TWG Development LLC has agreed to pay $3 million to buy part of the AT&T property near the busy intersection of College Avenue and Kessler Boulevard to build a $39 million apartment project with an underground parking garage.
Keystone Realty Group is in line to receive financing help from the city for an ambitious plan that would overhaul two nearly vacant office properties near Monument Circle and bring a prestigious Intercontinental Hotel to Indianapolis.
An Indianapolis City-County Council panel on Monday night unanimously advanced proposals that would help Duke Realty Corp. move its headquarters from Carmel to a new $28 million office building it would build in Indianapolis.
The projects are coming up now because the city has six months left to take advantage of more than $30 million in a federal loan guarantee program that it was awarded in 2012 by the U.S. Housing and Urban Development Department.
The bonds would help finance development of a hotel complex on the site of Indianapolis' oldest African-American church, as well as a five-story apartment and retail project near the base of Massachusetts Avenue.
The Central Indiana Corporate Partnership wants the city to improve streets, walkways and other infrastructure around the 170-acre project north of the IUPUI campus, designed to attract high-tech businesses and workers.