeveloped land in Carmel’s Old Meridian District.
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New owner IU set to unveil plans for shuttered Wishard Hospital campus

January 4, 2014
Scott Olson
The university wants to expand its health services program by using some existing Wishard space and tearing down other buildings and replacing them with modern facilities,
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Century-old Mass Ave landmark changes hands

December 31, 2013
Scott Olson
The Marott Center was built in 1906 as one of the first multi-level department stores in Indiana and is listed on the National Register of Historic Places.
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Whole Foods-anchored project causes stir in Broad Ripple

December 28, 2013
Scott Olson
A local developer’s plan to build a $25 million mixed-use project in Broad Ripple anchored by a Whole Foods grocery met fierce resistance from neighborhood residents opposed to its size.
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Panel's use of TIF funds spurs new flap in Carmel

December 28, 2013
Andrea Muirragui Davis
The cash-strapped Carmel Redevelopment Commission is revising its 2014 budget to account for the loss of a six-figure income stream critics say it was not entitled to use in the first place.
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Apartment craze shows no signs of slowing

December 28, 2013
Scott Olson
Apartment developers continued their blitz on the downtown market with several projects under construction or in the planning stages.
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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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