Developer launches $19M apartment project in Carmel
Locally based J.C. Hart Co. has broken ground on a $19 million apartment community at the northeast corner of 116th Street and College Avenue in the Carmel Performing Arts District.
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Sales/acquisitions
-Neff Rentals bought the 88-unit Towne View apartments at 5 Crosby Road, Mooresville. The property was listed for $3.5 million. The sale price wasn’t disclosed. The buyer and seller, Boston Capital, were represented by Tikijian Associates. The buyer plans to gradually convert the affordable housing into market-rent apartments.
-ARL SC LLC bought Arlington Square, a 56,606-square-foot retail center at 1107 N. Arlington Ave. The price wasn’t disclosed. The buyer and seller, The State Bank and Trust, were represented by Tracey Holtzman of Midland Atlantic.
-Crown Liquors bought a seven-tenths-of-an-acre outlot at Southport Square 4015 E. Southport Road. The price wasn’t disclosed. The seller, Southport Road Development LLC, was represented by Scot Courtney and Bart Jackson of Lee & Associates. The buyer represented itself.
Local developer ready to start $18M project
Indianapolis-based Buckingham Cos. is expected to start construction this summer on an $18 million, 146-unit apartment building in downtown Columbus.
City mum on economics of $15M parking garage
City officials and the developer of a proposed parking garage in Broad Ripple have refused to share financial projections for the project, describing the documents as a “trade secret” exempt from public disclosure.
West-side apartment fire injures seven
An apartment fire on Indianapolis’ west side injured seven people Monday night. Residents reported the blaze at Port-O-Call Apartments, near Rockville Road and Interstate 465, about 10 p.m. Police arrived to find a large fire in a ground-floor bedroom. Fire officials said they extinguished the fire quickly because they are familiar with the complex. The blaze heavily damaged one apartment and caused smoke damage to a second. One person was taken to the hospital for minor smoke inhalation.
Rejected bidder cries foul over demolition of Keystone Towers
Titan Wrecking & Environmental bid about $255,000 less than the winning proposal to demolish Keystone Towers, but was rejected because of missing paperwork. The company owner says the city could have overlooked the omissions to save taxpayers money.
Sales/acquisitions
-Trinity Metals bought a 120,000-square-foot manufacturing facility at 6400 English Ave. The price wasn’t disclosed. The buyer was represented by Tadd Miller of Milhaus Realty. The seller, Covington Capital Corp., was represented by Mark Writt of CB Richard Ellis.
-Rapchak Holdings bought the 386-unit Harrison Point apartments at 42nd Street and Post Road. The price wasn’t disclosed. The buyer was represented by Tikijian Associations. The seller, Paladin Asset Preservation, was represented by ARA Midwest.
Local contractor wins Keystone Towers demolition bid
Denney Excavating of Indianapolis has been granted the contract to demolish the vacant Keystone Towers apartment complex with a bid $827,000.
Man holding toddler shot in Greenwood
Greenwood police say a man holding a toddler was hit by a stray bullet at the Cambridge Square Apartments near Madison Avenue and County Line Road just after 8 p.m. Sunday. Investigators say the victim, Charles Staten, 24, was trying to get into his apartment when the bullet hit him in the stomach. He was taken to the hospital in unknown condition. The child was uninjured. Witnesses say a man involved in a fight in a nearby parking lot fired several shots, including one that hit Staten. The suspect ran from the scene.
Chambers quietly built Buckingham into real estate colossus
The North of South mixed-use project in downtown Indianapolis is just the latest development for Brad Chambers, who started out in the landscaping business.
$100M ‘Bridges’ project in Carmel wins approval
A proposal for a roughly $100 million mix of retail, office and apartments along Springmill Road south of 116th Street was OK’d Monday night by the Carmel City Council after numerous concessions.
Developer puts Cosmopolitan complex on block
The Cosmopolitan on the Canal, a 218-unit upscale apartment complex in downtown Indianapolis that cost more than $33 million to build, has been put on the market by Flaherty & Collins Properties.
Architect’s role goes beyond blueprints
Architect Sungano Ziswa, a native of Zimbabwe, is Domain Architecture’s primary adviser on an apartment project that is the largest solo effort Domain has undertaken in its 15-year history.
City’s ambitious tech-corridor plan no sure thing
Indianapolis leaders are hoping a new plan launched by Mayor Greg Ballard’s administration to transform the area northwest of downtown into a high-tech job and life-sciences research magnet will turn the long-discussed idea into a reality.
Lender purchases Renaissance Bay in sheriff’s sale
Fort Wayne-based Star Financial Bank, which is trying to recover some of the more than $23 million it loaned for the condominium project, submitted the only bid for it on Wednesday. The bank said several potential buyers are interested in the property.
City kicking in $5M toward reuse plan for Bush Stadium
City officials are sharing new details of a plan to redevelop Bush Stadium into more than 250 apartment units, while preserving the stadium's façade.
Carmel senior-living project to create 340 jobs
Carmel Mayor Jim Brainard on Tuesday unveiled details of a multimillion-dollar project expected to create more than 200 construction jobs and 140 permanent positions over the next two years.
City to roll out plan for 16th Street tech corridor
The city of Indianapolis plans to announce a major initiative to turn a stretch of 16th Street northwest of downtown into a hub for biotechnology and other high-tech companies.
Police probe carjackings, shooting
Indianapolis police are looking for suspects involved a shooting and two carjackings overnight. At about 1:40 a.m. Thursday, a man was shot along Marabou Mills Way near 34th and Dandy Trail, and nearby a gold Mercury Grand Marquis was carjacked. The shooting victim’s condition is unknown. Police say three men, including one armed with a silver handgun, are responsible. Those suspects are also sought for another carjacking on the city's northeast side at 2:50 a.m. A woman said her car was taken in the Hill Crest Apartments near Shadeland Avenue and Fall Creek Road North. She was not injured.