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Tammy Lieber

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Carmel’s Sunrise Café may be nearing sunset: Developer would raze café to make way for retail, office

A longtime favorite spot to conduct business over breakfast on the far-north side will close if plans to sell the building that houses Sunrise Café come to fruition. Locally based Meridian Asset Development has the café building and a surrounding 2-1/2-acre lot at 11450 N. Meridian St. under contract. The seller is an Omaha, Neb.-based trust that owns it and a nearby office building. If the sale closes as expected in the coming weeks, Meridian Asset plans to raze the…

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Keystone Towers in financial bind: Owner with grand plans faces foreclosure

The latest attempt to revive the 15-story Keystone Towers apartment complex appears to be in danger of derailing amid a threatened foreclosure and unpaid bills from contractors. The landmark complex at Allisonville Road and Fall Creek Parkway on the northeast side has been largely vacant since 2001, when previous owners defaulted on the mortgage and the property was sold at a sheriff’s sale. The apartment complex, built by local developer George Ginger in 1974 as the VIP Center, originally included…

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More condos planned for north Lockerbie: Mill No. 9 developers teaming up again to bring townhouses to Dinmont-owned land north of Michigan Street

North Lockerbie LLC, a subsidiary of Dinmont Development LLC, filed plans with the Indianapolis Historic Preservation Commission Jan. 27 to build brick townhouses on the land. The $20 million project, to be called Lockerbie Park, will be jointly developed by Dinmont and locally based Hearthview Residential. The development sits at the northwest corner of Michigan Street and College Avenue on land that in 2001 was slated for a multi-use project that would have included 100 condos, plus retail and office…

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Making room for art: Renovated northeast-side factory to target artist tenants

An Indianapolis native with an interest in troubled real estate has set his sights on creating an arts center in a former factory in the Martindale-Brightwood neighborhood. Investor Robby Richards has purchased the former Atlas Engine Works at 2045 Andrew J. Brown Ave. and is in the process of cleaning it up to lease to artists and others interested in the space. Richards hasn’t formally marketed the space and only recently hooked up with a broker, but he said word…

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Duke scratches spec itch on far north side: Nine Parkwood doesn’t signal new building boom

A strong leasing year in the Meridian corridor Class A office submarket led Duke Realty Corp. to break ground on a speculative office building, but local experts don’t expect other developers to follow Duke’s lead anytime soon. Site work has begun on Nine Parkwood Crossing, the final building in Indianapolis-based Duke’s project on 96th Street east of Meridian Street. Completion is set for January 2006. Minnesota-based American Family Insurance will occupy 45,000 square feet of the building, moving its offices…

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Retail beginning to take hold on Michigan Road: Browning eyes 100 acres for retail or mixed-use

Browning Investments Inc. has nearly 100 acres under contract in the rapidly growing Michigan Road retail corridor. The locally based developer hasn’t yet cemented plans for the land, but they could include purely retail or a mixeduse development with multifamily, flex/office and retail components, said Vice President of Development James W. Browning. Most retail on the site would likely be highway-oriented, such as hotels or outlets of national chain restaurants, he said. The parcel, under contract from various owners, lies…

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New plan, player for tower: Facing deadline, developer hopes design shift lures buyers

Developers struggling to meet the pre-sale threshold for high-rise condos on the Market Square Arena site have tapped a Chicago firm to formulate a more marketable mix for the first phase. Mesa Development LLC is working with the team on a fee basis, said Terry Parrott, manager of Market Square Partners, which was chosen nearly a year ago to build twin 29-story, 225-unit condominium towers and 175,000 square feet of retail space on the four-acre site formerly occupied by Market…

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Stadium’s pathway not clear: CIB must make land deals with Comfort Inn, Hurst Co.

It’s up to legislators to approve whether and how the city’s proposed $900 million Indiana Convention Center expansion and stadium complex would be funded, but a handful of property owners that have title to land in the planned stadium’s path will also play a role in determining the project’s fate. The Marion County Capital Improvement Board is working with owners of the few pieces of property it still needs for the construction project and associated parking lots. CIB owns about…

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Zipper’s future open to speculation:

The fate of “the Zipper Building,” a black-and-white office building at Washington Street and Virginia Avenue, is the subject of rampant speculation amid news a sale is pending. The three-story flatiron-style building at 117 E. Washington St. is owned by a locally based partnership and managed by Freihofer Commercial Real Estate. Firm owner Walter Freihofer confirmed the building is under contract, but would provide no details, including when the sale is expected to close. He also would not identify the…

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Downtown dining changes flavors: New year brings eatery moves, winner in chocolate war

A victor has emerged from the Monument Circle chocolate war, and the spoils go to the Indiana-based warrior. Rocky Mountain Chocolate Factory closed its store at 28 Monument Circle Dec. 31, leaving South Bend Chocolate Co.’s Chocolate Café next door as the Circle’s sole sweets source. The franchise’s closing is one of several changes afoot in the downtown restaurant scene. Coming attractions include an Oregonbased seafood chain and the return of local favorite Eh! Formaggio, which is shopping for a…

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Wal-Mart nears deal on city’s northwest side: Neighbors hope retail behemoth will revive corridor

Wal-Mart Stores Inc. is said to be getting closer to selecting a site in the Lafayette Square area for a SuperCenter, a move retail experts say would be a boost for the struggling commercial corridor. The world’s largest retailer has scouted the area around 38th Street and Lafayette Road for at least a year, but a decision on a site could happen in the next few months, according to several real estate sources. Unlike the situation surrounding a proposed SuperCenter…

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