Urban development

Glick partners on $30M downtown apartment development

February 14, 2011
Cory Schouten
The lead developer on a long-delayed proposal to redevelop the former Bank One Operations Center has landed a powerhouse partner: apartment developer Gene B. Glick Co.
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Troubled DiRimini real estate development facing foreclosure

February 12, 2011
 IBJ Staff
The 31-unit apartment project at the southeast corner of Capitol Avenue and St. Clair Street has been in limbo since city officials found numerous building code violations.
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City agency signs off on North of South site plans

February 10, 2011
Scott Olson
Regional Center Hearing Examiner gives blessing to the $155 million development's master plan. Site plans will go before the Metropolitan Development Commission on March 2.
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Council to vote on funding for North of South project

February 7, 2011
The City-County Council will consider Monday evening whether to allow the city to issue $98 million in bonds to finance a portion of the controversial $155 million development.
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Fix-up list is long as Indianapolis prepares for 2012 Super Bowl

January 29, 2011
Chris O'Malley
Plenty of opportunities await city officials bent on making downtown shine for the massive event.
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City push on building codes draws gripesRestricted Content

January 22, 2011
Francesca Jarosz
A vigorous effort by city officials to enforce building-safety codes has some concerned that it’s becoming tougher to revitalize older properties.
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Vote on North of South project's bond financing delayed

January 21, 2011
Scott Olson
The city's Economic Development Committee, which was set to vote on the downtown project's $98 million bond financing package on Tuesday, chose to wait until February after making a few changes.
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Council committee to consider North of South bonds

January 17, 2011
Scott Olson
Approval would let city issue $98 million in bonds to finance its portion of the $155 million North of South mixed-use project set to be built on 14 acres north of South Street between Delaware Street and Virginia Avenue.
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Trail Side funding finally closes

January 11, 2011
Tom Harton
Financing for construction of a $10 million, mixed-use building at 875 Massachusetts Ave. closed Dec. 22, allowing developers to proceed with the project after a funding snag nearly killed it.
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North of South project clears rezoning hurdle

December 16, 2010
Scott Olson
The Metropolitan Development Commission agreed to rezone 14 acres of land, which houses a parking lot north of South Street between Delaware Street and Virginia Avenue downtown, to accommodate the $155 million mixed-use project.
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$7.5M Fletcher Arts project gets back on track

December 11, 2010
 IBJ Staff
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project just west of the intersection of Virginia Avenue and East McCarty Street.
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Historic downtown building poised for overhaul

November 30, 2010
Tom Harton
DLZ Indiana closed in September on the century-old building at 157 E. Maryland St. and plans to spend nearly $2.3 million renovating it.
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Start of downtown North of South project in flux

November 22, 2010
Scott Olson
The developer of the $150 million mixed-use project in downtown Indianapolis had hoped to start construction by the end of the year. But delays in getting the project zoned properly likely will move the start date back.
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Diversity key to west-side revitalization plan

November 20, 2010
Francesca Jarosz
Over the last few months, a wave of events has given momentum to grass-roots efforts to revive the West 38th Street corridor and its broader neighborhood, which includes Lafayette Square Mall.
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Gatling Gun Club building set for auction

November 10, 2010
Scott Olson
The historic structure at 709 N. Illinois St., along with a nearby parking lot, could be sold Wednesday afternoon. Declining membership and rising costs led the private club to seek a sale of the 160-year-old building.
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Oaks Academy pondering how to fund a second locationRestricted Content

October 30, 2010
J.K. Wall
Local leaders are encouraging The Oaks Academy to duplicate its successful urban private school model at a second location as part of the massive investment in near-east-side redevelopment spurred on by Indianapolis’ successful bid for the 2012 Super Bowl.
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Downtown apartment developers take divergent paths to financing

October 30, 2010
Cory Schouten
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
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Georgia Street reconstruction project starts underground

October 9, 2010
 IBJ Staff
Work is under way on the $12.5 million transformation of a three-block stretch between Pennsylvania Street and Capitol Avenue into a pedestrian-friendly corridor.
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City not impressed with fixes proposed by Di Rimini developer

October 9, 2010
 IBJ Staff
Developer Jeff Sparks met with city planners Oct. 1 to propose fixes to the apartment project at Capitol Avenue and St. Clair Street.
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City halts apartment developer

October 2, 2010
Cory Schouten
The Near North Development Corp. asked the city in a Sept. 2 e-mail to compare the renderings for the Di Rimini apartment project at 733 N. Capital Ave. with what was actually taking shape. A week later, the Department of Code Enforcement issued a stop-work order for the project.
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Dolce hotel, YMCA part of city-funded 'North of South' development

September 27, 2010
Scott Olson
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
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$150M 'North of South' project moving ahead

September 27, 2010
 IBJ Staff
Officials are announcing details of an ambitious downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters. The project will include a hotel, apartments, restaurants and retail space and a YMCA.
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Tired-but-proud school buildings find new missions

September 25, 2010
Chris O'Malley
More unneeded buildings are slated to be sold off by Indianapolis Public Schools, but creative people have turned other former schools into reuse gems.
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City meets deadline to get federal money for housing projects

September 25, 2010
 IBJ Staff
The $29 million will be used to acquire and demolish or rehabilitate foreclosed and abandoned homes.
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Hoosier Lottery moving to Meridian Street building

September 21, 2010
Tom Harton
The lottery will move in January to the Buick, a 60,000-square-foot building at 13th and Meridian streets owned by principals of Shiel Sexton Construction.
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