Former site of downtown bar could become office, apartment project
A group of local investors is considering adding two floors to the former home of The Varsity Lounge, which dated back to the 1940s.
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UPDATE: Hogsett’s $1.2B budget has raises for police, firefighters, but drops preschool for 3-year-olds
The state will take over funding pre-kindergarten programs for 4-year-olds, but the mayor’s office opted not to include preschool funding for younger children after philanthropic support for the program fell.
Martinsville sock-maker FBF Originals ready to run
The Morgan County town’s best-kept entrepreneurial secret might not be a secret much longer, thanks to private equity ownership, an expanded management team, and ambitious plans to double revenue.
What Sardar Biglari needs to fix to save Steak n Shake
The hedge fund manager, who gained control of the Indianapolis-based chain a decade ago, is facing challenges on many fronts—from declining customer traffic to a looming loan maturity.
Bleak newspaper-industry outlook spurs buyout of Star parent
On Aug. 5, GateHouse—a New York-based chain backed by an investment firm—announced a deal to buy Gannett for $1.4 billion.
McLaren to return to full-time IndyCar racing in 2020
The England-based company plans to return to full-time IndyCar competition next season for the first time since 1979 in a partnership with existing team Arrow Schmidt Peterson Motorsports.
Wei Ramen restaurant preparing to open downtown
Upstairs from Wei Ramen, and under the same ownership, Indy Cyber Cafe plans to offer coffee, desserts and a pay-for-use business center.
Elanco in advanced talks to buy Bayer animal-health unit, report says
The multibillion-dollar deal would swell the size of Elanco, which already is the fourth-largest global player in animal health.
Kite Realty Group sells off 14 properties for $415 million
The divestitures are part of what the company calls Project Focus, a previously-announced project to sell off non-core assets and pay down debt.
Newspaper giants Gatehouse, Gannett likely to seek cost savings after merger
Efficiencies wrought by the merger might result in publications that rely less on local reporters and more on USA Today-type stories produced or edited remotely and published in dozens of the company’s publications.
Gen Con draws nearly 70,000 to Indianapolis, event officials say
The event, which has been hosted by the city since 2003, broke its records for exhibitors, total ticketed events, and for sales of four-day and Sunday badges.
Developers, investors race to capitalize on ‘opportunity zones’ tax break
The federal “opportunity zones” initiative, designed to spur investment in low-income communities nationwide, is still in its early stages—but it’s already grabbed the attention of local developers and investors. Created as part of the federal tax legislation known as the Tax Cuts and Jobs Act of 2017, the initiative offers substantial tax breaks to those […]
Jonathan Brooks’ Beholder restaurant has had a tough year
Business has been slow to build at Beholder, which isn’t yet consistently profitable and has had to cut staffing to the bone.
Lilly Endowment’s millions giving groups long-term footing
The Lilly Endowment awarded millions of dollars over the last three years to help several central Indiana human service agencies start endowments of their own.
Four years in, Blue Indy car-sharing service still stuck in the red
Blue Indy has yet to see a money-making year, and the company’s top Indianapolis official says he can’t predict when that will happen.
City to repurpose some public golf courses
Indy Parks is grappling with the future of its 13 courses based on declining revenue and interest, and millions of dollars in eventual facility upgrades.
Sun King to open Broad Ripple taproom at former Thr3e Wise Men site
Indianapolis-based Sun King acquired the business assets of the former Thr3e Wise Men location on Broad Ripple Avenue in an auction Thursday.
Former Indianapolis Mayor Greg Ballard says he’s not running for Congress
Ballard had been one of several Republicans suspected of being interested in running for Indiana’s 5th District, which is being vacated by Rep. Susan Brooks next year.
Target no longer eyeing Circle Centre for downtown store, sources say
With Target out of the picture, the ground floor of the former Carson’s space in Circle Centre will be marketed to multiple retail, restaurant and entertainment tenants, sources said.
Indians announce naming-rights partner for new club space
The 4,500-square-foot club, to be constructed between the 2019 and 2020 seasons as part of $8.3 million in Victory Field improvements, will be sponsored by Indianapolis-based Elements Financial Federal Credit Union.