Real Estate

Controversial downtown project to get tax abatement

October 7, 2009
Scott Olson
The Indianapolis Metropolitan Development Commission approved a 10-year tax abatement Wednesday afternoon for a controversial public-private plan to redevelop a vacant downtown office building.
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Cabela's puts Greenwood property up for sale

October 7, 2009
Cabela's is selling the land on which it had planned to build a store in Greenwood.
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Fishers officials propose huge medical park

October 5, 2009
 IBJ Staff
Fishers development officials anticipate unveiling plans for a huge medical business park near Interstate 69's Exit 10 Wednesday night at the town's regular council meeting.
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Charter school may take over rest of former Herron Art Institute

October 3, 2009
Cory Schouten
Plans for residential development on the site stalled as the housing market plummeted and recession set in.
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A pair of community banks see loan woes escalateRestricted Content

October 3, 2009
Greg Andrews
Community Bank of Noblesville and Blue River Bancshares Inc. of Shelbyville have seen loans sour at a rate that might have seemed unimaginable before the housing market tanked and the recession set in.
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Exterior work on bank tower wraps up with Regions sign

October 3, 2009
 IBJ Staff
The Regions Bank name and logo are joining the city’s skyline atop One Indiana Square, also known as Regions Bank Tower.
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Charter Homes owner gets 2-plus years for mortgage fraud

September 30, 2009
Cory Schouten
Charter Homes owner Jerry J. Jaquess has been sentenced to two-and-a-half years in prison and ordered to pay restitution of $825,000 for his role in a $20 million mortgage fraud scheme.
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Widow likely biggest beneficiary of Simon's estate

September 26, 2009
Peter Schnitzler
Bren Simon likely will inherit at least one-third of her billionaire husband’s fortune and potentially much more, wealth managers speculate, based on the legal and tax issues involved in such a large estate.
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Real estate marketer launches 4 Walls Etc. from homeRestricted Content

September 26, 2009
Brock Benefiel
Startup real estate firm specializes in marketing, digital floor plans and site plans.
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Entrepreneur hopes real estate venture will rebuild neighborhoods, fund charitiesRestricted Content

September 26, 2009
Kathleen McLaughlin
David Sexauer has $250,000 and a list of about 120 properties he’d like to acquire from the city of Indianapolis.
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St. Francis resumes work on $265M project

September 24, 2009
J.K. Wall
With its financial performance exceeding expectations, St. Francis Hospital & Health Centers will resume construction on a $265 million, 221-bed patient tower at its Indianapolis campus, the hospital system announced Thursday.
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Historic Landmarks returning to headquarters

September 24, 2009
 IBJ Staff
The Historic Landmarks Foundation of Indiana is set to return to its headquarters in downtown Indianapolis tomorrow, six months after a fire at a neighboring apartment project displaced the not-for-profit.
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Anticipated development near stadium isn't materializing

September 19, 2009
Sam Stall
Not long ago, developers seemed to vie for every square inch of open ground in the vicinity of the just-completed Lucas Oil Stadium. These days, the entire neighborhood has been pushed, if not into a financial deep freeze, then at the very least to the back of the crisper drawer.
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Developer Broadbent sues banks after they tighten credit line

September 19, 2009
Peter Schnitzler
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re wrongly attempting to restrict its access to a $50 million credit line.
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MANN: Commercial real estate is next mortgage crisisRestricted Content

September 19, 2009
Brian Mann
The cresting wave of maturing commercial real estate debt is the second act in our nation's credit crisis.
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'Dewatering' system creates space, keeps new Marriott's basement dryRestricted Content

September 19, 2009
Scott Olson
A sprawling network of drainage pipes is designed to keep the underground parking garage of the new JW Marriott hotel dry.
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Simon built mall empire from scratch, changed way America shopsRestricted Content

September 19, 2009
Cory Schouten
Melvin Simon, who died at 82 on Sept. 16, grasped early on that creation of the nation's interstate system would pave the way for large, enclosed shopping centers.
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Australian owner abandons efforts to sell Chase TowerRestricted Content

September 19, 2009
Greg Andrews
Macquarie Office Trust of Sydney has quietly pulled the 48-story Chase Tower off the market, along with a property in Boston and a property in Denver that failed to draw juicy enough offers.
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New owner to rehab two century-old apartment buildings

September 19, 2009
 IBJ Staff
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Clinton, Bird among mourners at Simon funeral

September 18, 2009
Associated Press
Former President Bill Clinton described Melvin Simon as one of the most remarkable people he's ever met as he gave a eulogy today during the funeral for the billionaire shopping mall developer and Indiana Pacers co-owner.
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Commission OKs Ameriplex, Rexnord tax abatements

September 16, 2009
Scott Olson
The Metropolitan Development Commission this afternoon approved two requests for property tax abatement, including one for a mammoth development known as World Connect at AmeriPlex.
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First-time homebuyers boosting residential sales

September 16, 2009
Scott Olson
Low-priced homes and foreclosures are driving a large chunk of residential real estate sales in Indianapolis, largely due to first-time home buyers taking advantage of a federal tax credit, according to a report released today by Re/Max of Indiana.
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Apartments near downtown canal slated for rehab

September 15, 2009
Tom Harton
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant downtown properties he plans to convert to market-rate apartments.
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Anderson siblings buying city's Mounds Mall

September 15, 2009
 IBJ Staff and Associated Press
Two Anderson siblings are buying the city's Mounds Mall from the Florida-based company that has owned it for the past six years.
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Adjacent Central Canal parcels go on the market

September 12, 2009
Cory Schouten
The owners of two industrial properties that span an entire city block along the Central Canal downtown have put their properties up for sale with an eye toward redevelopment.
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