Project Funding

UPDATE: Lowe's to invest $20.5M in customer-service center

July 22, 2014
Mason King
The home-improvement retail titan plans to begin hiring immediately for the center on the northeast side, pledging to employ as many as 1,000 workers making wages of $10 to $14 per hour.
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Developer requesting $1M over Broad Ripple project delays

June 25, 2014
Scott Olson
Browning Investments Inc. is seeking the damages from opponents of its proposed $30 million apartment-and-retail projects for costs related to construction delays due to a pending appeal.
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City to consider $7.7M bond issue to assist Broad Ripple project

March 18, 2014
Scott Olson
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
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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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Developer HDG Mansur battling in court with former clientRestricted Content

July 27, 2013
Scott Olson
A local real estate fund manager sued by a former client is fighting the charges by claiming in a countersuit that it’s owed more than $20 million in fees.
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Developer F&C's 'bold statement' could finally solve MSA puzzle

July 16, 2013
Kathleen McLaughlin, Scott Olson
City incentives and a strong apartment market suggest Flaherty & Collins’ proposed $81 million, 28-story downtown apartment tower has a better chance of getting built than two previous attempts to redevelop the former site of Market Square Arena.
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City set to unveil Market Square project plans

July 15, 2013
Scott Olson
City officials will reveal the winner Tuesday morning from six teams that bid on redeveloping the downtown site. All proposed mixed-use projects, but they ranged in size from eight to 52 stories.
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Construction begins on $16M downtown apartment project

April 16, 2013
Scott Olson
The property at 800 N. Capitol Ave. is receiving a total rehab from two local developers that are retrofitting the building with 111 apartments.
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Pedcor moving ahead with $13M Central State apartments

April 2, 2013
Scott Olson
The Retreat on Washington would be the developer's second project at the former psychiatric hospital campus on Indianapolis' west side.
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Cassidy Turley offers mixed outlook on Indy real estate

January 10, 2013
Cory Schouten
The city's largest real estate brokerage expects the industrial and housing markets to boom in 2013, but offers a more cautious view on the office and retail sectors, predicting that uncertainty caused by political gridlock could hamper an already sluggish recovery.
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Irvington groups save landmark from demolition

December 26, 2012
Dan Human
The former post office at Washington Street and Ritter Avenue once anchored a commercial hub in the historic neighborhood. About $400,000 in repairs are expected before the groups attempt to flip the property for a new use.
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Super Bowl bid might spur new downtown hotelRestricted Content

August 11, 2012
Anthony Schoettle
Downtown is short of the four- and five-star hotel rooms preferred by National Football League sponsors and partners for a 2018 Super Bowl host, but local tourism officials are hesitant to add more hotel space just to secure a second Super Bowl.
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Local real estate developer files for bankruptcy

May 1, 2012
Scott Olson
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
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Mass Ave project surrounding Barton Tower gets state OK

March 27, 2012
Tom Harton
A partnership of Flaherty & Collins Properties and Insight Development Corp. was awarded rental housing tax credits by the state that will be sold to finance construction of a 61-unit, $11.5 million apartment project at 555 Massachusetts Ave.
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Irvington apartment, streetscape projects clear hurdles

March 20, 2012
Tom Harton
Two significant construction projects are closer to starting in Irvington, where the district’s East Washington Street commercial corridor is bouncing back even as one of its key buildings faces demolition.
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Deal rekindles $45M downtown projectRestricted Content

March 17, 2012
Cory Schouten
Former partners in Kosene & Kosene Development have settled a legal dispute that jeopardized redevelopment of the vacant former Bank One Operations Center downtown. Milhaus Development has until May 1 to begin construction.
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Developer Broadbent loses fight to keep finances under wraps

March 7, 2012
Scott Olson
A newly public filing shows the co-founder of The Broadbent Co.'s net worth has fallen 60 percent, to $48 million.
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Developer plans $15.7M senior-living center on east side

February 17, 2012
Scott Olson
The city of Indianapolis approved the project after accepting Mainstreet Property Group's offer to purchase the property at 16th Street and Arlington Avenue for $912,500.
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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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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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Apartment project planned for south end of Monon

November 15, 2011
Tom Harton
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
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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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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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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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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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  1. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

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