Development/Redevelopment

Developer to move HQ to Carmel, create 25 jobs

April 8, 2013
Mason King
Fast-growing Mainstreet Property Group will invest $800,000 to lease and equip offices at 14390 Clay Terrace Blvd.
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City to buy key parcel for 16th Street tech corridorRestricted Content

April 6, 2013
Scott Olson
The city of Indianapolis is poised to pay Citizens Energy Group $6.5 million to buy a key parcel of real estate it’s targeting as the centerpiece of its ambitious 16 Tech project.
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Ice likely to play more games at revamped Pan Am facilities

April 5, 2013
Scott Olson
Building owner Kite Realty Group Trust has agreed to renovate the aging facility's ice rinks to enable the hockey team to play more games there next season.
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Monument Circle face-lift set to move forward

April 4, 2013
Kathleen McLaughlin
The city recently signed a $555,750 contract with a local firm for design work on the Circle, leading to a two-year repaving project with other improvements.
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Skating academy to close ice rinks at Pan Am Plaza

April 3, 2013
 IBJ Staff
Indiana World Skating Academy, a fixture in downtown Indianapolis since 1987, plans to suspend operations of its two indoor ice rinks at Pan Am Plaza this month and begin looking for a new location, the not-for-profit announced Wednesday.
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Pedcor moving ahead with $13M Central State apartments

April 2, 2013
Scott Olson
The Retreat on Washington would be the developer's second project at the former psychiatric hospital campus on Indianapolis' west side.
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Lilly to spend $180M doubling size of Indy plant

April 2, 2013
The new investment will bring the plant's total price tag to $320 million as the pharmaceutical giant seeks to increase production of insulin and related products.
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Boomerang comes back with plans for Noblesville subdivision

March 29, 2013
Andrea Muirragui Davis
A local developer is moving forward with plans to build a 144-lot subdivision in Noblesville—the first such project city officials have OK’d since approving another proposal for the same property in 2007.
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Bill would expand state’s historic preservation tax credit

March 29, 2013
 The Statehouse File
Legislation that was killed last year after passing the Indiana House has been revived this session in hopes of spurring more historic renovation across the state.
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Local REITs charge ahead of pack in bull market

March 27, 2013
Scott Olson
Indiana real estate investment trusts are hitting new highs while outpacing the bull market and their peers in the usually hardy and suddenly hot sector.
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Two projects would give Nora Plaza a face-liftRestricted Content

March 23, 2013
Scott Olson
The developer of Nora Plaza is planning a $2 million redevelopment of a building that formerly housed Café Nora in the popular north-side shopping center, and anchor Whole Foods is expanding into 5,700 square feet of space north of its existing store.
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Summit’s headquarters earns double LEED certificationRestricted Content

March 23, 2013
Summit earned the environmental accolades by including a variety of green-friendly features, including carpeting made from recycling materials, paints with low or no volatile organic compounds, and HVAC and LED lighting systems with energy-efficient controls.
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Kite Realty is makeover artist for tired shopping centersRestricted Content

March 9, 2013
Cory Schouten
Having rejuvenated Glendale Town Center and Rivers Edge, Kite is turning its attention to Rangeline Crossing in Carmel.
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Besides parking, garage could aid Broad RippleRestricted Content

March 9, 2013
Scott Olson
Some are hoping the structure will lure more business to the neighborhood.
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Carmel puts 7-acre parcel up for grabs

March 9, 2013
Kathleen McLaughlin
Carmel is finally ready to redevelop the former Party Time Rental site on Range Line Road, a property in which the city has invested $4 million.
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Site swaps could clear the way for $43M Mass Ave projectRestricted Content

March 9, 2013
Cory Schouten
City officials are working on a deal that could result in a new headquarters and downtown station for the Indianapolis Fire Department, a fresh user for a vacant former car dealership, and long-awaited groundbreaking on a $43 million apartment and retail redevelopment on Mass Ave.
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Ballard plans new redevelopment effort for Market Square site

March 7, 2013
Dan Human, Kathleen McLaughlin
Mayor Greg Ballard, in his annual State of the City speech scheduled for Friday, plans to call for new proposals for the downtown site that previously was home to Market Square Arena. The city expects the proposals to include a high-rise building with a major retail component.
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Local housing projects get $3.4M boost from tax credits

March 1, 2013
The Indianapolis developments include new apartments for seniors, the developmentally disabled and homeless veterans, using sites such as Fort Harrison and the former Central State grounds.
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LEADING QUESTIONS: Mainstreet CEO masters efficiency

February 27, 2013
Mason King
LQ_Turner_WatchVideo MainstreetWhat are Zeke Turner's top five strategies for keeping his work week under 40 hours? Do you really need work e-mail on your smart phone? What's it like to take a company public? The real estate exec has answers.
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Three years after opening, Indiana Design Center fillsRestricted Content

February 23, 2013
Norm Heikens
Tenants include interior designers, artists, kitchen cabinet firms.
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Architectural firm A2SO4 ordered to cease operations

February 12, 2013
Chris O'Malley
The Indiana Department of Revenue has revoked the Indianapolis firm's retail merchant certificate, alleging it owes more than $43,000 in taxes.
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Downtown projects face crucial hurdles

February 12, 2013
Tom Harton
Two downtown apartment projects seek critical government approvals in the next month, while  another commercial project is on track to start this year.
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City-County Council approves north-side TIF district

January 29, 2013
Kathleen McLaughlin
A new redevelopment area will be created on the north side, as the Indianapolis City-County Council voted 23-5 Monday night in favor of the North Midtown tax-increment finance district.
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Butler Automotive snaps up 96th Street parcel for dealership

January 29, 2013
Tom Harton
An affiliate of Butler Automotive Group bought more than 19 acres at the northwest corner of East 96th Street and Randall Drive in late December and is seeking permission from Carmel to build a structure that would house Butler Hyundai.
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Airport neighbors team up on 'AeroVision'Restricted Content

January 26, 2013
Chris O'Malley
Mayor Greg Ballard is expected on Jan. 30 to lay out plans for a cross-county economic development area anchored by Indianapolis International Airport that promises to quell political divisions and clear the way for investment.
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