Development/Redevelopment

Developer unveils 16-home project just east of downtown

November 20, 2012
Tom Harton
The Re-Development Group Inc. bought a1.6-acre site at New York Street and Highland Avenue last May and will raze three 1960s-era office/warehouse buildings to make way for home construction in 2013.
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Carmel project dogged by conflict questionsRestricted Content

November 17, 2012
Kathleen McLaughlin
An executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project was driven by conflicts of interest.
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Downtown Crowne Plaza undergoing $8M renovation

November 14, 2012
Guest rooms will receive new furniture and bathrooms new floor tile and granite countertops. Improvements also will be made to public and meeting spaces, in addition to food and beverage areas.
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One Mass Ave project starts; another one is in limbo

November 13, 2012
Tom Harton
Insight Development has begun building an $11.5 million, 61-unit apartment project at Massachusetts Avenue and East and North streets. But  the fate of the second phase is up in the air because its financing had been tied to a project Insight and Flaherty & Collins Properties had hoped to develop across Mass Ave at the site of the Indianapolis Fire Department headquarters.
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$33 million mixed-use project to remake FishersRestricted Content

November 10, 2012
Cory Schouten
Fishers officials are finalizing a deal with a local developer for a mixed-use project that would launch a long-awaited transformation of the town’s suburban core.
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City bans bulk land-bank sales after lopsided deal with not-for-profit

November 3, 2012
Cory Schouten
Indianapolis last year sold 154 properties from its land bank for $1,000 each to a novice not-for-profit, which immediately flipped them for a total $500,000 profit. More than a dozen have changed hands multiple times since then, making investors more than $1 million. (with interactive map)
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LA Fitness buys site near Washington Square, boosting area

October 30, 2012
Cory Schouten
LA Fitness plans to build a gym on the former home of a Loews movie theater adjacent to Washington Square Mall in the latest sign of progress for a struggling retail submarket.
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Developer gets OK for second phase of apartment project

October 26, 2012
Scott Olson
Trinitas Ventures of West Lafayette plans to break ground next spring on a $20 million student housing project on Indiana Avenue with 214 units. The developer already has built 253 units on the site.
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Focal point for Mass Ave project: Huge electronic screen

October 25, 2012
Cory Schouten
The most striking feature of a proposed $43-million development along Mass Ave is a Times Square-style electronic screen that would wrap around the building's corner and rise more than three stories.
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City selects developers for Mass Ave project

October 24, 2012
Cory Schouten
City officials have picked the apartment specialist J.C. Hart Co., retail developer Paul Kite Co. and architecture firm Schmidt Associates to redevelop a prime Mass Ave parcel currently occupied by the Indianapolis Fire Department.
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Developer secures financing for $9M Irvington project

October 18, 2012
 IBJ Staff
Developers are one step closer to building a $9 million apartment project to replace a blighted former hotel in Irvington.
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Milhaus buying site for more downtown apartments

October 9, 2012
Tom Harton
The local developer has agreed to purchase the former Mitchell & Scott industrial complex in the 600 block of College Avenue and is in the process of pulling together a plan for the site.
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City waterways initiative floats economic development ideas

October 6, 2012
Mason King
More than 100 local groups are joining forces to rehabilitate neglected rivers and streams in Marion County in the hope of sparking redevelopment.
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Keystone Group picked for Butler mixed-use projectRestricted Content

October 6, 2012
The university chose Keystone over Kite Realty Group and Lauth Property Group to build housing, retail and parking worth up to $45 million.
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Developer targets long-empty College Avenue retail building

October 2, 2012
Tom Harton
Teagen Development Inc. has a purchase agreement for the 6,600-square-foot building at 1101 N. College Ave., rescuing it from an attempt—since withdrawn—to demolish the structure.
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Big names competing for Butler projectRestricted Content

September 29, 2012
Cory Schouten
Butler University is finalizing plans for a mixed-use parking garage project near Clowes Hall that would include neighborhood retail and housing and might cost as much as $45 million.
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Second-tier office buildings Indianapolis now top-of-mind for buyersRestricted Content

September 22, 2012
Mason King
Class B admirers are benefiting from low prices and lending rates, and turning the buildings into apartment and company headquarters.
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Senior housing slated for old Lawrence school building

