Union Bank filed suit earlier this month against an affiliate of locally based HDG Mansur, which owns the 30-story building, claiming it failed to pay off the $60 million loan balance. The bank seeks a court-appointed receiver to manage the building.
The west-side industrial park, one of the city’s largest, is experiencing robust construction activity that includes more than just distribution centers.
A fourth straight month of solid hiring cut the U.S. unemployment rate in November to a five-year low of 7 percent, down from 7.3 percent in October.
Herb Simon serves on the advisory board of an investment fund that is raising $100 million to buy minor league baseball teams.
The battle on Saturday between Ohio State and Michigan State, plus ESPN broadcasts and special events downtown, are expected to have a $15 million economic impact on Indy. That’s a vast improvement over the 2012 championship.
Those of us living in the Indianapolis area certainly have a lot to be thankful for, including these reasons:
Westfield’s massive Grand Park Sports Campus doesn’t open until March, but city leaders already are focused on making sure the 1 million-plus visitors they expect next year want to come back.
Indianapolis International Airport has lost a third of its passenger flights since early 2005 while inflation-adjusted airfares here have risen 23 percent.
A new state law allows Indiana distillers to obtain a permit to produce and sell spirits by the glass, bottle or case. Previously, they could sell only to distributors, never to the public.
The Indy Chamber presents the awards that honor significant achievements in architecture and design. Buckingham Cos.’ CityWay also won in the Public Art category.
A high-profile local developer has bought the Illinois Building and is considering offers to convert the downtown landmark into a boutique hotel that could be the city’s first five-star lodge.
A couple told Indianapolis police that a man wearing a woman’s wig broke into their hotel room just after midnight Thursday and robbed them of $200. The incident took place at Intown Suites in the 2300 block of North Post Road. According to the report, the intruder used pepper spray on the man’s face before forcing his girlfriend to withdraw $200 from a nearby ATM.
Preparing to retire from the WISH-TV on Nov. 26, Debby Knox recounts the stories that made the biggest impact on her, and what would make her feel more optimistic about the future of TV news.
The Residence Inn by Marriott in Fishers was robbed about 10:20 p.m. Thursday by an armed man driving a black SUV. A front-desk clerk at the hotel near 96th Street and Interstate 69 said the gunman ordered her to lie on the floor while he took an undisclosed amount of cash.
Reeling from the recession, Bharat Patel hopes to protect the hotels from foreclosure. Their lender is owed as much as $120 million, according to court filings.
The Labor Department said Friday that the unemployment rate rose to 7.3 percent. A troubling detail in the report: the percentage of Americans working or looking for work fell to a 35-year low
The volume of travel in the United States exceeded the prior peak (2007) earlier this year and is likely headed for continued growth, although Indiana, with the exception of central Indiana, is not faring as positively.
New convention prospects are talking to the city’s marketing agency after passage of the city’s expanded smoking ordinance last year.
The economy added an average 143,000 jobs a month from July through September. That's down from an average of 182,000 in April through June, and 207,000 during the first three months of the year.
The upcoming Performance Racing Industry Show—in its first year back in Indianapolis since 2004—is beating expectations for exhibitors, attendees and, most important, visitor spending.
