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Articles

Real estate listings: May 21, 2024

May 21, 2024 | IBJ Staff

The following construction projects and sale and lease deals were included in IBJ’s Real Estate Weekly newsletter on May 21, 2024.

Andretti Global makes key engineering hire in bid to earn spot in Formula One

May 21, 2024 | Associated Press

Mere hours after Formula One’s chief technical officer said he was leaving after seven years in the role, Andretti Cadillac said it had hired him as its executive engineering consultant.

Nickel Plate Trail landowners secure $7.6M in federal settlement

May 22, 2024 | Taylor Wooten

The settlement involves 168 property owners along more than 20 miles of the trail from just south of East 16th Street in Indianapolis to just west of the White River in Noblesville.

rop_nickelplate_bp450.jpg

City offers to buy Diamond Chain property from Keystone, says part of site has hundreds of remains

May 22, 2024 | Mickey Shuey

The city said just one acre of the 20-acre property—which was at one time part of the historic Greenlawn Cemetery—is believed to have as many as 650 remains, a finding that could have a major impact on future development.

Keystone says 87 burials discovered in excavation of proposed soccer stadium site

May 23, 2024 | Taylor Wooten

Keystone Group said it planned to use the historic Mount Jackson Cemetery about three miles away for “reinterment and memorialization” of the remains before moving forward with “transformational riverfront development.”

Basketball training facility set to open at former Marsh store in Fishers

May 23, 2024 | Daniel Bradley

H&H North will feature a full-length basketball court, two half-courts, a 6,500-square-foot fitness space operated by Fishers-based Indianapolis Fitness and Sports Training and workout recovery areas.

Carmel City Council to have control over park impact fees

May 23, 2024 | Daniel Bradley

Park impact fees will now be deposited into an impact fee fund designated by the Carmel City Council, and park impact fee credits provided as a bargaining chip to developers will need to be approved by council members.

Carmel City hall 2col

Township to revitalize abandoned cemetery, accept remains from Diamond Chain site

May 23, 2024 | Taylor Wooten

Keystone Group revealed late Wednesday that archaeologists have discovered 87 remains in the excavation of a six-acre portion of the former manufacturing site.

Lilly to invest another $5.3B in Lebanon site to meet overwhelming demand for Mounjaro, Zepbound

May 24, 2024 | John Russell

Lilly said the new investment will allow it to hire 200 more workers at the complex, including engineers, scientists, and lab technicians, for a total of 900 full-time workers when it is fully operational.

Lilly’s huge expansion plan took place at record speed to reduce bottlenecks for Mounjaro, Zepbound

May 24, 2024 | John Russell and Daniel Bradley

The company said the site footprint will not expand, but the company will fill in the property with more buildings and equipment. Manufacturing capacity will almost triple there.

City faces challenges, new considerations in effort for MLS

May 24, 2024 | Mickey Shuey

Although the possibility of a Major League Soccer stadium in Indianapolis is still up in the air, city officials are considering design possibilities for their preferred site, on the east side of downtown.

Marion County health care agencies plan east-side investments

May 24, 2024 | Taylor Wooten

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.

Peter Dunn: Your financial adviser is changing firms. What now?

May 24, 2024 | Peter Dunn

I think sometimes people forget that business relationships are still relationships.

Hogsett ‘serious’ about leaving proposed Indy Eleven stadium site undeveloped

May 24, 2024 | Taylor Wooten

Indianapolis Mayor Joe Hogsett’s administration could pursue a plan to turn the proposed Indy Eleven stadium property into a memorial park to honor its history as an early cemetery grounds rather than let it be developed, the mayor’s spokeswoman confirmed Friday.

Governor says he won’t get involved in spat between city, Keystone over MLS team and stadium deal

May 24, 2024 | Mickey Shuey

Eric Holcomb told IBJ while he is hopeful Indianapolis will secure a Major League Soccer club—an effort Joe Hogsett announced during a public address on April 25—it will have to do so without having him play facilitator.

Proposed taxing district for downtown MLS soccer stadium to run gauntlet of city votes

May 28, 2024 | Mickey Shuey and Taylor Wooten

The City-County Council’s Rules and Public Policy Committee on Tuesday will hear the Hogsett’s administration’s case for creating the professional sports development area, with scrutiny by the full council to follow on June 3.

Hogsett-backed stadium tax-district plan advanced by City-County Council committee

May 28, 2024 | Taylor Wooten

After a three-hour meeting in a room packed with supporters of the Indy Eleven, a City-County Council committee on Tuesday narrowly advanced a proposal for a taxing district on the east side of downtown to support a potential Major League Soccer stadium.

City-County Building

State agency denies permit to build warehouse complex on south-side wetlands

May 29, 2024 | Taylor Wooten

Indianapolis-based developers Gershman Partners and Citimark are seeking to develop a five-building warehouse complex on the property, but a permit denial affecting just a quarter-acre of the project could sideline the development.

Tindley Accelerated Schools’ former CEO charged with defrauding charter network

May 29, 2024 | Aleksandra Appleton, Chalkbeat Indiana and Amelia Pak-Harvey, Chalkbeat Indiana

Brian Metcalf, who served as CEO of Indianapolis-based Tindley Accelerated Schools from July 2019 to December 2022, was charged with nine counts of wire fraud.

Former Westfield library building to become school district event center

May 29, 2024 | Daniel Bradley

The Westfield City Council this week unanimously approved a plan to renovate and convert the 32,000-square-foot former library at 333 W. Hoover St. into the $15 million Westfield Washington Schools Event Center.

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