Downtown hot for apartments: Developers of new multifamily projects encouraged by high occupancy rates, rising rents, waiting lists
Justin Williams and Meredith Barrett grew up on the south side, but that’s not where they’ll live after getting married in September. They’re looking for an apartment downtown. It’s the only neighborhood they’re considering. “I love being right in the middle of everything,” said Williams, 25, a server at P.F. Chang’s China Bistro in Circle Centre. Barrett, a 22-year-old nurse at Wishard Hospital, said she “just likes to be able to walk everywhere.” The couple is part of a growing…
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<article id="post-11657" class="flex post-11657 article type-article status-publish hentry topic-government topic-real-estate authors-jennifer-whitson">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12725-canal-could-be-home-to-new-hotels-or-condos-requirement-for-retail-could-jump-start-slow-effort" rel="bookmark">Canal could be home to new hotels or condos: Requirement for retail could jump-start slow effort</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-04-16T04:00:00-04:00">April 16, 2007</time></span> </div>
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<p>State and city officials have begun evaluating four groups that want to develop an acre of prime real estate along the Central Canal downtown. The property, which covers about a third of the block stretching from Ohio Street to New York Street, will feature canal-level retail-a requirement of all potential developments there. It also could be home to a hotel or condominium complex, based on plans from two local developers. Two other groups also are in the running for the…</p>
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<article id="post-7206" class="flex post-7206 article type-article status-publish hentry authors-ibj-staff">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/8099-glicks-to-donate-30-million-to-iu-medical-school" rel="bookmark">Glicks to donate $30 million to IU medical school.</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-04-13T15:30:00-04:00">April 13, 2007</time></span> </div>
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<p>Apartment-builder Gene Glick and his wife Marilyn will give $30 million to found an eye institute at the Indiana University School of Medicine, the school announced this morning. Two-thirds of the money will pay for a new building to house the Eugene and Marilyn Glick Eye Institute. The remainder will fund research on eye diseases, […]</p>
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<article id="post-11572" class="flex post-11572 article type-article status-publish hentry tag-bids tag-duke-realty tag-duke-realty-corp tag-lauth tag-lauth-group tag-lauth-properties tag-lauth-property-group tag-mansur tag-mansur-real-estate-services tag-market-square-arena tag-mixed-use-project tag-msa-site tag-redevelopment tag-redevelopment-plan topic-duke-realty-corp topic-lauth-property-group topic-market-square-arena topic-mixed-use topic-proposals topic-real-estate topic-urban-development authors-cory-schouten">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12640-duke-lauth-mansur-join-msa-site-fray" rel="bookmark">Duke, Lauth, Mansur join MSA site fray</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-03-26T04:00:00-04:00">March 26, 2007</time></span> </div>
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<p>A who’s-who of local firms is planning bids to redevelop the Market Square Arena site with mixed-use projects that would depart<br />
sharply from previous efforts focused on residential. New plans are expected to include retail , offices, apartment units<br />
and condos backed by high-profile local developers that didn’t bid before.</p>
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<article id="post-7024" class="flex post-7024 article type-article status-publish hentry authors-ibj-staff">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/7917-like-38th-street-you-ll-love-meridian" rel="bookmark">Like 38th Street? You’ll love Meridian</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-03-20T14:22:00-04:00">March 20, 2007</time></span> </div>
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<p>A draft document of ideas for renovating North Meridian Street between Interstate 65 and Fall Creek calls for many of the design cues used to reconstruct a stretch of 38th Street that crosses Meridian farther north. Recommendations being prepared for Near North Development Corp., a community-based revitalization group, vary depending on the stretch of Meridian […]</p>
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<article id="post-11485" class="flex post-11485 article type-article status-publish hentry topic-distribution-logistics topic-government topic-transportation authors-cory-schouten">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12553-mixed-use-project-would-transform-lawrence-final-piece-of-fort-ben-development-includes-residential-retail-offices" rel="bookmark">Mixed-use project would transform Lawrence: Final piece of Fort Ben development includes residential, retail, offices</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-03-05T05:00:00-05:00">March 5, 2007</time></span> </div>
<div class="entry-summary">
<p>The final piece of a decade-long redevelopment of Fort Benjamin Harrison would give Lawrence a new downtown with shops, offices and public plazas mixed among as many as 1,000 condos, townhouses and apartments. The Fort Harrison Reuse Authority hasn’t settled on a name yet for the 88-acre project, but the quasi-governmental group’s board is expected to approve zoning updates this month that pave the way for the project. Public meetings will be held in March and April, and the first…</p>
