The Indianapolis Historic Preservation Commission on Wednesday voted to approve changes to the design and construction timeline for a downtown condominium project planned along South Meridian Street.
The city of Indianapolis was told Wednesday by a judge that it can’t begin eminent domain proceedings on the former GM stamping plant site until its ongoing legal dispute with development firm Ambrose Property Group has been resolved.
According to filings with the city, the project would consist of 17 two-story town houses over two blocks along East 16th Street.
The mall’s proposed sale is considered by industry experts to be welcome news for a lower-income neighborhood trying to make a comeback.
Sources said Eight Eleven Group is hoping to build a five-story office building, an adjacent four-story apartment structure and an underground parking garage where 200 to 250 people will be employed.
The three hotels at the intersection of Interstates 70 and 465 have nearly 500 rooms between them. The largest, a Marriott that serves as an overflow hotel for big downtown events, is slated for a renovation that could run between $10 million and $20 million.
Scott Wise, who founded the once-flourishing Scotty’s Brewhouse restaurant chain, starts Tuesday at CBRE’s Indianapolis office, joining a team of 12 brokers in the office’s retail division.
Negotiations could be difficult, given that both sides have strong arguments, legal experts say.
The average season-ticket price for 2020 will rise 2.9 percent, according to the Indianapolis Colts, but about two-thirds of the tickets will be priced the same or less.
The project—part of a $70 million master plan for the park approved last year—is expected to feature a 40,000-square-foot building in place of the existing park center.
The company said in its 28-page complaint that Mayor Joe Hogsett’s administration had threatened to take the site through eminent domain in 2017—two years before it’s latest threat to use the legal maneuver to buy the land. That led Ambrose to add a clause to its project agreement with the city meant to prohibit the Hogsett administration from pursuing eminent domain in the future.
The bankruptcy of Marsh has forced developers throughout central Indiana to find creative reuses for the former supermarket spaces. In Martinsville, plans are being finalized to transform a Marsh husk into a two-level apartment project as part of a $3 million redevelopment.
The process will give developers an opportunity to introduce ways to preserve the 91-year-old building at 3060 N. Meridian St., which the museum had planned to demolish.
Brad Litz, who created Litz & Eaton in 2011 is facing multiple lawsuits from a lender and one form his former partner, John Eaton,
The developer was forced to rethink the project across from Circle Centre mall after anticipated costs ballooned past the expected $8 million to $10 million investment.
The Indy Eleven drew average crowds of more than 10,000 per game to Lucas Oil Stadium in their second year in the United Soccer League.
The acquisition of Hulman & Co. will give Penske Corp. control of about 37% of all the land in Speedway, making the company the town’s single-largest landowner. Roger Penske said he wants to take advantage of that land.