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Sales/acquisitions
Giant Oaks LLC bought the 72-unit Giant Oaks Apartments at 1312 W. 8th St., Anderson. The price was $2.01 million. The buyer and seller, Giant Oaks Apartments Inc., were represented by Colin M. Atkinson of Marcus & Millichap. The seller developed the complex in 1968.
Northwest-side apartment complex faces foreclosure
Fannie Mae filed a lawsuit in Marion Superior Court Tuesday, seeking foreclosure and the appointment of a receiver at Arrowwoods Apartments over an unpaid note of $4.56 million.
City-County Council OKs North of South project funding
The $155 million complex, to be built primarily on Eli Lilly and Co.-owned parking lots at Delaware and South streets, is to include a boutique hotel, a YMCA, apartments and retail and office space.
North of South development to start this summer
Now that financing for Buckingham Cos.’ massive project has the city’s blessing, the local developer is turning its full attention to construction of the 14-acre, mixed-use complex.
Deal to redevelop Bank One garage full of twists, turns
The city of Indianapolis is finally poised to close, after three years of twists, a complex redevelopment deal on the 1,600-space former Bank One parking garage.
Work begins on mixed-use Trail Side on Mass Ave
Construction began this week on Trail Side on Mass Ave, a four-story apartment and retail project by Riley Area Development Corp and Monument Realty.
Man stabbed in apartment break-in
A north-side Indianapolis man told police he was stabbed by two men trying to steal his TV at about 4 a.m. Thursday. The 30-year-old victim told police he was asleep on his couch in his living room in the River Road Apartments complex near 96th Street and Gray Road when he was awakened by the men. They attacked him after he tried to stop them from taking his TV. One suspect pulled a pocket knife and stabbed the victim once in the back. The victim was taken to a hospital with a non-life-threatening injury. The suspects fled empty-handed.
Police investigate baby’s injuries
Indianapolis Metropolitan police are investigating how a 5-month-old girl suffered serious injuries to her body, including burns and broken bones. The baby was first taken to St. Francis Hospital in Beech Grove on Saturday night, but her injuries were so severe that she was transferred to Riley Hospital for Children. Residents in the Southgreen Apartments complex on the south side were told that the abuse appeared to have happened between Feb. 16-19 while the child was in the care of one of the residents. The baby’s 19-year-old mother declined an interview request from Fox59.
Home construction weak both locally, nationally
Home building in the Indianapolis area fell by more than 30 percent n January over the same month of 2010.
Sales/acquisitions
Park Madison Investors LLC bought the 56-unit Park Madison Apartments at 614 Park Madison Drive, Greenwood. The price wasn’t disclosed. The seller, Regal Development LLC, was represented by Joe Esselman and Catherine Esselman of Penn Real Estate Inc. The buyer represented itself.
Whitsett proposes 86-unit downtown apartment project
The $7.2 million project, to be financed with affordable-housing tax credits, involves retrofitting the three-story former Central Restaurant Products building to accommodate one- and two-bedroom apartments.
Glick partners on $30M downtown apartment development
The lead developer on a long-delayed proposal to redevelop the former Bank One Operations Center has landed a powerhouse partner: apartment developer Gene B. Glick Co.
Apartment fire starts in laundry room
A Friday morning fire that began in a laundry room at Reflections Apartments near 79th Street and Harcourt Road caused about $90,000 in damage, Indianapolis firefighters say. The damage was mainly contained to one apartment unit.
Developer plans $24M second phase for Cosmopolitan
The developer Flaherty & Collins is finalizing plans for a second phase of Cosmopolitan on the Canal that calls for 162 more apartments and 180 parking spaces at a cost of about $24 million.
LOU’S VIEWS: Feasting on First Friday
Plus thoughts on “Diary of Anne Frank” and Indianapolis Chamber Orchestra meets Chaplin
Six children escape fire
Six children under age 15 escaped safely from their home in the 2500 block of West Washington Street in Indianapolis as it went up in flames Wednesday night. One of the children was making chicken nuggets when a pan full of grease caught fire, starting the blaze. Neither parent was home. Authorities estimate about $100,000 worth of damage was done to the house, which is divided into apartments.
City agency signs off on North of South site plans
Regional Center Hearing Examiner gives blessing to the $155 million development’s master plan. Site plans will go before the Metropolitan Development Commission on March 2.
Keystone Towers heading toward demolition, city says
An Indianapolis Department of Metropolitan Development official says the city has plans to tear down the abandoned 15-story Keystone Towers complex at Allisonville Road and Fall Creek Parkway and seek proposals for redevelopment.
Apartment fire displaces 30
A major apartment fire on the east side displaced 30 people Tuesday night. Fire crews responded about 8:20 p.m. to the Spanish Oaks Apartments, but were delayed by about 10 minutes by frozen hydrants. By that time, the fire had burned through a large section of the roof. No injuries were reported. Firefighters said they had a difficult time interviewing residents about the cause of the fire because most of them were Hispanic and spoke little English.