Real Estate Weekly: Oct. 8, 2024
| Mickey Shuey and Mason King
The following information was published in IBJ’s Real Estate Weekly e-newsletter on Oct. 8, 2024.
The following information was published in IBJ’s Real Estate Weekly e-newsletter on Oct. 8, 2024.
How has Old Town Design Group consistently grown in spite of real estate market disruptions? And what is its plan for the future? Co-founder Justin Moffett addressed those and other questions.
3rd Shot Pickleball received approval this week from the Carmel Plan Commission’s Residential and Commercial Committee to retrofit a building with 15 courts.
Plans for the 180-apartment project also call for an entertainment commercial tenant for 18,000 square feet on the second floor and a white box retail space on the west side of the first floor.
Niku Sushi.Kitchen.Bar will join two other restaurant tenants—Piedra, a Mexican restaurant, and Kitchen Social, a popular Columbus, Ohio-based restaurant—at The Union at Fishers District.
Listing the property for sale is a marked change from a years-long strategy of only looking for tenants to lease the sprawling, 213,600-square-foot office building.
Realync, whose platform allows apartment managers to offer virtual property tours, has been acquired by Texas-based Grace Hill Inc.
No fewer than three facilities focused on entertainment and tourism are expected to open in downtown Indianapolis by the end of 2027 while two others, in Noblesville and Fishers, are scheduled to debut by next summer.
The cities are set to ask state lawmakers to change the rules that govern how and when cities can benefit from taxes generated by sports-related projects.
The South Bend-based developer plans to convert the 12-story Angi Inc. headquarters on East Washington Street in downtown Indianapolis into a 180-unit apartment building.
The Indianapolis City-County Council plans to vote in the coming weeks to add two women to the board that will oversee the management of a new tax focused on improving downtown’s cleanliness, public safety and homelessness situation.
The ruling is significant because, for some time, public officials across the United States have said they have few choices in dealing with people who set up homeless camps, sleep in parks or set up tents in public places. The court has now made it clear that local governments can directly address that problem with tickets, arrests and relocations.
Morse Village would have 250 high-end single-family houses, 150 town houses, 250 multifamily residences and 30,000 square feet of commercial space and restaurants.
The developer behind the planned revamp of Lafayette Square Mall expects to break ground on the project’s first apartment building early next year and open a 14-screen movie theater as early as next month.
Plans call for Ambrose on Main to feature 87 apartments, 6,000 square feet of plaza and courtyard areas, a 2,000-square-foot rooftop patio, 12,000 square feet of commercial space and a restaurant with outdoor seating.
Plans for the project call for 120 apartments, a 125-room high-end hotel, 63,000 square feet of office space, 15,000 square feet of retail space, 508 parking spaces and a public plaza.
In total, the $113 million, three-phase Reimagine Pleasant Street project involves extending, realigning and expanding Pleasant Street into a 2-1/2-mile corridor from State Road 32 to just west of State Road 37.
The following items appeared in the Sept. 10, 2024, edition of IBJ’s Real Estate Weekly e-newsletter.
Kleinhenz said while the goal remains to have a hotel at the site, the town is open to alternatives, including a mixed-use development with retail and apartments or a corporate headquarters. And he said the lack of progress on the site hasn’t exactly deterred activity elsewhere in town.
The $312 million project from Boxcar Development LLC, a holding company for the Herb Simon family, was unanimously approved by the Indianapolis Historic Preservation Commission after about a half-hour of presentation and discussion.