Urban development

Near-east-side Super Bowl efforts go beyond the big game

December 28, 2011
Francesca Jarosz
For a Super Bowl-related initiative to revitalize Indianapolis’ near-east side, the hardest work will come after the Feb. 5 game.
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Transit plan may boost real estate investmentRestricted Content

December 17, 2011
Chris O'Malley
A proposed $1.3 billion transit system might bring redevelopment to urban neighborhoods. Yet transit proponents have surprisingly little to say about how much the system could generate in new real estate investment.
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Developer plans 26-story tower along canal

December 10, 2011
Cory Schouten
Valparaiso-based Investment Property Advisors wants to build an $83 million apartment project for college students on one of the last available parcels along downtown’s Central Canal.
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Neighbors oppose gas station at 16th and CentralRestricted Content

December 3, 2011
Francesca Jarosz
Residents of an area near the intersection of Central Avenue and 16th Street are sparring with owners of a site on its northwest corner who want to build a gas station there. The neighbors had other hopes for the spot, as part of their plans for a pedestrian-friendly 16th Street corridor.
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Mass Ave deal's brokerage fee raising eyebrowsRestricted Content

November 19, 2011
Cory Schouten
A real estate brokerage picked by the city to spearhead redevelopment of a prime Mass Ave parcel occupied by the Indianapolis Fire Department stands to collect a million-dollar-plus payday if it closes the deal.
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Newcomer Jos. A. Bank fuels hope for street-level retailRestricted Content

November 12, 2011
Cory Schouten
The 500-location menswear chain Jos. A. Bank is opening a street-level storefront location on a once-blighted block of East Washington Street, and the vote of confidence from such a growing national retailer could help persuade other stores to give downtown a look.
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Civic leaders urge Ballard to tackle woes facing urban coreRestricted Content

November 12, 2011
Francesca Jarosz
Community leaders are coalescing around a three-prong strategy to attract residents and capital to neighborhoods from just outside downtown to the borders of Interstate 465. It’s not yet clear whether all the initiatives will have the full support of Indianapolis Mayor Greg Ballard.
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Bush Stadium gets last hurrahRestricted Content

October 29, 2011
 IBJ Staff
City leaders and economic development officials planned to pay tribute Oct. 28 to Bush Stadium’s historical significance before work begins to convert the venue into loft apartments.
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Indianapolis neighborhood striving for LEED statusRestricted Content

October 22, 2011
Scott Olson
Designation to east-side project would go beyond building certification.
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City taking redevelopment bids for key Mass Ave properties

October 18, 2011
Scott Olson
The city-owned properties targeted for redevelopment are at 555 N. New Jersey St., the site of Indianapolis Fire Department administrative offices and Station No. 7, and at 501 N. New Jersey St., the location of Firefighters Credit Union.
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Investor Buffett gets behind east-side revitalization project

September 28, 2011
Scott Olson
Warren Buffett joined other investors and Indianapolis community leaders Wednesday morning for a ribbon-cutting ceremony at the $27 million East Village at Avondale apartment project.
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Developer zeroes in on troubled Irvington site

September 27, 2011
Tom Harton
A developer that wants to replace a vacant Irvington motel with an $8.7 million apartment building could get permission as early as next week to clear the site for redevelopment.
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Lafayette Square coalition names executive directorRestricted Content

September 24, 2011
 IBJ Staff
Mary Chalmers, a neighborhood liaison for the city, will leave that post to lead the effort to improve the area near 38th Street and Lafayette Road.
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Big ambitions for small planning firm

September 24, 2011
Andrew Smith
Eden Collaborative, the three-man company Adam Thies founded in 2004, is working to revitalize St. Clair Place on Indianapolis’ east side, among other projects.
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LEADING QUESTIONS: Design guru abides in rocky economy

September 21, 2011
Mason King
LQ_Garner_WatchVideoWhy does the owner of A2SO4 Architecture believe a 20 percent drop in billings is a victory? Just how cutthroat has the design field become? What's the significance of moving the firm into a church? Sanford Garner has answers.
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City receives 9 bids for Winona demolition

September 20, 2011
Indianapolis-based Denney Excavating, which oversaw the implosion of Keystone Towers last month, has submitted the low bid to raze the former Winona Hospital. The city is set to award a contract on Thursday.
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Multi-family housing project slated for Monon Trail

September 20, 2011
Scott Olson
King Park Area Development Corp. is partnering with an Indianapolis developer on an $8.7 million residential project to improve a blighted parcel along the trail.
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Experts say options abound for former GM stamping plantRestricted Content

August 27, 2011
Cory Schouten
The 2-million-square-foot GM Indianapolis Metal Center, closed this year, sprawls over more than 100 acres on the west bank of the White River and enjoys some of the best views of the downtown skyline.
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City to give Angie's List $4.6M to buy properties for expansion

August 16, 2011
Kathleen McLaughlin
Money for real estate acquisition is a major component of the $7.1 million in incentives the city of Indianapolis offered Angie's List Inc. for expanding its headquarters campus to accommodate 500 more employees.
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Local architecture firm moving HQ to former church

August 16, 2011
Cory Schouten
The architecture firm A2SO4 plans to spend about $1 million to renovate a long-vacant former Catholic church near the Lockerbie neighborhood as its new headquarters.
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Habitat for Humanity tries hand at fixer-uppersRestricted Content

August 13, 2011
Kathleen McLaughlin
Habitat for Humanity affiliates are getting into the business of rehabbing homes, capitalizing on the availability of foreclosed homes.
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Developer plans $27M project in LockerbieRestricted Content

August 13, 2011
Cory Schouten
The Whitsett Group wants to build 190 affordable and market-rate apartments, 44,000 square feet of retail and office space, and more than 300 mostly underground parking spaces on a prime Lockerbie parcel.
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Site with rich history could become catalyst for east-side growthRestricted Content

August 6, 2011
Francesca Jarosz
A four-acre site just east of downtown with a rich history is being targeted by city officials and redevelopment leaders for redevelopment. They want to restore the once-vibrant spot at Washington and Gray streets in hopes that it will help revive the beaten-down corridor.
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Keystone Towers implosion set for late August

August 1, 2011
 IBJ Staff
The long-vacant Keystone Towers apartment complex will be imploded Aug. 28 at 8 a.m., the Department of Metropolitan Development announced Monday afternoon.
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City ready to take down 1,100 abandoned homes

July 18, 2011
Francesca Jarosz
With the sale of its water and sewer utilities cleared by regulators, the city of Indianapolis is preparing to deploy $15 million to $25 million in funds from the deal into tearing down abandoned houses.
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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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