September 21, 2012
Scott Olson
The Whitsett Group plans to invest $6.5 million to convert the building on East 46th Street into 60 senior housing units. The Lawrence Township school district put the structure on the block, and Whitsett submitted the winning bid.
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City lands grant to study reuse of old automotive sites

September 19, 2012
Kathleen McLaughlin
Federal and local funds will be used in the effort to reposition manufacturing sites abandoned by GM, Ford, Chrysler and Navistar.
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TIF expert is adviser to many municipalitiesRestricted Content

September 15, 2012
Scott Olson
Loren Matthes helped broker first tax-increment financing deal in the state
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New metropolitan development director named

September 12, 2012
Adam Thies will succeed Maury Plambeck as director of Indianapolis' Department of Metropolitan Development, effective Oct. 1. Plambeck will lead a program directing the next RebuildIndy investments into city neighborhoods.
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Virginia Avenue attracts yet another project

September 11, 2012
Tom Harton
Englewood Development has under contract the former Shirley Engraving property at 460 Virginia Ave., where it plans up to 50 apartments, about 5,000 square feet of retail space and an underground parking garage.
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Airport may carve up ex-terminal property

September 8, 2012
Chris O'Malley
Indianapolis International Airport managers say they haven’t given up hope that a single, mega-sized tenant could create an economic development boon at the site abandoned nearly four years ago when the midfield terminal opened. But the latest listing of redevelopment sites shows the former terminal complex being marketed in pieces.
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MDC approves CIB's sale of building to Steak n Shake

September 5, 2012
 IBJ Staff
The Metropolitan Development Commission on Wednesday approved a resolution allowing the Capital Improvement Board of Marion County to sell the Ober Building in downtown Indianapolis to the Steak n Shake restaurant chain.
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Steak n Shake paying $3.8M for Ober Building

September 4, 2012
Cory Schouten
An affiliate of the Steak n Shake restaurant chain has agreed to pay $3.8 million to acquire downtown's Ober Building from the Capital Improvement Board of Marion County. The restaurant chain likely will move its headquarters to the 1910 building.
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  1. I am a Lyft driver who is a licensed CDL professional driver. ALL Lyft drivers take pride in providing quality service to the Indianapolis and surrounding areas, and we take the safety of our passengers and the public seriously.(passengers are required to put seat belts on when they get in our cars) We do go through background checks, driving records are checked as are the personal cars we drive, (these are OUR private cars we use) Unlike taxi cabs and their drivers Lyft (and yes Uber) provide passengers with a clean car inside and out, a friendly and courteous driver, and who is dressed appropriately and is groomed appropriately. I go so far as to offer mints, candy and/or small bottle of water to the my customers. It's a mutual respect between driver and passenger. With Best Regards

  2. to be the big fish in the little pond of IRL midwest racin' when yer up against Racin' Gardner

  3. In the first sentance "As a resident of one of these new Carmel Apartments the issue the local governments need to discuss are build quality & price." need a way to edit

  4. As a resident of one of these new Carmel Apartments the issue the local governments need to discuss is build quality & price. First none of these places is worth $1100 for a one bedroom. Downtown Carmel or Keystone at the Crossing in Indy. It doesn't matter. All require you to get in your car to get just about anywhere you need to go. I'm in one of the Carmel apartments now where after just 2.5 short years one of the kitchen cabinet doors is crooked and lawn and property maintenance seems to be lacking my old Indianapolis apartment which cost $300 less. This is one of the new star apartments. As they keep building throughout the area "deals" will start popping up creating shoppers. If your property is falling apart after year 3 what will it look like after year 5 or 10??? Why would one stay here if they could move to a new Broad Ripple in 2 to 3 years or another part of the Far Northside?? The complexes aren't going to let the "poor" move in without local permission so that's not that problem, but it the occupancy rate drops suddenly because the "Young" people moved back to Indy then look out.

  5. Why are you so concerned about Ace hardware? I don't understand why anyone goes there! Every time ive gone in the past, they don't have what I need and I end up going to the big box stores. I understand the service aspect and that they try to be helpful but if they are going to survive I think they might need to carry more specialty parts.

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