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Owner of Carmel’s Clay Terrace acknowledges possible bankruptcy filing

March 18, 2021 | Susan Orr

Washington Prime Group, a Simon Property Group spinoff that owns several other local shopping centers, barely missed defaulting on a $23.2 million interest payment this week before securing a forbearance agreement that ends on March 31.

Carmel physician’s lawsuit says St. Vincent fired him without cause

March 15, 2021 | John Russell

A Carmel physician who worked for St. Vincent Medical Group for a decade is suing the health system, claiming it fired him without cause last year.

Owner of Carmel’s Clay Terrace preparing bankruptcy filing, report says

March 7, 2021 | IBJ Staff

Washington Prime Group skipped a $23 million interest payment on its debt in February, and its negotiations with lenders reportedly are faltering.

Former Stutz owner plans redevelopment of three Carmel properties

March 5, 2021 | Kurt Christian

Turner Woodard, the former majority owner of the Stutz Business and Arts Center in downtown Indianapolis, has purchased the former Rich’s Home Furnishings showroom in Carmel to redevelop as the first in a series of three new projects in the northern suburb.

Carmel council OKs $60M in road bonds, continues questioning $65M for other projects

March 3, 2021 | Kurt Christian

Some councilors have concerns about what the bonds would be spent on—including public art—while others worry the city’s plans to acquire more properties would harm small businesses.

Carmel Council to consider establishing formal investigations process

March 1, 2021 | Kurt Christian

A council member’s investigation into the Hotel Carmichael’s cost overruns and a city employee’s complaint hit a roadblock, so she’s co-sponsoring two proposed ordinances intended to provide guidance related to the council’s investigatory powers.

The Proscenium in Carmel almost ready for its debut

February 26, 2021 | Kurt Christian

What once was a deteriorating Party Time Rental warehouse and an Arby’s has been transformed into a ritzy residential and commercial block.

NY hedge fund’s meltdown could cost clients of Carmel investment firm millions

February 19, 2021 | Greg Andrews

Indie Asset Partners customers are upset that the hedge fund, which was supposed to spread out funds to dozens of money managers, instead concentrated the money with a single manager whose performance tanked early last year.

Carmel-based Protective Insurance to be acquired by Progressive

February 16, 2021 | Susan Orr

Insurance giant Progressive is purchasing Protective in a stock deal worth $338 million. Protective, known as Baldwin & Lyons Insurance until 2018, is the Indianapolis-area’s 12th largest public company in terms of annual revenue.

Allegion hires new Carmel-based exec to lead Americas business

February 11, 2021 | Susan Orr

Luis Orbegoso, 50, joins Allegion from American Residential Services. He’ll be based in Allegion’s Carmel office and oversee the security-products company’s operations in the Americas.

Carmel-based CNO acquires employee benefits administrator for $50M

February 11, 2021 | Susan Orr

The benefits administrator, DirectPath LLC, offers a variety of technology-driven services for employees and employers.

Roberts Camera to close Carmel store, consolidate operations

February 9, 2021 | IBJ Staff

Owners of the 64-year old business—which was founded as a discount jewelry store in 1957 by Robert and Rose Pallman—cited several reasons for the decision.

Auto dealer financing firm in Carmel gets fast start

February 5, 2021 | Kurt Christian

A veteran of a specialty auto-industry sector called floor-plan financing has launched a lending company that promises independent car dealers funding wherever they buy vehicles.

Carmel Clay Historical Society plans $6.7 million museum expansion

February 1, 2021 | Kurt Christian

A proposed rezone of the property at 211 1st St. SW in Carmel’s Midtown will be introduced at Monday night’s Carmel City Council meeting.

Innovatemap acquires Carmel-based web development firm, opens New York office

January 29, 2021 | Anthony Schoettle

With six new hires, the company—founded in 2014—now has 26 employees. The staff size will increase to 28 when the company adds two Orr Fellows in June.

Fast-growing startup to add 225 jobs, expand Carmel headquarters

January 25, 2021 | IBJ Staff

Kinetic Advantage, which helps finance inventory for independent car dealers, launched last July, but has already grown to 65 employees and is operating in 26 markets.

Indianapolis-based residential developer plans Carmel HQ project

January 22, 2021 | Kurt Christian

Indianapolis-based SC Bodner Co. is planning to build and move its headquarters into a $6 million office development along U.S. 31 in Carmel, according to a proposal filed with the city.

Developer plans new retail center on Michigan Road in Carmel

January 20, 2021 | Kurt Christian

Preliminary site plans show an 11,000-square-foot, multi-tenant building with space for six new businesses on the southern portion of the property and a standalone 2,000-square-foot restaurant building to the north—each with their own drive-thrus.

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