Real Estate & Retail

Huge housing, golf development planned for Westfield

October 19, 2013
Andrea Muirragui Davis
The developer who delivered high-end housing to Westfield a decade ago with The Bridgewater Club is working on plans for another upscale golf community near the city’s Grand Park Sports Complex.
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Athenaeum shelves redevelopment of adjacent lotRestricted Content

October 19, 2013
Scott Olson
Plans to redevelop a surface lot adjacent to the historic Athenaeum building have been shelved after proposals failed to meet financial expectations.
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Eight Mattress World locations to rebrand as PureSleep

October 18, 2013
Mason King
The Michigan-based owner of the Indiana mattress stores plans to take them upscale with a signature sleep-diagnostic system.
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Homebuilder Estridge plans return after landing $25M

October 18, 2013
 IBJ Staff
Paul Estridge Jr. says he is returning to the home-building business after securing $25 million from a private-equity firm in North Carolina. The venture's first project will be Harmony, a 270-acre community in Westfield.
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Local homebuilders see mild increase in permit filings

October 15, 2013
 IBJ Staff
Single-family-building permit filings rose 8 percent in the nine-county area in September, marking the 15th straight month of year-over-year increases, the Builders Association of Greater Indianapolis reported Tuesday.
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Developer launching rehab of vacant College Avenue retail building

October 15, 2013
Scott Olson
Developer Larry Jones said he’ll spend about $600,000 to renovate the 6,700-square-foot eyesore at 1101 N. College Ave., which has sat empty since the early 1980s.
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Simon’s board wrongfully denied CEO pay vote, lawyers argue

October 14, 2013
Bloomberg News
Simon Property Group directors improperly refused to let shareholders vote on changes to the company's executive-compensation plan that resulted in a $120 million stock award to CEO David Simon, investors' lawyers argued Monday in court.
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Area home sales show signs of cooling off

October 14, 2013
 IBJ Staff
Home-sale agreements in central Indiana fell for the second time in three months in September amid higher mortgage rates and tighter inventories.
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Developer seeks tax break on $16.2M apartment project

October 14, 2013
 IBJ Staff
Indianapolis-based Herman & Kittle Properties Inc. would save $452,000 in property taxes on the development, slated for 22.5 acres on the southwest side.
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$120M lawsuit over central Indiana factory moves ahead

October 14, 2013
Associated Press
The appeals court declined to hear an appeal from Getrag Transmission of a Tipton County judge's ruling that the lawsuit filed by Walbridge Construction should go to trial or settlement.
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Tower would be first big addition to east side of Indianapolis in decades

October 12, 2013
Jeff Newman
The proposed Market Square Tower—if it’s built as planned at 28 stories and 370 feet—will be one of the 10 tallest buildings in Indianapolis.
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Buckingham Cos. nabs downtown Zionsville site

October 12, 2013
Andrea Muirragui Davis
The prolific developer behind Indianapolis’ $155 million CityWay project is working on a plan to transform a key parcel in the heart of downtown Zionsville.
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Chicago firm building spec warehouse in Plainfield

October 10, 2013
HSA Commercial Inc. plans to break ground later this month on the 220,000-square-foot building in the Gateway Business Park near Columbia Road and Ronald Reagan Parkway.
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Former Simon executive faces fraud charge

October 10, 2013
Kathleen McLaughlin
Federal prosecutors in Pittsburgh have charged Mark Palombaro of Carmel with a single count of mail fraud in connection with a kickback scheme.
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Deborah Simon giving $100M to Pennsylvania prep school

October 10, 2013
 IBJ Staff, Associated Press
The contribution from the daughter of Simon Property Group co-founder Mel Simon is one of the largest gifts ever made to an independent school in the United States.
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Home-A-Rama back after five-year layoff as market improves

October 9, 2013
Scott Olson
With the housing market on the mend, the Builders Association of Greater Indianapolis decided the time was right to reintroduce the show, which gives the public an opportunity to tour newly built custom homes.
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Developer readies second Virginia Avenue residential project

October 8, 2013
Scott Olson
Deylen Realty's latest development along bustling Virginia Avenue calls for 68 apartments and 9,900 square feet of retail space between the existing Mozzo apartments and Villagio condos.
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Precedent office park hits blockRestricted Content

October 5, 2013
Scott Olson
The owners of the 19-building Precedent Office Park are putting the massive property up for sale, eight years after buying it for $143 million at the height of the real estate boom.
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Car dealers curtail advertising boastsRestricted Content

October 5, 2013
Chris O'Malley
Efforts by trade groups such as the Automobile Dealers Association of Indiana—and, more formidably, a recent crackdown by the Federal Trade Commission—have discouraged the use of potentially misleading ads.
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Gene Glick was a soldier, a builder and a philanthropic giantRestricted Content

October 5, 2013
Norm Heikens, Jeff Newman
Gene Biccard Glick, who died at home following a long battle with Alzheimer’s disease, built affordable housing sprawling across 10 states—a business empire that paved the way for tens of millions of dollars in donations to causes ranging from medicine to recreation.
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State opens downtown parking lots to development

October 4, 2013
Kathleen McLaughlin
Proposals due Nov. 15 could cover one or all of three state-owned parking facilities, which contain 6,096 spaces and generate more than $1 million a year from special events.
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Former City Hall could reopen for planning work

October 3, 2013
Kathleen McLaughlin
The city's development director hopes to launch a countywide planning effort, and he wants it to take place on the first floor of the vacant, century-old building at 202 N. Alabama St.
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Wheeler Mission lands $1M grant to help with expansion

October 3, 2013
 IBJ Staff
Wheeler Mission Ministries Inc. said Wednesday that it has received a donation from the Nina Mason Pulliam Charitable Trust that will allow it to start construction on a new facility next to its shelter at 520 E. Market St. in downtown Indianapolis.
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Real estate developer, philanthropist Glick dies at 92

October 2, 2013
 IBJ Staff
Eugene Biccard Glick built a fortune as a residential real estate developer before becoming better known as one the city’s most generous philanthropists. The Indianapolis native and World War II veteran died Wednesday.
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City delays decision on Broad Ripple project

October 2, 2013
 IBJ Staff
Due to absences on the Indianapolis Metropolitan Development Commission, attorneys for both sides of the issue on Wednesday agreed to continue the controversial rezoning request to the group's Oct. 16 meeting.
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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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