Development/Redevelopment

More upgrades in store for downtown's Cadillac Building

June 25, 2013
Scott Olson
The building owner is opening window coverings that had been sealed shut, a move that will make the property more attractive to a retailer. A huge apartment project underway nearby is giving the area a lift.
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Veteran custom homebuilder taking prefabs downtownRestricted Content

June 15, 2013
Scott Olson
Ursula David is out to dispel the perception that modular homes are little more than glorified double-wides. David, who started Ursula David Homes 20 years ago, is concentrating on a new project, Indy Mod Homes, and is targeting an unlikely place for the prefabs—the urban core.
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Indianapolis moving forward with startup land bankRestricted Content

June 15, 2013
Kathleen McLaughlin
The executive director of the Land Bank of Indianapolis anticipates working with the city to issue a request for qualifications aimed at charitable and for-profit entities interested in acquiring properties.
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AT&T building's new owner targets first-floor retail

June 11, 2013
Scott Olson
Geis Properties, a division of Streetsboro, Ohio-based Geis Cos., purchased the 558,000-square-foot building for $16.5 million late last month from AT&T, which is reducing its downtown presence.
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Center Township trustee to list Mass Ave buildingRestricted Content

June 8, 2013
Kathleen McLaughlin
The township board in late May gave Trustee Eugene Akers permission to list the property, which has a five-story office building on 1-1/3 acres of land.
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Riley CDC names successor to retiring executive directorRestricted Content

June 8, 2013
Eric Strickland’s appointment was effective June 1. He brings more than 18 years of engineering, real estate development and economic development experience to the organization.

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Fishers, Noblesville put cuffs on charities to recoup tax revenue

June 8, 2013
Andrea Muirragui Davis
Two growing Hamilton County communities looking to build their commercial tax base are taking steps to ensure land targeted for development doesn’t end up in the hands of organizations that don’t pay taxes.
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Vacant GM stamping plant to be demolished

June 7, 2013
Kathleen McLaughlin
The 2.1 million-square-foot plant, which sits on 102 acres near downtown, opened in 1930 and employed more than 5,000 at its peak. That number was fewer than 700 when it closed two years ago.
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City’s first spec office building in 5 years opening doors

June 5, 2013
Scott Olson
Sourwine Real Estate Services expects to have its $12 million, 80,700-square-foot project finished later this month in one of the city's hottest north-side development areas.
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Muncie council backs $60M project near Ball State

June 4, 2013
Associated Press
The Muncie City Council has approved financing for a six-story parking garage as part of a planned $60 million project with apartments and commercial storefronts.
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Carmel council clashes over support of Midtown project

June 4, 2013
Andrea Muirragui Davis
The Carmel City Council will not support Pedcor Cos.’ application for a state tax credit to help pay for a $100 million redevelopment project—a contentious decision Mayor Jim Brainard called “unusual and illogical.”
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Bank seeks to foreclose on architectural firm’s HQ

June 3, 2013
Scott Olson
KeyBank has filed a lawsuit against A2SO4 Architecture and is asking a judge to appoint a receiver to manage the property at 540 N. College Ave. The bank says it is owed nearly $1 million.
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IndyGo jettisons big-name designersRestricted Content

June 1, 2013
Scott Olson
An internationally known architectural team chosen to design a proposed IndyGo transit hub is no longer on the project, to no surprise of local architects who insist the transit agency botched the selection process from the start.
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Mainstreet plans $9.2M nursing home on northwest side

May 31, 2013
Kathleen McLaughlin
The 65,000-square-foot nursing-home and assisted-living facility would feature an Internet cafe, movie theaters and restaurant-style dining with an on-site chef.
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Carmel panel refuses to back Midtown redevelopment plan

May 29, 2013
Andrea Muirragui Davis
A $100 million proposal to reinvent an old industrial area in downtown Carmel hit a snag Tuesday, when a City Council committee decided not to pursue a state tax credit that could help fund the project.
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Fishers buys properties, moves dirt to draw developers

May 28, 2013
Andrea Muirragui Davis
Officials have quietly struck deals with more than a half-dozen property owners in the triangle-shaped targeted area west of Lantern Road, east of the railroad tracks and north of 116th Street.
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Horizon Bank gains access to Mass Ave with building purchase

May 28, 2013
Scott Olson
Michigan City-based Horizon Bank bought the two-story building at 302 N. Alabama St. for $1.5 million and is embarking on a "substantial" investment in the property.
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$225M Westfield project in works

May 25, 2013
Andrea Muirragui Davis
Developer Steve Henke’s vision for Grand Park Village is grand: a 20-acre lake surrounded by an East Coast-style boardwalk lined with restaurants and shops. He sees a carousel at one end of the lake and a Ferris wheel at the other—with a beach, mini marina and watering hole in between.
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High-profile developer chases Indy debutRestricted Content

May 25, 2013
Scott Olson
Cleveland-based Forest City Enterprises Inc., developer of the 76-story New York by Gehry in New York City, is teaming with Keystone Group in its bid to redevelop a prime piece of downtown real estate where Market Square Arena once stood.
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Broad Ripple project takes heat at Village meeting

May 24, 2013
 IBJ Staff
Jeering and catcalls greeted officials from Browning Investments, which has proposed the $18 million residential and retail development along the Central Canal.
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Pittman pitches $90M mixed-use project for Zionsville

May 22, 2013
Andrea Muirragui Davis
One of the highest-profile tracts of undeveloped land in Zionsville could be transformed into a commercial and residential hub if Pittman Partners' 62-acre project gets the town’s blessing.
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Athenaeum weighs bids for surface lot redevelopment

May 18, 2013
Scott Olson
Three developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to the historic Athenaeum building.
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Greenwood, Whiteland try to spur, shape growthRestricted Content

May 18, 2013
Kathleen McLaughlin
Two Johnson County communities are determined to capture—and control—the next wave of suburban growth.
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Development may spawn TIF tug of warRestricted Content

May 11, 2013
Kathleen McLaughlin
The developer of a $17 million mixed-use project proposed for Broad Ripple is expected to seek a city subsidy—support that at least one City-County councilor believes should be reserved for neighborhoods starved for investment farther south.
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Whitsett goes big with Star project

May 10, 2013
Scott Olson
A local developer plans to tear down part of the Indianapolis Star’s downtown headquarters while saving most of the building in a redevelopment that calls for 350 apartments—more units than the massive CityWay.
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