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Articles
New Christian Theological Seminary president embracing the arts
New Christian Theological Seminary President Matthew Myer Boulton wants to create a more vibrant atmosphere at CTS, by attracting younger students who can live on campus full time and by drawing the general public for lectures, concerts and religious events on a regular basis.
$5.8M project slated for former BMV branch
A local developer has filed plans to build 64 apartments and a 1,700-square-foot cafe to replace a former BMV branch and parking lot at 531 Virginia Ave.
Apartments, retail planned for Virginia Ave. corridor
Call it Extreme Makeover: Holy Rosary. Just about every building and corner along a four-block stretch of Virginia Avenue in this historic neighborhood southeast of downtown is under construction or will be soon.
Developer proposes $22M project for Keystone Towers site
The Whitsett Group LLC’s plans call for a $22 million project that would include nearly 140 apartments and a retail component on the property where Keystone Towers stood. The company submitted the lone bid to the city to redevelop the site.
Man shot, killed at local apartments
Indianapolis police detained a 21-year-old man Thursday morning in connection with a fatal shooting on the northeast side of Indianapolis. The shooting occurred just before 7 a.m. at Georgetown Apartments in the 3600 block of Alexandria Court. When officers arrived, they found a 33-year-old man with a gunshot wound to the chest dead in a hallway of the apartment building. The suspect was taken into custody without incident. Neighbors said the two men were having a disagreement about a woman.
Commission approves demolition for Indy East Motel
The Indianapolis Historic Preservation Commission unanimously approved the demolition of the former motel at 5585 E. Washington St.—with a few conditions. Developers plan an $8.7 million project for the site.
Waiting for construction industry to recover
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.
Sales/acquisitions
-Gene B. Glick Family Housing Foundation bought the 240-unit Thompson Village Apartments on Thompson Road near State Road 135. The sale price for the property, which was listed for $9.5 million, wasn’t disclosed. The buyer and the seller, New York-based The Embassy Group, were represented by Tikijian Associates.
-An affiliate of PackageRight Corp. bought a 54,136-square-foot manufacturing facility at 802 Berryman Pike, Tipton. The price wasn’t disclosed. The seller, SPM Real Estate Inc., was represented by Stan Elser of Lee & Associates. The buyer represented itself.
Fire that killed IU student probed
Authorities say investigators haven’t found any signs of criminal activity in connection with the fire that killed an Indiana University student Saturday at an apartment complex near the Bloomington campus. The state fire marshal’s office is helping city fire investigators determine what caused the blaze at the Terra Trace Apartments. The fire killed 19-year-old Renee Ohrn of Gary and destroyed 12 apartments. Ohrn was prom queen this spring at Andrean High School in Merrillville and was a starter on the school’s soccer team.
Toddlers placed in protective custody
Four toddlers were put in protective custody after a maintenance worker found them roaming the property at the Arbors at Cumberland Apartments in Indianapolis on Wednesday afternoon with no adult in sight. Police said the children, ages 2 and 3, were shoeless and half-dressed. Police went door-to-door at the complex but didn’t find their parents until they received a phone call Wednesday night. A man who was supposed to be watching the children apparently left without telling anyone. The mothers initially were placed in police custody but later were released. Charges of neglect might still be filed.
Investor Buffett gets behind east-side revitalization project
Warren Buffett joined other investors and Indianapolis community leaders Wednesday morning for a ribbon-cutting ceremony at the $27 million East Village at Avondale apartment project.
Developer zeroes in on troubled Irvington site
A developer that wants to replace a vacant Irvington motel with an $8.7 million apartment building could get permission as early as next week to clear the site for redevelopment.
Fire ruins 42 Speedway apartments
One firefighter and one resident were hurt Thursday evening in a Speedway blaze that displaced 42 families. Fire crews from Indianapolis, Pike Township, Wayne Township, Avon and Speedway spent three hours battling the fire, which broke out at about 6:40 in the 2000 block of High Eagle Trail at Eagle Lake Landing. Three units initially caught fire, and more than 40 of the 62 units suffered heavy damage. The cause is being determined.
Woman hits police car, flees scene
Indianapolis police tracked down a woman who fled the scene Monday morning after slamming into the back of a squad car on the south side of Indianapolis. An officer was parked near Southern Avenue and Shelby Street about 1:45 a.m. when his police car was struck from behind. Police said the woman took off to the nearby Laurelwood Apartments, where she was apprehended. No one was injured.
Multi-family housing project slated for Monon Trail
King Park Area Development Corp. is partnering with an Indianapolis developer on an $8.7 million residential project to improve a blighted parcel along the trail.
Sales/acquisitions
-Sam Kwon of Vesta Pharmacuticals bought a 20,000-square-foot, multi-tenant building at 5470 Thunderbird Road. The price wasn’t disclosed. The seller, Kern-Lee Properties, was represented by Keith Dedrick of Corporate Commercial Group. The buyer represented himself.
-St. Louis-based Thiemann Real Estate bought the 424-unit Keeneland Crest apartments at Interstate 65 and Stop 11 Road. The purchase price wasn’t disclosed. The seller, Harbor Group International LLC, was represented by Steve LaMotte and Dane Wilson of the Indianapolis-Cincinnati Multi-Housing Group of CB Richard Ellis. The buyer represented itself.
Owner of East Market Street buildings eyes apartment conversion
Crown Property Group is issuing a request for proposals for two East Market Street buildings that now are used for office space.
Apartments gutted by fire
A northwest-side apartment building was hit by two fires within 12 hours Sunday afternoon and early Monday morning. Guion Creek Apartments, in 5900 block of Guion Road, was heavily damaged by fires that occurred at 2 p.m. Sunday and 1 a.m. Monday. No injuries were reported but at least six families have been displaced. Investigators are trying to determine the cause of the fires and whether they were related.
Hot apartment market sees robust sales
Gene B. Glick Co.’s purchase of the 240-unit Thompson Village apartment complex on the south side is the most recent deal in a year full of apartment transactions.
