City secures $24M loan from state for ‘confidential’ downtown project
The loan, which was approved by the Metropolitan Development Commission, is expected to be used for “downtown redevelopment efforts.”
Mickey Shuey
Articles
Downtown office space at crossroads, local broker says
John Robinson, managing director for the Indianapolis division of Chicago-based JLL, said during an IBJ panel discussion Friday that he expects at least three of downtown’s 10 major office towers to go through foreclosure or take big losses in a sale over the next few years.
Apartments planned for former bar site near Lucas Oil Stadium
A Greenfield-based developer plans to demolish the former Stadium Tavern to make way for a four-story apartment building.
Youth-racing initiative that focuses on children of color aims to gear up
NXG Youth Motorsports has signed an option to purchase a 2.2-acre, city-owned plot just west of the former Central State Hospital site on the west side of Indianapolis.
Local coffee shop to take former Starbucks spot on Monument Circle
Command Coffee has signed a long-term lease for the space, which Starbucks vacated late last year, citing concerns about the safety of its employees.
City issues RFP for redevelopment of Drake apartment property
The request for proposals requires bids to include an offer of more than $1 million for the property and to fulfill federal Community Development Block Grant parameters
TWG’s ambitious Old City Hall proposal chosen over several other bids
A few of other bids were similar to the selected proposal put forth by TWG Development, while others went in a distinctly different direction. Here’s a look at those proposals.
Haughville housing project, initially opposed by neighbors, moving forward with changes
Earlier this month, more than a dozen Haughville residents who live near the project held a press conference to express frustration with Buckingham Foundation’s decision to move forward with the project despite their misgivings.
Projects spur renaissance of North Mass, once considered eyesore of city’s past
In the past decade, the area has grown into one of the region’s hot spots, in part because a handful of developers is embracing the area’s industrial roots.
Lucas Oil Stadium to remove, replace controversial turf next year
The NFL Players Association last year called on six venues to change their playing surfaces, saying the turf in those stadiums resulted in “statistically higher in-game injury rates.”
Convention Center, Lucas Oil Stadium operator eyes $180M budget
The Capital Improvement Board on Friday approved a $180.4 million budget for 2024, up from about $155 million last year.
New plaza at Gainbridge Fieldhouse opens with public events
Pacers Sports & Entertainment plans to host several public events this weekend, inviting residents and visitors to experience the new plaza.
Signia, convention center expansion clear early design hurdle
The plan allows for a 468-foot-tall hotel tower—which would make it the tallest hotel in the state, and the fourth-tallest building overall.
Lafayette Square Mall owner delays reopening, developing much bigger plan
Sojos Capital principal Fabio de la Cruz—who introduced an ambitious $200 million project for the northwest-side property in November 2021—said the new master plan will require much more investment and involve multiple development partners.
Circle Tower owner facing foreclosure for alleged nonpayment
Chicago co-working company Expansive bought the landmark building on Monument Circle before the pandemic. Centier Bank says Expansive still owes $12.9M on its loan and has fallen behind on payments.
Developers plan affordability-minded $25M apartments along Monon Trail
The development partners, operating as DJ BCG Monon 22 LLC, have the land under contract from the Indianapolis Neighborhood Housing Partnership, which acquired the site in February 2022 for $2.25 million.
NXG Youth Motorsports planning to buy site at Central State for new headquarters
A local motorsports not-for-profit plans to acquire more than two acres at the former Central State Hospital campus on the west side of Indianapolis with a goal of converting the property into a new multi-building headquarters.
After building sale, 500 Festival planning to leave downtown HQ for North Mass corridor
The not-for-profit group that organizes events celebrating the Indy 500 sold its headquarters building in November, in part to tighten its focus on operations and away from property management.
Indy airport sees return of Salt Lake City nonstop route, upgraded San Fran service
The Salt Lake City route, which was discontinued in February 2022 by Delta Air Lines, will start back up early next year.
Purdue to sponsor Stewart-Haas team car in Sunday’s Brickyard race
Purdue’s sponsorship of the vehicle, financial terms for which were not disclosed, comes on the heels of the university sponsoring another Stewart-Haas car, which competes in the Superstar Racing Experience.