The Indianapolis Airport Authority said it hopes to receive tentative approval to decommission the facility at 51 S. New Jersey St. by the end of February. It is working with the Federal Aviation Administration to secure the designation, which is crucial for future redevelopment of the site.
One of Indianapolis’ largest trade shows abruptly fired its top executive this week without explanation, just days after welcoming 50,000 attendees to its show at the Indiana Convention Center.
The CIB expects installation to begin in June and to be finished by the end of the year. The carpet should last at least seven to nine years, though the current carpet has lasted for 11 years and convention center officials believe they can match that with proper maintenance.
Officials with New York City-based SomeraRoad Inc. told IBJ the company is in the pre-development phase of at least two projects on land adjacent to the multi-building Stutz complex at 1060 Capitol Ave., which is in the midst of a $100 million renovation.
The Indianapolis-based shopping mall giant is getting a leg up on the emerging trend of online-only retailers moving into brick-and-mortar stores, a strategy analysts say could net the company a big payoff as it looks to develop new tenants.
The additional financial support will come from the Capital Improvement Board’s fund balance, which was bolstered in October with $50 million in revenue replacement funds through the federal American Rescue Plan Act.
The approval allocates $25 million from the city’s downtown tax-increment financing district to pay for the acquisition of the basement level of the project from developer Kite Realty Group Trust, which plans to build an 800-room hotel and an addition to the Indiana Convention Center.
The 36-year-old local institution expects to spend about $4 million to purchase, renovate and expand the former F.C. Tucker office at 9111 Allisonville Road to house its day-to-day operations, classrooms and rehearsal spaces.
The $550 million project includes a $125 million expansion of the Indiana Convention Center, as well as an 800-room hotel being developed by local developer Kite Realty Group Trust. A second 600-room hotel is planned for a later phase of the project.
About 81,500 households in Marion County alone are classified as “cost-burdened,” meaning they spend more than 30% of their income on housing.
Already, the zoo has raised 60%, or $31.8 million, of its goal, with gifts from several institutions, including the Lilly Endowment.
While it’s not clear what the new owner plans to do with the building, the name of the holding company indicates uses as a cold-storage or pharmaceutical facility—or both.
The approval of such a study marks the first substantive step in the airport authority’s consideration of a hotel—which would sit on the west side of the existing terminal garage—since the terminal opened in 2008.
The selection marks the tenth time Indianapolis has won a bid to host the college basketball championship event, one that has become an integral part of the city’s sports DNA.
The Indianapolis-based apartment developer plans to vacate its current headquarters in the Fletcher Place neighborhood for a newly designed space that can house twice as many employees.
The event will be returning to Indianapolis that year after an extensive hiatus. The city last hosted the women’s March Madness finale in 2016.
The changes come after Indianapolis-based Kite acquired most of the 163,500-square-foot shopping center for $29 million in January.
Since starting her blog Cornfields & High Heels, Jamie Ward has traveled extensively across Indiana and the Midwest, trying new things and journaling about her experiences.
The pop culture-focused convention, which attracted about 40,000 people each year to the Indiana Convention Center prior to the COVID-19 pandemic, will host its new Louisville event June 16-18 at the Kentucky Exhibition Center.
Nearby residents object to the project, which would include 817,000 square feet of speculative industrial space across 56.7 acres and a residential section with 133 single-family homes and another 52 homes in a paired-patio design.
