The city of Indianapolis is going back to the drawing board — again — on its efforts to revitalize Old City Hall after walking away from a long-stalled deal.
Mayor Joe Hogsett’s administration offered a lifeline in September to Indianapolis-based developers Gershman Partners and Citimark in their efforts to redevelop the Gold Building downtown, a project that has been hampered by financial challenges that nearly derailed it.
A city commission is backing the Hogsett administration’s effort to salvage the long-planned redevelopment of the Gold Building downtown, which for months has been hampered by financial challenges that nearly derailed it.
The Gold Building conversion at 151 N. Delaware St. is expected to replace 400,000 square feet of office space with more than 350 apartments and nearly 8,000 square feet of ground-floor retail.
Multiple retailers, restaurants and other businesses and organizations recently opened or began planning new locations in the north suburbs of Indianapolis. Here’s a rundown.
A representative for the buyer said that Indianapolis’ rank as one of the best markets in the country for rent growth—that is, increases in rent prices—played a key role in the decision to buy Cosmopolitan on the Canal.
Morse Village would have 250 high-end single-family houses, 150 town houses, 250 multifamily residences and 30,000 square feet of commercial space and restaurants.
In total, the $113 million, three-phase Reimagine Pleasant Street project involves extending, realigning and expanding Pleasant Street into a 2-1/2-mile corridor from State Road 32 to just west of State Road 37.
Plans for The Granary call for a four-story building and parking garage with 225 luxury apartments, 5,000 square feet of retail space and about 300 parking spaces for residents and the public.
Since it was completed in 2018 at a cost of $120 million, the tower has become one of the city’s priciest residential properties, with an average rent of $2,365 per month, or $2.58 per square foot.
With funding plans for a proposed soccer stadium clearing another hurdle this week, Indianapolis leaders, developers and brokers are beginning to evaluate the impact such a project could have on the near-east side of downtown.
An Indiana Senate committee on Tuesday adopted an amendment to a bill originally aimed at disbanding the recently-created Mile Square economic enhancement district, essentially keeping the designation in place, but with several changes.
