Some economists project U.S. rents will be down modestly this year after soaring nearly 25% over the past four years, but the trend will likely be little comfort for many U.S. renters.
The owners of Willows Event Center on Spirit Lake are reviving efforts to redevelop the site with apartments and townhouses, almost a year after withdrawing their proposal amid pushback from neighbors.
The Indianapolis Department of Metropolitan Development has started soliciting ideas for what could be done with the site of the former John Marshall High School, which it purchased from Indianapolis Public Schools for $725,000 last month.
The U.S. government’s most ambitious plan ever to slash planet-warming greenhouse gas emissions from passenger vehicles faces uncertainty over both about how realistic it is and whether it goes far enough.
This year’s rise in borrowing costs has made commercial real estate one of the hardest-hit areas of the economy. Property sales, especially for office buildings, have slowed to a trickle, giving landlords and lenders few markers to determine the value of certain assets.
The building, according to designs by Carmel-based Studio M Architecture and Planning LLC, will have a brick and glass facade and include a walkway constructed above 3rd Avenue SW that will connect with the existing bank headquarters.
In some ways, the work to land three Taylor Swift concerts at Lucas Oil Stadium next year began 15 years ago when country star Kenny Chesney headlined the first concert in the building a month after it opened.
Noblesville Economic Development Director Andrew Murray told the council that the developers plan to invest $475 million in the project, which is expected to have a $700 million market value when completed.
The development partners, operating as DJ BCG Monon 22 LLC, have the land under contract from the Indianapolis Neighborhood Housing Partnership, which acquired the site in February 2022 for $2.25 million.
According to Attorney General Todd Rokita’s office, at least 40 renters filed complaints earlier this year about deteriorating conditions at Lugar Tower Apartments, including a lack of security, fecal matter in stairwells and pest infestations.
Republican state lawmakers have long resisted taking up legislation strengthening tenants’ legal rights, making Todd Rokita an outlier at the state level—but a possible ally for advocates who’ve struggled to advance such changes.
The Indiana Law Enforcement Academy improvements are part of a string of capital projects prioritized by Holcomb in recent budget sessions at the Statehouse.
Sojos Capital principal Fabio de la Cruz—who introduced an ambitious $200 million project for the northwest-side property in November 2021—said the new master plan will require much more investment and involve multiple development partners.
In the past decade, the area has grown into one of the region’s hot spots, in part because a handful of developers is embracing the area’s industrial roots.
The tavern is part of the Proscenium mixed-use development by Carmel-based Birkla Investment Group and Dayton, Ohio-based Woolpert Inc., which opened in 2021.
Earlier this month, more than a dozen Haughville residents who live near the project held a press conference to express frustration with Buckingham Foundation’s decision to move forward with the project despite their misgivings.
