Retail Development

Building spree reshaping Broad Ripple VillageRestricted Content

August 9, 2014
Dennis Barbosa
A rush of new office, residential and retail projects suggest real estate developers in Broad Ripple Village remain optimistic in the midst of high-profile incidents of crime.
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New airport-area hotel will be rarity in market

July 1, 2014
Scott Olson
Holladay Properties and Schahet Hotels Inc. are partnering on a new full-service Holiday Inn that's expected to open early next year.
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East-side associations fight gas-station plan

June 28, 2014
Scott Olson
A property owner’s plans to convert the northwest corner of East 10th Street and Emerson Avenue into a convenience store and gas station are causing consternation among neighborhood leaders who hope to stop the project.
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Noblesville firm plans $3M East 16th Street investment

June 17, 2014
Scott Olson
Slane Capital is developing the project for Better Retail, which plans to move its headquarters from Hamilton County while converting the dilapidated structure just east of the Monon Trail into a hub for food-and-beverage startups.
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YMCA set to break ground on $22M CityWay project

June 10, 2014
Scott Olson
The not-for-profit is expected to begin construction on the three-story, 87,000-square-foot downtown facility July 16, with a completion date of December 2015.
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Former restaurateur Peter George partnering on small new eatery

June 7, 2014
Scott Olson
George, 60, is targeting an August opening for Tinker Street, a chef-driven and plant-based concept he’s launching with business partner Thomas Main, 56, who also has a restaurant background.
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Shares of Simon spinoff dip in early trading

May 29, 2014
 IBJ Staff
Simon Property Group has revised its earnings forecast with the Thursday launch of spinoff firm Washington Prime Group.
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Chatham Tap crew buying ex-church for brewery, restaurant

April 19, 2014
Scott Olson
The owners of two popular pubs on Massachusetts Avenue are delving into the trendy micro-brewery business with plans for a brewery and restaurant in a historic former church a few blocks away.
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Kite sells three retail properties for $35.2 million

April 9, 2014
Indianapolis-based Kite Realty Group Trust, which is in the midst of a major merger, had decided that the three properties scattered across the country were "non-core assets."
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Simon plucks in-house execs for spinoff firm

March 24, 2014
 IBJ Staff
Simon Property Group Inc. is reaching into its own stable of executives to stock the C-suite of its publicly traded spinoff for retail strip centers and smaller enclosed malls.
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Fresh idea: Specialty grocers finally eyeing south sideRestricted Content

March 22, 2014
Scott Olson
The south side is beginning to receive at least some attention from grocery players, including specialty ones that are much more prevalent to the north.
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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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Home-remodeling firm giving new life to vacant Carmel center

March 18, 2014
Scott Olson
The vacant, 14,500-square-foot property in the heart of the city has been purchased by a local home-remodeling company, which plans to occupy half the building and lease the rest.
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Developer to break ground on Fort Ben project

March 11, 2014
Tom Harton
The 36,000-square-foot building will house 27,000 square feet of office suites. The remainder will be retail, with the local Jockamo's Pizza chain slated to open a restaurant in the largest space.
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Weaver's site sale could lead to Broad Ripple village-park connector

February 21, 2014
Scott Olson
Weaver's Lawn & Garden Shop at 1316 Broad Ripple Ave. has been in business for decades. Now that family members have sold the property, local leaders hope the land eventually can serve as a recreational link.
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Zionsville sticks with big-box ban despite growth push

February 15, 2014
Andrea Muirragui Davis
Even as retail development continues to proliferate just outside Zionsville’s borders, town officials say they remain committed to an 8-year-old zoning ordinance banning big-box stores.
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Longtime Simon Property CFO stepping down

February 3, 2014
Stephen Sterrett joined the predecessor to Simon Property Group Inc. in 1989, before the retailing giant went public in 1993 and eventually became the world's largest mall developer.
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New owner for 14 West building targeting another restaurant

January 28, 2014
Scott Olson
A recently retired CEO bought the historic building at 14 W. Maryland St. After renovations, he hopes to attract a national chain to the space.
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Design of new downtown fire station to get first review

January 21, 2014
Scott Olson
Construction of the new fire station on East 10th Street would help clear the way for a $43 million apartment and retail project on Massachusetts Avenue where the Indianapolis Fire Department's headquarters now stands.
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Foes of $25M Broad Ripple project go to court

January 20, 2014
Scott Olson
The local group wants a judge to overturn the city's decision to grant zoning variances for the apartment-and-retail project. In the meantime, developer Browning Investments is moving forward with its plans.
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Cassidy Turley offers upbeat outlook on local real estate

January 16, 2014
Scott Olson
The city's largest real estate brokerage predicts that 2014 will mark the first year the economy feels like it's actually recovering, as all sectors of the commercial real estate market continue to improve.
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Developer plans $80M project in Carmel

January 4, 2014
Andrea Muirragui Davis
Apartment specialist Edward Rose Properties Inc. is proposing an $80 million mixed-use project on mostly undeveloped land in Carmel’s Old Meridian District.
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Commercial blitz may follow Westfield's housing boom

December 14, 2013
Andrea Muirragui Davis
Poised for a development boom in those heady days before the real estate market collapsed, Westfield appears back on track for growth. Residential activity never stopped, but builders are picking up the pace in response to increasing demand. If history holds true, a commercial construction blitz will come next.
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Simon plans for spinoff get warm reception from Wall Street

December 13, 2013
Scott Olson
After recently stalling on the stock market, shares of Simon Property Group perked up in trading Friday after the massive local firm announced plans to spin off nearly 100 retail centers into a new firm. Analysts approved of the move.
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Indy-based Simon spinoff will include 13 Indiana centers

December 13, 2013
Scott Olson
The locally based retail giant confirmed Friday morning that its new spinoff will be headquartered in Indianapolis. Several of Simon's properties in the area will be among the new portfolio, including Clay Terrace in Carmel.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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