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<article id="post-11478" class="flex post-11478 article type-article status-publish hentry tag-buckingham tag-buckingham-cos tag-downtown-real-estate tag-meridian-street tag-mse-realty-llc tag-stokely-building tag-stokely-van-camp topic-development-redevelopment topic-mixed-use topic-real-estate topic-urban-development authors-tammy-lieber">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12546-meridian-street-landmark-gets-new-life" rel="bookmark">Meridian Street landmark gets new life</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-02-26T05:00:00-05:00">February 26, 2007</time></span> </div>
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<p>Buckingham Cos., the Indianapolis-based owner/manager of more than 60 apartment complexes in five states, has broadened its<br />
development sphere to include three square blocks of downtown real estate.</p>
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<article id="post-11428" class="flex post-11428 article type-article status-publish hentry topic-education-workforce-development topic-environment topic-manufacturing authors-cory-schouten">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12496-goodwill-plotting-a-10-million-reuse-strategy-not-for-profit-renovates-hq-for-expanded-charter-school" rel="bookmark">Goodwill plotting a $10 million reuse strategy: Not-for-profit renovates HQ for expanded charter school</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-02-19T05:00:00-05:00">February 19, 2007</time></span> </div>
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<p>Goodwill Industries of Central Indiana supports its job and educational programs by reselling used clothes, household items and even cars. But the virtues of reuse and recycle aren’t confined to the not-for-profit’s 34 local thrift stores. Goodwill has adapted its headquarters several times since it was built in 1960, to fill a variety of needs. Some of the same space within the 195,000-square-foot building has served as a retail store, an office full of cubicles, an industrial packing facility and…</p>
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<article id="post-11441" class="flex post-11441 article type-article status-publish hentry topic-distribution-logistics topic-environment topic-real-estate topic-transportation authors-scott-olson">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12509-guidelines-target-design-of-downtown-development-new-rules-will-protect-urban-character-supporters-say" rel="bookmark">Guidelines target design of downtown development: New rules will protect urban character, supporters say</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-02-19T05:00:00-05:00">February 19, 2007</time></span> </div>
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<p>Downtown developments soon will come under extra scrutiny, once new design guidelines are approved in the spring. Known as Urban Design Indianapolis, the process of developing the criteria fell on the shoulders of several groups: the Department of Metropolitan Development, Historic Landmarks Foundation of Indiana, Ball State University’s architectural school and the Urban Design Oversight Committee. The intent is not to mandate to developers that their buildings meet certain design standards, but rather that the cosmetics coalesce with the existing…</p>
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<article id="post-6969" class="flex post-6969 article type-article status-publish hentry authors-ibj-staff">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/7862-kite-to-develop-notre-dame-property" rel="bookmark">Kite to develop Notre Dame property</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-02-05T14:11:00-05:00">February 5, 2007</time></span> </div>
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<p>Kite Realty Group Trust said today it will develop 26 acres owned by the University of Notre Dame. The mixed-use, 500,000-square-foot project south of the football stadium will include retail, hotel, office and condominiums, townhouses and apartments, the Indianapolis real estate investment trust said. The university is considering a technology park, single–family homes and more […]</p>
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<article id="post-6814" class="flex post-6814 article type-article status-publish hentry authors-ibj-staff">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/7707-amenities-stripped-from-johnson-county-development" rel="bookmark">Amenities stripped from Johnson County development</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2007-01-04T15:46:00-05:00">January 4, 2007</time></span> </div>
<div class="entry-summary">
<p>Neighbors of a proposed subdivision in northwestern Johnson County complained so fiercely that developer Paul Shoopman now plans to meet zoning requirements precisely—and take the project downscale. Shoopman’s Indiana Land Development Corp. is stripping parks and walking trails as well as businesses, apartments and town homes, according to the Daily Journal of Franklin. House density will […]</p>
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<article id="post-11162" class="flex post-11162 article type-article status-publish hentry tag-apartments tag-central-canal tag-developer tag-mixed-use-development tag-mixed-use-project tag-restaurants tag-retail topic-commercial-real-estate topic-mixed-use topic-real-estate topic-urban-development authors-jennifer-whitson">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12229-canal-site-picked-for-33m-project" rel="bookmark">Canal site picked for $33M project</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2006-12-04T05:00:00-05:00">December 4, 2006</time></span> </div>
<div class="entry-summary">
<p>A local developer plans to build a $33 million, four-story apartment and retail complex on the Central Canal just north of<br />
Michigan Street. Flaherty & Collins Properties has the three-acre parcel under contract from American United Life Insurance<br />
Co.</p>
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<article id="post-11177" class="flex post-11177 article type-article status-publish hentry authors-jennifer-whitson">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12244-mayor-msa-project-can-t-hinge-on-pre-sales-requirement-might-mean-city-has-to-ante-up" rel="bookmark">Mayor: MSA project can’t hinge on pre-sales: Requirement might mean city has to ante up</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2006-12-04T05:00:00-05:00">December 4, 2006</time></span> </div>
