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.
A 148-room Cambria hotel is planned for South Meridian Street, less than one year after a local developer scrapped plans for a hotel near the same location with the same brand.
Louisville-based Investment Property Advisors is planning 279 additional units and more than 28,000 square feet of retail space just south of its 9 on Canal project, to be dubbed 350 West.
Through a series of developer partnerships that included $53 million in private funding, more than $90 million worth of new buildings and infrastructure improvements have been added along or near North Green Street.
The city has spent the past several years remediating the former railyard site and marketing it for potential development.
Plans for the development include a 220-room hotel and 32 residential units. The addition would boost the existing historic building from four to 26 stories.
The neighborhood’s community development corporation has recast its vision for the expansive [email protected] project and hopes to begin construction of its first phase of apartments next summer.
For the past 12 years, Chad Halstead, 39, has helped land government incentives for some of the area’s biggest real estate developments.
Circle Centre’s role as a hospitality gateway and downtown attraction was among the topics covered during a wide-ranging panel discussion at IBJ’s Commercial Real Estate and Construction Power Breakfast.