Urban development

Committee urges hiring commitment for $81M MSA tower project

March 3, 2014
Scott Olson
A City-County Council committee recommended approval for the 28-story building but only if the developer pledges that 30 percent of the workers it hires to build the tower live in Marion County.
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Kite floats two-tower Pan Am Plaza projectRestricted Content

March 1, 2014
Scott Olson
The latest plan to redevelop Pan Am Plaza calls for two hotels, residential units and restaurants spread across two towers as tall as 20 stories each, sources familiar with the details told IBJ.
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ExactTarget mulls building downtown tower

February 22, 2014
Scott Olson
ExactTarget Inc. is evaluating downtown sites where it could build a headquarters tower as large as 500,000 square feet, real estate brokers familiar with the discussions told IBJ.
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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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City committee again delays vote on MSA tower’s financing

February 4, 2014
Scott Olson
Members of the Metropolitan and Economic Development Committee said they needed more information on Flaherty & Collins' proposed $81 million high-rise project on the former Market Square Arena site.
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New concert venue proposed for GM plant site

January 25, 2014
Scott Olson
A concert venue rivaling the size of Klipsch Music Center in Noblesville has emerged as the favorite in a bid to redevelop the former General Motors metal-stamping plant on the western edge of downtown.
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Apartment craze shows no signs of slowing

December 28, 2013
Scott Olson
Apartment developers continued their blitz on the downtown market with several projects under construction or in the planning stages.
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Union Station gets new scrutiny after spate of repairs

December 14, 2013
Scott Olson
Seeing small repair projects pile up at the city's iconic 19th-century train station, city officials have launched an effort to assess the building’s condition with the most thorough inspection in several years.
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DMD's Thies pushing for better design, more projects

November 30, 2013
Scott Olson
Adam Thies, 36, arrived from the private sector in October 2012 and is beginning to put his stamp on the government agency that guides city development
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Future murky for Carmel's 2-story development rule

November 16, 2013
Andrea Muirragui Davis
City leaders are embroiled in a debate over the future of Range Line Road, through the heart of Carmel's redeveloped downtown. Special density zoning rules are intended to create a consistent look and keep residents from bearing the brunt of the city’s significant infrastructure investment. The question is whether it’s working.
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Buyer of Illinois Building envisions conversion into upscale hotelRestricted Content

November 16, 2013
Scott Olson
A high-profile local developer has bought the Illinois Building and is considering offers to convert the downtown landmark into a boutique hotel that could be the city’s first five-star lodge.
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Uptown Business Center headed to sheriff's sale

November 12, 2013
Scott Olson
The building in SoBro is at the center of a lengthy court feud in which the owner had attempted to delay foreclosure by filing to reorganize assets—a strategy that a bankruptcy judge rejected last month.
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Proposed GM plan reserves space for soccer stadiumRestricted Content

November 9, 2013
Anthony Schoettle
One of the players vying to redevelop the former General Motors metal-stamping plant has set aside room in his plans for a roughly 10,000-seat stadium where his own North American Soccer League franchise could play.
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Conference eyes preservation as development tool

October 31, 2013
Associated Press
A national gathering of preservation experts this week in Indianapolis are toasting some of the success stories historic preservation can foster by helping spark revitalization in neighborhoods and city centers.
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Preservationists float ideas for reusing City Hall

October 30, 2013
Scott Olson
An upscale hotel, a brewery and an event center were among the proposals suggested by members of the National Trust for Historic Preservation. The group is holding its annual conference in Indianapolis for the first time.
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Four local firms vying to redevelop GM stamping plant site

October 30, 2013
Scott Olson
At least one of the proposals for the site, which has been vacant since 2011, would create a suburban-type office park in an urban environment.
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Ritzier hotels may lure top events, but year-round demand unclear

October 26, 2013
Anthony Schoettle
Indianapolis lacks a five-star hotel, a fact some hospitality experts think could hurt the city’s chances of landing the 2018 Super Bowl. But there’s no consensus on whether the city should go more upscale.
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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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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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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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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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Cummins keeping HQ in Columbus, but considering Indy project

September 26, 2013
Associated Press
Cummins spokesman Jon Mills said the company wants to consolidate its two offices in downtown Indianapolis where about 100 employees work in areas such as communications, information technology and investor relations.
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Skywalk adds architectural element to senior-housing project

September 24, 2013
Scott Olson
Two four-story structures, at the southwest and northwest corners of 30th and Clifton streets, will be built as part of a $10.7 million project that will include 57 units linked by an elevated walkway.
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City eyes Cummins as anchor for key downtown site

September 21, 2013
Scott Olson
City officials are quietly trying to orchestrate what would be a major coup: Landing Cummins as an office anchor for a second phase of redevelopment on the former home of Market Square Arena.
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New school to anchor Central State projectRestricted Content

September 7, 2013
Kathleen McLaughlin
The first new non-residential building at the former Central State Hospital campus, at the corner of West Washington Street and Tibbs Avenue, will be a charter school. Christel House Academy West broke ground last month on about nine acres donated by the city.
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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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