Indianapolis-based Westport Homes Inc. plans to ask the city’s Metropolitan Development Commission for approval to rezone two tracts of land for two subdivisions totaling 155 acres.
If all of the plans move forward, downtown would see an unprecedented deluge of new rooms. But developers and lenders are fretting over whether the market can support them.
The development firm scrapped its plans last month for a $1.4 billion mixed-use development at the former GM stamping plant site on the west edge of downtown. That led the Hogsett administration to say it will take legal action if necessary to buy the land.
The sale was scheduled to take place Thursday and Friday but a clerical error forced the Treasurer’s Office to cancel the event. Nearly 1,200 parcels with minimum bids totaling some $6 million were to be auctioned and will now be available at the rescheduled sale in February—unless the owners pay their delinquent taxes.
Changes are in the works for several city-owned golf courses, after the Indianapolis Parks Department agreed to new, 10-year management contracts that are awaiting approval from the City-County Council.
The 4.5-acre site catty-corner to the downtown hospital complex is earmarked for a 250,000-square-foot office building and seven-level parking structure, to be connected by a skybridge. It also would include a grocery store.
CraftMark Bakery, the baked goods supplier for more than 70,000 restaurants in North America, is planning another expansion that would bring employment up to 446 by the end of 2022.
A 206-room, dual-branded hotel planned for a downtown parking lot won approval Wednesday night from the Indianapolis Historic Preservation Commission.
Ambrose’s withdrawal from Waterside follows other changes at the firm, including the May defection of three senior executives to start Westfield-based Patch Development.
The letter from the city’s corporate council to Ambrose says that to “avoid the delay and expense of a court process, we would welcome the opportunity to begin negotiation acquisition of the property immediately.”
The parcels, which are south of West Washington Street and east of South Harding Street, are expected to be turned into permanent parking lots and additional zoo exhibits in the coming years.
Shelbyville Central Schools bought the property and spent $13 million on a wholesale renovation and redesign to accommodate hundreds of children.
Indy Propco LLC, which has owned the 11-story building at 1 N. Meridian St. since January, wants to turn the property into a Motto by Hilton that would have at least 116 rooms, according to plans recently filed with the Indianapolis Historic Preservation Commission.
The board carries $56 million in liability insurance for its facilities, including a $1 million general liability policy and a $55 million umbrella policy.
Indianapolis-based developer Kite Realty Group Trust is asking the cities of Carmel and Indianapolis to ante up incentives for a trio of mixed-use projects in its pipeline.
Real estate developers and experts suspect the firm couldn’t get access to enough capital to move forward with the massive, 103-acre development. Opinions are mixed on whether the site should remain intact or be split into multiple projects.
The eight broadcasts on NBC had an average of 929,000 total viewers—up 3% over the four non-Indy 500 races on ABC last year. NBCSN broadcast the other eight races on the schedule.
The past-its-prime Wi-Fi system at the Indiana Convention Center could get a big boost in 2020, as its owner looks to make $5.7 million in enhancements to the venue.
TWG Development’s Tony Knoble and Justin Collins are joining Big Red executive Don Rix as new co-owners of the state’s largest package liquor store chain, alongside founder Mark McAlister.
Indianapolis officials expect to move forward with razing the blighted northeast-side complex, after the owner failed to request a last-ditch hearing by the state’s Supreme Court.