Fresh rendering: $7.6M senior apartments and retail
Keystone Construction plans to break ground next week on a $7.6 million senior apartment building at 10th Street and Keystone Avenue.
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EDITORIAL: Building safety requires oversight
The saga of the Di Rimini apartments is a cautionary tale, and one Indianapolis officials would do well to heed.
Carjacking suspect chased down
A carjacking on the east side of Indianapolis led to a 7-mile police chase along East 38th Street late Tuesday night. Police said an undercover officer saw the crime happen in the Spanish Oaks Apartments near 38th and North Mitthoeffer Road. The undercover officer tried to make an arrest, but the carjacker sped off. The officer was able to stop the chase near 38th and Keystone Avenue. The accused carjacker was arrested.
Di Rimini violations reveal holes in process that relies on trust
Brazen violations of city design guidelines and state building codes by the developer of the Di Rimini apartments cast a spotlight on what is essentially an honor system of regulation for developers once they win approval for their projects.
Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
MAURER: Have patience with profits
To create a disciplined investment philosophy, I evolved “The Ten Essential Principles of Entrepreneurship You Didn’t Learn in School.”—Over the course of 10 columns, I will feature each of these essential principles. This is the eighth installment.
EDITORIAL: A last chance for City Market
We like the changes afoot at City Market. But if the latest attempt to reposition it doesn’t work, the city should consider mothballing the beloved old building until its surroundings become a benefit rather than a liability.
Owner of city apartment complex files Chapter 11
The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.
Greenfield apartment market heats up with sales, development activity
The Hancock County community is drawing interest because of recent hiring in the area and a strong population of seniors.
Fire marshal: DiRimini lacks fire walls, sprinkler system
The state's fire marshal issued an emergency order Thursday barring occupancy of the DiRimini apartment project after the developer apparently continued to move in residents in defiance of city orders.
Armed man holds up gas station
Metro police are investigating an armed robbery of a northeast-side gas station. Authorities received a hold up alarm about 3:15 a.m. Thursday from inside the Speedway gas station near 71st Street and Binford Boulevard. The clerk described the suspect to police as a black male, about 5 feet tall, dressed in all black, wearing a black bandana around his face and carrying a black semi-automatic hand gun. The suspect got away with an unknown amount of money and was last seen running toward Avalon Lakes Apartments across 71st Street.
Sales/acquisitions
-McCallan Properties LLC bought the 77-unit Eastgate Terrace Apartments, 7036 E. 10th St., for $1 million. The buyer was represented by Chad Stickley of Marcus & Millichap. The sellers, Jim and Pat Candler, were represented by Scott Pollom of Cassidy Turley.
-Clary Crossing Senior Villas LP bought 12.75 acres in The Enclave subdivision at Stones Crossing Road and State Road 135, Greenwood. The price wasn’t disclosed. The seller, Fifth Third Bank, and buyer were represented by Jim Shook, Jon Hardy and Andrew Schrage of Coldwell Banker Commercial.
-Hien Nguyen bought a former Bob Evans Restaurant building at 4760 W. 38th St. The price wasn’t disclosed. The buyer was represented by Mitchell Andrews of Andrews Realtors. The seller, Bob Evans Farms, was represented by Michael Cranfill of Sitehawk Retail Real Estate.
EDITORIAL: Judge North of South project on its merits
The city’s plan to provide an $86 million loan for the mixed-use North of South real estate development adjacent to the Eli Lilly and Co. campus has drawn criticism from those who think the city should focus first on other needs, such as IndyGo and public libraries.
Downtown praised for ‘livability’ but needs more residents
The past decade has seen roughly 5,000 more residents living downtown than in 2000, wooed by new condos and apartments within walking distance of growing retail and cultural attractions. There are now 25,000 downtown residents—but still a long way from the 40,000 city leaders want by the end of the next decade.
Man dies outside apartment building
A man found dead outside his Greenwood apartment Thursday morning by his mother may have died of a drug overdose. According to police, 24-year-old Cory Allen had recently been paroled from prison. Police say he had met with his parole officer Wednesday. Later that night, he was spotted out with friends. He was found against the side of a building at the Park Madison Apartments near Fry Road. Investigators said six people checked on him between 11 p.m. and 2 a.m., but assumed he was just asleep. An autopsy is scheduled for Friday.
Good News Ministries eyes using ex-motel to house homeless
Residents of Irvington are split over whether to support turning the former Indy East Motel into housing for homeless families.
Estridge scales back Symphony development in Westfield
The Estridge Cos. said it is reducing Symphony from a planned 1,400 acres to a size that will closer rival the Carmel-based home builder’s 436-acre Centennial development, also in Westfield.
Construction
DeVere/FCC LLC, a joint venture of DeVere Construction Co. Inc. and Flaherty & Collins Construction Inc., has started construction of the $25.5 million second phase of The Boulevard Apartments. The 213-unit complex is being built on 8.94 acres in the 1,700-acre Anson mixed-use development near Interstate 65 and State Road 334.
EDITORIAL: East 10th Street project can be repeated
When people see what’s happening on and near East 10th Street—and they will, thanks to the Super Bowl connection—they’ll see what’s possible and, we hope, join similar efforts.
Developer of senior housing buys big tract near Zionsville
Baptist Homes of Indiana Inc. closed Sept. 17 on 159 acres that encircle the Golf Club of Indiana.