More than half of the expected developments within the district the city has designated as a professional sports development area, or PSDA, have yet to break ground.
Work on Indiana University Health’s $4.3 billion downtown hospital campus, one of the most expensive construction projects in Indiana history, is set to be finished in late 2027.
Community Health Network’s announcement this month that it plans to open a $335 million campus near U.S. 31 and 196th Street in Westfield marks the latest entry into the crowded Hamilton County hospital market.
This summer, the Health and Hospital Corporation of Marion County will break ground on a multiyear, $170 million facilities improvement plan—the largest investment in the agency’s structures in decades—beginning with a new public health lab.
City and neighborhood leaders have expressed hopes that the opening of the campus would spur redevelopment in Twin Aire, but change hasn’t been fast to take root.
In the past five years, the nation’s largest Catholic health system has unloaded more than a dozen hospitals across the country, from New York to Alabama, as it restructures amid a growing tide of red ink.
The $101 million project at 17 W. Market St. will include 170 rooms and a rooftop bar with views of the Soldiers and Sailors Monument. The opening will come some five years after Keystone first proposed the hotel.
Hendricks Commercial Properties has spent more than $550 million to acquire and redevelop properties across Indianapolis and Carmel since 2013. But the Wisconsin-based firm says it’s just getting started with work it hopes to do here.
In a 35-minute speech at the Economic Club of Indiana, CEO Dennis Murphy made the case that IU Health treats some of the sickest patients in the state and needs the best hospital possible to continue doing that.
Former Indianapolis Colts Quarterback Peyton Manning on Thursday announced the Care for Tomorrow campaign has received nearly $24 million in donor funding since its launch a year ago.
Universities, hospitals, museums, theaters, dance companies and other not-for-profits in Indiana pulled in a total of $348.7 million from 79 gifts of $1 million or more from individuals, family foundations and bequests, according to IBJ’s latest survey.
The recent announcement by the city of Indianapolis and the equity owners of Circle Centre Mall that Hendricks Commercial Properties LLC, the developer of the successful Bottleworks District and Ironworks projects, will acquire and invest in the downtown mall is unequivocally good news.
While most projects, such as Indiana University Health’s new hospital, Old City Hall and Pan Am Plaza, are efforts that will take years to come to fruition, other developments will begin to see substantive movement in the new year.
The mall redevelopment is not the largest downtown project in terms of cost. But it will elevate a vast and critical piece of real estate as more than $9 billion in other downtown projects are slated to come to completion over the next decade.
The city on Wednesday and Thursday sold $581 million in bonds for the development through the Indianapolis Local Public Improvement Bond Bank, consisting of $436.8 million in tax-exempt revenue bonds for the hotel portion of the project, and another $155 million for the convention center expansion.
The all-in cost for the redevelopment of Pan Am Plaza is now expected to be $751.6 million. The bond sales to cover much of that cost—creating significant long-term debt for the city—are expected to take place this week.
Indiana University Health Foundation, the fundraising arm of IU Health’s adult hospitals, is launching the campaign with the ambitious goal of making Indiana one of the healthiest states in the country.
While incumbent Joe Hogsett says a broad use of incentives like tax-increment-financing bonds is often necessary to bridge funding gaps, Jefferson Shreve favors a moderated use of the city’s incentive toolbox.
