Green developer has $20M pipeline
Is green development finally catching on in Indianapolis? The four owners of Casa Verde LLC certainly hope so. The company has plans for a $14-million, LEED-certified condo project in Columbus. In Indianapolis,…
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New developments coming soon
Seen one of these signs? There are plenty around town. Here are a few notable projects slated for Metropolitan Development Commission hearings: Locally based Herman & Kittle Properties Inc. is proposing…
A smorgasbord of topics
Workers are installing Flagstar Bank signs on the One North Penn building this week, including a sign atop the 13-story building. What do you think of the sign and…
Green group touts its mission in HQ project:
The Fountain Square property that Keep Indianapolis Beautiful Inc. has purchased to house its headquarters is undergoing a massive renovation that will transform it from abandoned derelict to an environmental showpiece. In the process, the not-for-profit environmental group is hoping to set a green example for other developments and draw attention to its mission. KIB bought the building at the corner of Fletcher and Shelby streets for $410,000 in October from the Southeast Development Neighborhood Corp. A $1.3 million redevelopment…
What’s old is new again
On this nasty Friday, I’ve got a few updates on previous posts. Hope everyone has a nice weekend. Here goes:
What was Flagstar thinking?
Flagstar Bank has added yet…Indy to host Urban Forum: Group that helps revitalize properties to showcase city’s projects
Visitors in Indianapolis for the Urban Forum in April might patronize Jockamo Upper Crust Pizza in Irvington not only to sample the food but also the success of a neighborhood business district revitalization program. The pizzeria benefited from an effort called Fostering Commercial Urban Strategies, or FOCUS, through a $16,000 facade grant from the Indianapolis chapter of the Local Initiatives Support Corp. Indianapolis is one of 30 cities boasting LISC chapters. Nationally, they invested more than $1 billion in low-income…
Office tower bounces back: Renovated National City Center recovering from loss of Simon
Once reeling from the loss of its largest tenant, National City Center now has a rising occupancy rate amid a major renovation that is resuscitating the aging office building. Indianapolis-based Simon Property Group Inc. vacated 182,000 square feet in National City Center by moving to its new headquarters a block away in the fall of 2006. The departure left the 16-story tower at the southwest corner of Washington and Illinois streets 28-percent unoccupied after years of being nearly full. Owner…
VOICES FROM THE INDUSTRY: Green solutions can mean savings for building owners
Is going green incompatible with the bottom line? Not necessarily. In fact, since the signing of the Energy Policy Act of 2005, your business can accelerate significant tax deductions by going green. The Energy Policy Act of 2005 established a tax deduction for commercial build ings that reduce annual energy and power consumption. The deduction is available to a taxpayer for part or all of the cost of energy-efficient property that is installed in new or existing commercial buildings. The…
Real-world experience-for real: IUPUI’s Global Design Studio lets students tackle projects around the planet
New Orleans and Indonesia are worlds apart, yet linked by devastation from catastrophic floodwaters and by the outpouring of empathy that has ensued. An effort launched four years ago on the campus of IUPUI to involve design students in actual construction projects is responsible for a portion of the good will. The Global Design Studio is helping to rebuild areas ravaged by Hurricane Katrina and, to a lesser extent, the tsunami. Its projects also include renovating a boarding house in…
J.F. Wild building getting makeover
A local firm has begun renovations on an historic 12-story former bank building at 129 E. Market St. Crown Property Group bought the J.F. Wild & Co. building from…
IRT plans $3M renovation
The Indiana Repertory Theatre has won a $3-million grant from the Lilly Endowment to fund renovations of the Indiana Theatre building at 140 W. Washington St. IRT plans to…
Mackey Arena to cost $17M more
Purdue University trustees this morning approved a capital improvement budget that includes spending $17 million more on renovating and expanding Mackey Arena than the $82 million anticipated last year. The scope of the project is the same; the additional cost was forced by escalating prices for materials and other construction costs, as well as by […]
Building opportunities: CREW Careers offers girls a glimpse into the diverse world of commercial real estate
While one college basketball team just completed its journey to a national championship, CREW Network’s women hope they’re on a similar winning path-a path to scoring parity in the male-dominated field of commercial real estate. The Commercial Real Estate Women Network is a national member organization dedicated to the advancement of women in commercial real estate. It has 66 chapters, including one in Indianapolis. In 2005, CREW Network completed the industry’s first comprehensive study of the status of women in…
One Indiana Square owner sues insurer over storm-damage repairs
The owners of a downtown skyscraper badly damaged in a 2006 storm are suing their insurance company after it halted payments
on a facade-replacement project. The suit, filed April 1, accuses the insurance company of a “bad faith” attempt to avoid
paying for repairs to the 36-story One Indiana Square building at the northeast corner of Pennsylvania and Ohio streets.St. Francis thinking green in $42 million renovation: Mooresville hospital features ‘healing’ rooftop gardens
Guests attending the April 19 open house at the newly remodeled St. Francis Hospital-Mooresville will get a sneak peak at the facility’s $42 million makeover. The project increases the size of the campus from 258,000 square feet to almost 400,000 and adds everything from a new, eight-bed intensive care unit to two additional adult inpatient nursing units. But perhaps the most innovative touch-at least from an aesthetic point of view-can be found on the roof. Like a handful of other…
Startup buys West Lafayette research building
A West Lafayette research building used until a couple of years ago by Elkhart-based CTS Corp. has been acquired by a startup real estate company. The company, Indiana Technology Group LLC, is headquartered in West Lafayette. It is owned by five individuals, including principal and spokesman Ahmed Alsoffi, a long-time West Lafayette businessman. Other owners […]
TIPPECANOE COUNTY
TIPPECANOE COUNTY Purdue trustees approve capital spending, operating budgets Purdue University’s trustees on April 11 approved a $1.04 billion capital improvement plan for the next 10 years and a $1.03 billion conceptual operating budget for the next academic year. The capital plan includes nearly $100 million in renovations and additions to Mackey Arena, and $80 […]
Renovated Central Library spawns neighborhood revival
A local developer plans to spend up to $45 million building a “north village of downtown” on several parcels it has assembled
near the Central Library. Buckingham Cos. plans to build apartments, offices, restaurants and retail space-all surrounding
its headquarters in the three-story Stokely-Van Camp building at the southeast corner of Meridian and St. Joseph streets.VOICES FROM THE INDUSTRY: Intermodal is key to Indiana’s future crossroads identity
Earlier this year, the Wall Street Journal ran a front-page story about rail’s resurgence as a means for moving goods across the country. The story described the federal dollars being spent to fuel this railroad recovery, as well as the private sector investments being made and the economic benefits waiting for cities that get involved. The story included a map with thick, colored lines representing the key rail systems connecting the Midwest to the coasts. It took only a quick…
NY notes: Jazz at Birdland
The last time I was in New York City was about a year and a half ago. I was doing a story on things to do when you are in town on business and you find yourself with a few…