Search Results

Lafayette Square Mall on the city’s northwest side has all the marks of a decaying urban mall: Most major national retailers have fled, a church occupies a former department store space, and the surrounding neighborhood has fallen out of favor among shoppers and businesses. But is the mall destined for a date with a bulldozer, as has happened with old malls in other cities? Not everyone thinks so. Lafayette Square still has good access from Interstate 65, apparently committed ownership…

For the ideal construction project, building owners and architects carefully develop a budget and a set of plans, then hire contractors to follow the plans to the letter, the budget to the dollar, and the schedule to the day. But when the building is old-old enough to have been through several owners and multiple uses-throw the ideal out the window, owners and contractors say. Yes, the budget constraints are still there. And the result-new housing, hotel or offices-is the same,…

Building bargain housing downtown isn’t easy. Ask Doug Jones, a principal in JLM Development, which is wrapping up its first downtown condominium project, a 26-unit community called Penn Square. Because they were working with multiple landowners, some out of state, it took Jones and his partners more than a year to acquire the single acre they needed for Penn Square, on the northwest corner of 22nd and Delaware streets. But once the developers cleared that hurdle, Penn Square went from…

A joint venture between a local hotel operator and the owner of three downtown apartment buildings is bringing an extended-stay hotel to the west side of White River near IUPUI. Bloomington-based Pinnacle Asset Management and Indianapolis-based Dora Brothers Hospitality Corp. purchased Riverpointe Apartments in June. The partnership plans to convert the north tower of the two-building complex into a 143-room Candlewood Suites, said Dora President Timothy Dora. The south tower will remain apartments, but will be extensively renovated, said Pinnacle…