Proposals

Developer seeks rezoning for Canal apartments

September 23, 2010
Scott Olson
The city's Division of Planning was set to hear a request Thursday afternoon by Valparaiso-based Investment Property Advisors LLC to rezone property near the Central Canal for a 150-unit apartment complex.
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Tower manager proposes 4th Artsgarden skywalk

September 16, 2010
J.K. Wall
Reit Management & Research LLC made a presentation Wednesday to the Indianapolis Metropolitan Development Commission for its plans to build a pedestrian walkway between Circle Centre mall and PNC Center.
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Children's Museum plans neighborhoods' revitalization

July 17, 2010
Kathleen McLaughlin
The Children's Museum of Indianapolis is about to expand its role in urban redevelopment. It has already invested more than $1 million in the half-dozen blocks around its campus on North Meridian Street, and now plans to help create a comprehensive plan for an area that encompasses six nearby neighborhoods.
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Westfield's proposed Symphony development under review

July 8, 2010
 IBJ Staff and Associated Press
The Westfield planning commission has asked city employees to further review the 1,400-acre mixed-use project that could include thousands of homes, shops, a YMCA and a baseball stadium.
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Buckingham thinks big with plans for downtown development

June 26, 2010
Cory Schouten
Will the latest ambitious downtown development proposal finally master the formula for transforming a downtown surface parking lot?
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Proposed development near Lilly campus could include hotel

June 8, 2010
Indianapolis developer Buckingham Cos. is in discussions to build a mixed-use development that could include apartments, shops, office space, and a hotel and conference center.
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Construction supplies firm plans mixed-use HQ downtown

June 2, 2010
Cory Schouten
Affordable Building Supplies LLC, which was displaced by the construction of Lucas Oil Stadium, hopes to move its headquarters closer to downtown in a new mixed-use building on South Meridian Street.
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Mass Ave project adds garage, wins approvalRestricted Content

May 8, 2010
Tom Harton
Work could begin this fall on $10 million Trail Side complex.
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Lugar Tower project delayed by lack of tax credits

March 26, 2010
Scott Olson
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
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Disagreement about parking delays project on Meridian Street

February 27, 2010
 IBJ Staff
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.
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Clarian eyes vacant Levitz space for office, warehouse use

February 2, 2010
Kathleen McLaughlin
Clarian Health Partners is considering converting a long-vacant, 180,000-square-foot Levitz furniture store on East Washington Street into a center for home-health and pharmacy services.
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Buckingham tapped to develop mixed-use project near IUPUI

January 2, 2010
 IBJ Staff
Former YMCA branch at 860 W. 10th St. would be razed to make way for retail and housing.
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Indiana Ice plan to build $12 million hockey facility

December 2, 2009
Scott Olson
Ice Sports and Entertainment, the owner of the Indiana Ice hockey team, announced Wednesday afternoon that it plans to build a complex that could contain up to four skating rinks and house the Indiana/World Skating Academy.
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Center Township seeks redevelopment bids for former YMCA

October 28, 2009
Cory Schouten
The owner of the vacant former Fall Creek YMCA along West 10th Street is seeking bidders interested in tearing down the building and redeveloping the prime 2-acre site.
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Hendricks County offers land for hotel development

October 26, 2009
 IBJ Staff
The Hendricks County Convention and Visitors Bureau said Monday that it is asking for proposals to develop a full-service convention hotel on up to 18 acres in Plainfield at the intersection of Interstate 70 and Highway 267.
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Second developer facing foreclosure on Fishers property

October 20, 2009
Scott Olson
The developer of the proposed $80 million project is facing foreclosure on the property at the same time adjoining land critical to the project's development has been scheduled for liquidation by a lender.
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Firms line up to find new uses for old airport terminal, other properties

October 10, 2009
Chris O'Malley
The cash-strapped Indianapolis Airport Authority suddenly can’t look soon enough at developing some of its vast real estate holdings, including the city’s former passenger terminal. This month, it plans to conduct final contract negotiations with a firm that would study reuse of the old terminal, adjacent land and other airport holdings.
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$65M development deal would cost Capital Improvement BoardRestricted Content

June 22, 2009
Cory Schouten
The Capital Improvement Board could be forced to give up one of its most profitable assets so the city can pull off a $65-million public-private downtown development deal. The city has agreed to help a developer revitalize the vacant former Bank One operations center in part by acquiring an adjacent parking garage for $18.5 million.
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EnerDel poised to get jolt of stimulus juiceRestricted Content

June 22, 2009
Greg Andrews
Within weeks, EnerDel expects to receive notification that it's getting as much as $480 million in financing under a U.S. Department of Energy program aimed at fostering advanced vehicle manufacturing.
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Transit, sustainable development likely to be themes in rescue of near-north neighborhoodRestricted Content

June 1, 2009
Chris O'Malley
Local leaders and, soon, a national team of experts, are quietly developing a strategy to revitalize Marion County's biggest concentration of brownfield sites and impoverished urban neighborhoods, centered at East 22nd Street and the Monon Trail.
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Westfield mayor hopes $60M stadium project will transform cityRestricted Content

April 27, 2009
Cory Schouten
Westfield Mayor Andy Cook is proposing a $60 million youth sports complex with a 4,000-seat multipurpose outdoor stadium, indoor sports facilities and sports fields with the goal of establishing the Hamilton County community as the "Family Sports Capital of America."
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Developers to pitch projects near public housing towersRestricted Content

January 26, 2009
Cory Schouten
The Indianapolis Housing Agency is asking developers to pitch plans to build new residential or commercial space on land surrounding the 21-story John J. Barton Apartments at 555 Massachusetts Ave. and the 15-story Lugar Tower at 901 Fort Wayne Ave.
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24-year-old developer tackles $30M dealRestricted Content

September 10, 2007
Cory Schouten
Jaron Garrett hasn't developed anything like the 25-story tower he's proposing. And he doesn't come close to having the financial muscle to pull off the $30 million project on his own. But Garrett is determined to sell his vision of transforming a downtown eyesore at Washington and Pennsylvania streets into a twisting glass-and-steel apartment tower.
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Pan Am development deal diesRestricted Content

August 27, 2007
Cory Schouten
Fallout from the subprime mortgage fiasco has scuttled a developer's plans to acquire Pan Am Plaza and could complicate a host of other development deals under way in Indianapolis.
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Hotel tower planned by stadium, Lilly campusRestricted Content

July 23, 2007
Cory Schouten
After years of designing banks, churches and condo conversions, Prince/Alexander Architects Inc. is working with unnamed partners on a plan to replace its headquarters with a $47 million, 24-story hotel and condo development called West Merrill Tower.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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