<div class="entry-summary">
<p>City leaders are sticking to their guns: They want a residential tower on the former Market Square Arena site downtown. And they want developers to start construction before they ask potential residents to buy. The idea is to eliminate the stumbling block that derailed previous redevelopment efforts, but observers say the requirement will make it difficult to line up financing-unless the city kicks in some money. Mayor Bart Peterson hasn’t ruled that out, but he remains resolute on one point:…</p>
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<article id="post-11118" class="flex post-11118 article type-article status-publish hentry authors-scott-olson">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12185-butler-mounts-unusual-campaign-students-not-buildings-major-emphasis-of-effort" rel="bookmark">Butler mounts unusual campaign: Students, not buildings, major emphasis of effort</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2006-11-20T05:00:00-05:00">November 20, 2006</time></span> </div>
<div class="entry-summary">
<p>Butler University President Bobby Fong’s collection of baseball memorabilia sparks almost as much enthusiasm from him as the capital campaign the college publicly unveiled last month. The major difference of course is that the autographed bats and balls displayed in his office are far less valuable than the $125 million the college wants to raise by 2010. More than half the amount already has been procured from alumni and past donors during a silent phase that launched in late 2003….</p>
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<article id="post-10968" class="flex post-10968 article type-article status-publish hentry topic-economic-development topic-education-workforce-development topic-media-marketing topic-sports-business topic-technology">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/12035-tom-harton-commentary-crime-takes-indirect-swipe-at-the-arts" rel="bookmark">TOM HARTON Commentary: Crime takes indirect swipe at the arts</a></h2>
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<span class="posted-on"><time class="entry-date published updated" datetime="2006-09-11T04:00:00-04:00">September 11, 2006</time></span> </div>
<div class="entry-summary">
<p>In Indianapolis, when the crime rate goes up or kids’ test scores go down, it’s not uncommon for people to point the finger at publicly funded sports facilities. “Our priorities are screwed up,” observers opine. “We spend too much money on these playgrounds for the rich, and not enough on cops, courts and public education.” The sports establishment here has been batting away this criticism for years. It goes with the territory in a city where sports is an important…</p>
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<article id="post-10913" class="flex post-10913 article type-article status-publish hentry tag-development tag-hearthview-residential-inc tag-market-square-arena tag-market-square-partners tag-msa-development-group-llc tag-shrewsberry-associates-llc tag-smoot-construction topic-development-redevelopment topic-market-square-arena topic-real-estate authors-jennifer-whitson">
<div class="article-meta">
<h2 class="entry-title"><a href="https://www.ibj.com/articles/11980-market-square-development-deadline-looming" rel="bookmark">Market Square development deadline looming</a></h2>
<div class="entry-meta">
<span class="posted-on"><time class="entry-date published updated" datetime="2006-08-28T04:00:00-04:00">August 28, 2006</time></span> </div>
<div class="entry-summary">
<p>Rival developers are dusting off plans for the former Market Square Arena site now that the partnership the city chose for the project appears on the verge of missing the Aug. 31 deadline to buy the land.</p>
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<article id="post-10907" class="flex post-10907 article type-article status-publish hentry tag-auction tag-city-block tag-colliers-turley-martin-tucker tag-office-buildings tag-sealed-bid-auction tag-vanausdall-farrar-inc tag-warehouse-buildings topic-mixed-use topic-real-estate topic-real-estate-deals topic-urban-development authors-jennifer-whitson">
<div class="article-meta">
<h2 class="entry-title"><a href="https://www.ibj.com/articles/11974-vanausdall-to-auction-off-city-block" rel="bookmark">VanAusdall to auction off city block</a></h2>
<div class="entry-meta">
<span class="posted-on"><time class="entry-date published updated" datetime="2006-08-21T04:00:00-04:00">August 21, 2006</time></span> </div>
<div class="entry-summary">
<p>Local office equipment distributor VanAusdall & Farrar Inc. is putting an entire city block on North Meridian Street up for auction, a move that could spur development in a corridor real estate experts say is ripe for activity. The three-acre property is between 12th and 13th streets.</p>
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<article id="post-10844" class="flex post-10844 article type-article status-publish hentry topic-government topic-technology authors-morton-marcus">
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<h2 class="entry-title"><a href="https://www.ibj.com/articles/11911-eye-on-the-pie-your-eye-dentity-is-the-key-to-our-future" rel="bookmark">EYE ON THE PIE: Your eye-dentity is the key to our future</a></h2>
<div class="entry-meta">
<span class="posted-on"><time class="entry-date published updated" datetime="2006-08-07T04:00:00-04:00">August 7, 2006</time></span> </div>
<div class="entry-summary">
<p>By my calculations, the U.S. population will reach 300 million on or about Oct. 15. There is no need to specify the hour and minute. The population clock at the U.S. Bureau of the Census indicates that we are adding to our numbers at a rate of nearly one person each 10 seconds. Even though our population growth rate has been declining, the absolute growth numbers, and their implications, remain staggering. For example, if we average two persons per housing…</p>
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