Following a multimillion-dollar renovation, a far-east-side building that was on track for demolition is set to emerge as a retail-startup hub that supporters say could revitalize a neglected part of town.
A small group of retirees paid a combined $6.2 million last year for stakes in a proposed event center in Carmel that never was built. The investors claim they were duped in a vast fraud involving financial advisers, a property broker and a bankrupt company called Noah Corp.
The Fishers City Council on Monday night approved a development agreement between the city and Indianapolis-based Scannell Properties, which has 14 residential parcels under contract south of the Nickel Plate District.
TWG Development could save $1.4 million on the 188-unit Wesmont, named after jazz guitar legend Wes Montgomery. It's part of the company's larger redevelopment project south of East 16th Street and east of the Monon Trail.
The school said the three-phase project will include construction and renovation of 96,000 square feet of buildings to create a science complex featuring "high-tech classrooms, modern research labs, and collaborative working spaces."
Onyx+East's $5.5M Millside development, which calls for 23 townhouses on the 1500 block of Yandes Street, will sit between the Monon Trail and a major residential and office project on a former Indianapolis Public Schools property.
While the city and Kite Realty Group discuss a slower development timetable for the massive hospitality project, White Lodging said it is holding off on plans for another downtown hotel “until we figure out what’s going on at Pan Am Plaza.”