News & Analysis

Simon spinoff plans $4.3B merger with Ohio mall firm

September 16, 2014
 Bloomberg News and IBJ Staff
Washington Prime Group Inc. has agreed to buy Glimcher Realty Trust of Columbus, Ohio, in a deal valued at about $4.3 billion when including assumed debt. As part of the transaction, Simon Property Group will acquire two malls for $1.09 billion in cash.
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Cummins selects firm to design downtown office building

September 16, 2014
Scott Olson
The firm has chosen New York-based Deborah Berke Partners to design its $30 million global distribution headquarters that will be built on part of the site where Market Square Arena once stood.
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Greenwood eyes more land for development along I-65

September 16, 2014
Scott Olson
Though plans for a $22 million hotel and indoor sports complex seem in jeopardy, the city of Greenwood has other projects in the works along Interstate 65, including a new interchange and possibly an apartment development.
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Fishers mobile app developer lands $1M in VC funding

September 16, 2014
Jared Council
Bluebridge Digital LLC, which creates and manages mobile software applications primarily for not-for-profits, announced Tuesday that it closed a $1 million round of venture capital fundraising and plans to double its work force within a year.
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Lilly to pay AstraZeneca up to $500M in Alzheimer’s push

September 16, 2014
Bloomberg News
The two companies will work together to develop AZD3293, which belongs to a novel class of drugs called BACE inhibitors that block production of amyloid, a protein that causes plaque to build up in the brain of Alzheimer’s patients.
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Indiana reports increase in 2013 workplace deaths

September 16, 2014
Associated Press
The Labor Department reports there were 123 worker deaths last year, up from 115 a year earlier but still the third-lowest number in the past 22 years.
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Sheriffs: Mentally ill people swamping Indiana jails

September 15, 2014
Associated Press
County jails have become the "insane asylum" for Indiana as state hospital care for the mentally ill has declined, a sheriff told a legislative committee in Indianapolis on Monday.
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Opus seeks tax breaks on $10.9M building near airport

September 15, 2014
Jeff Newman
A tax-abatement request for the project filed with the city last week said the 434,400-square-foot flex industrial building will be built on a speculative basis.
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Carmel developer pitching $150M Midtown plan

September 15, 2014
Andrea Muirragui Davis
Carmel-based Old Town Development LLC expects to file plans this week for a $150 million redevelopment project on 11 acres in the suburban community’s blighted Midtown area, between Carmel City Center and the Arts & Design District near the Monon Greenway.
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Recent wins worth $4B to Lilly market value

September 15, 2014
J.K. Wall
Lilly is finally putting meat on the bones of its predictions about its experimental diabetes and cancer drugs. That gives investors the certainty they crave that Lilly’s future revenue won’t remain in its 2014 doldrums.
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Stay issued in Indiana gay marriage ban case

September 15, 2014
Associated Press
Same-sex couples hoping to get married in Indiana will have to wait until the U.S. Supreme Court addresses the question of whether gay marriage bans are constitutional.
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Indy housing market stumbles to glum milestone

September 15, 2014
Mason King
Home-sale agreements in August declined 9.6 percent, marking the 12th consecutive month of declining deals for houses in the nine-county Indianapolis area.
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Couple revamps old roadside motel into apartments

September 15, 2014
Associated Press
The Kaiden, a 13-unit hotel just off the National Road between Indianapolis and Greenfield, has been reborn as an apartment building called The Village.
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Liquidation not needed, developer HDG Mansur tells court

September 15, 2014
 Bloomberg News and IBJ Staff
Two affiliates of troubled Indianapolis-based developer HDG Mansur oppose requests to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7, saying significant progress has been made toward a plan and global settlement of claims.
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Year wait expected for start of Wigwam work

September 15, 2014
Associated Press
The developer taking over Anderson's Wigwam gymnasium is expecting to start work at the complex in about a year. The group plans to convert part of the complex into 55 multifamily housing units while maintaining the gym.
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S&P report: Stagnant incomes threaten Indiana revenues

September 15, 2014
Associated Press
Sales tax is Indiana's largest source of revenue. But it is tied to consumer spending, and Americans have become increasingly reluctant to spend as median incomes have remained virtually stagnant over the past 30 years.
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DCS struggles to keep accurate caseload tally

September 14, 2014
Associated Press
Indiana has hired more case workers to keep track of its most vulnerable residents. But complaints about overwork continue to surface as the state battles questions about the accuracy of data on caseloads.
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Bloomington inventor's game explores origins of life

September 14, 2014
Associated Press
Mark White's newest invention is a 3D board game called "Mutation," a clicking, clacking puzzle ball. It's best described as tic-tac-toe on the surface of a sphere.
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'Transparent' government often elusive for right and left

September 14, 2014
Associated Press analysis
The promise of "transparent" government is almost universally popular among politicians. But the talking point of transparency often remains just that: a talking point.
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Unauthorized demolition of historic home sparks lawsuit

September 13, 2014
Cory Schouten
Indiana Landmarks is going to court over the unauthorized demolition of a historic home in Fall Creek Place that likely was built in the 1890s.
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Legislators to reconsider aid for struggling casinos

September 13, 2014
Kathleen McLaughlin
Indiana legislators were lukewarm to assistance for casinos in 2013, but two years of declining revenue and new leadership on the issue could change their minds.
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Data deluge prompts teacher colleges to extend training after graduation

September 13, 2014
J.K. Wall
Rattled by new state teacher ratings, the colleges hope to avoid black eyes, themselves.
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Local pair wages battle against Manhattan financier

September 13, 2014
Greg Andrews
Jonathan Evans and Sean O’Connor of the Carmel investment firm JWEST LLC are trying to win election to the board of Rand Logistics, which they believe is being mismanaged by Chairman Laurence Levy.
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Hamilton County communities battle tax appeals

September 13, 2014
Andrea Muirragui Davis
Carmel, Fishers and Noblesville are trying to head off appeals that cause tax revenue to come in lower than expected, especially for projects within tax-increment-financing districts.
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Indy Star loses bevy of sports veterans

September 13, 2014
Anthony Schoettle
The Indianapolis Star sports department in one month has lost four reporters and a columnist with a combined 123 years of experience at the paper.
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