The local developer has modified its plan and wants to build an affordable senior housing project on the far-east-side church property instead of in the church itself.
The effort, launched in late 2014, aims to mix private-sector investments with federal tax money to spark residential and commercial activity in five targeted Indianapolis neighborhoods.
Downtown Indy is encountering resistance from some big property owners to its plan to create an economic improvement district that would raise about $3 million annually through a fee.
Four projects totaling about $85 million, including three already under construction, will bring apartments, offices and retail space to a key stretch of Green Street.
Some onlookers have noticed a difference between renderings for 360 Market Square and what’s being built atop the apartment tower. It turns out the developer has switched a prominent material.
The J.F. Wild Building on East Market Street, a vacant tower recently restored with a $7 million rehab, now has occupants for about half of the building.
The Mile Square is set to get another jolt of Seattle-based caffeine. Meanwhile, a sign on the door at Mo’s gives no indication as to when the steakhouse might reopen.
The $120 million building will become yet another signature structure in the new Market East district, a section of downtown that until recently featured a sea of parking lots and ramshackle buildings.
Although the largest units in 360 Market Square will top out at more than $2,000 a month, the rates compare favorably with other new downtown projects, according to one apartment expert.
The project could take shape on property directly adjacent to the City Market, in addition to $8 million in renovations planned to spiff up the Gold Building and a neighboring office complex.
If Marsh’s two downtown stores close, as the struggling grocer has warned could happen within two months, the locations likely would attract interest from rival supermarket operators.
The struggling supermarket chain warned the state Monday that that it is prepared to close the stores—including 11 in the Indianapolis area—within 60 days if it can't find buyer for the company.
Construction on the second phase of CityWay is expected to begin in early June, further transforming downtown by adding 400 more rentals to the already booming apartment market.
City officials are scrapping plans to help finance construction of a long-awaited 21c hotel proposed as part of a $55 million redevelopment of Old City Hall and are putting the property back up for bid.
Harrison College is asking $11.5 million for its two-building campus along East Washington Street, a steep jump from their assessed values but reflective of the area’s increasing potential for growth.
