Town officials hope plans for a roughly five-story, $70 million mixed-use project will spur additional development and help transform the nondescript downtown into a cluster of retail and residential character.
A plan to save the 1927 structure is beginning to take shape as part of a larger effort to transform the three-block stretch of East 10th surrounding the Rivoli into a magnet for arts-based organizations.
King Park Development Corp. is pursuing another developer to rehab the building on East 16th Street after a Noblesville firm pulled out of a deal to convert part of it into a hub for food-and-beverage startups.
Indianapolis will be the first market where 21c Museum Hotels LLC competes with established art-centric hotels. Yet the company is so bullish about its future here that it expects to outperform its peers by more than 50 percent.
Housing and Urban Development Secretary Julian Castro announced the new Promise Zone designations Tuesday. The program seeks to increase economic activity, improve educational opportunities, improve health and reduce violent crime.
Since early March, when city officials announced plans to establish the moratorium in commercial areas adjacent to neighborhoods, the Indianapolis Department of Code Enforcement has received 18 applications to build at locations that would be subject to the ban.
Indiana is working on plans to build a $25 million state archives building on the Central Canal downtown, taking up green space and adding another institutional user to the Canal Walk. The canal site, across from the Indiana History Center, beat out three other locations the state evaluated.