The owner of a multi-building campus spread over 15 acres on the southeast side is accepting offers on the site that once served as an asylum and more recently housed low-income elderly residents.
Chase Development plans to build six, four-story townhomes along with six more traditional houses on a 1.25-acre parcel between Michigan and North streets.
Developer J. Greg Allen had planned to build condominiums on the site before the housing market crashed. He relinquished the property to his lender, BMO Harris.
Indianapolis Business Journal gathered leaders in the state's commercial real estate and construction industry for a Power Breakfast panel discussion Sept. 13. The following is an unedited transcript of the discussion.
Eric Bretzman, an engineer for Chip Ganassi Racing, closed March 1 on the purchase of 40 S. Main and negotiated a new long-term lease with il Villagio, an Italian restaurant that has operated in the 4,000-square-foot building for 10 years.
The recession officially ended more than two years ago. But the number of local construction jobs is still down 27 percent from 2007 levels. Will the industry ever feel relief? Some segments might not recover in a big way until 2013.
The real estate bust and a drought in transactions make values all but impossible to gauge.
