To be known as St. Lucas Lofts, the project proposed by Englewood Community Development Corp. would include at least 10 units designated for individuals who are recovering from homelessness.
Under a proposed deal, the Boston-based developer of the 11-story project would receive a portion of the increase in property tax revenue generated by the project in order to pay off the bonds.
Indianapolis-based BWI LLC is requesting a city property tax break for the 97-unit development that would save it $1 million over 10 years.
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 two local developers said they hope to start work on a 267-unit apartment project in Glendale Town Center’s parking lot by the end of this year.
The 254-unit Nora Pines would be renamed but remain affordable housing. TWG Development is asking the city to issue $17.6 million in bonds for the project, which the developer would be responsible for repaying.
Ambrose partners with Glick as part of $200M first phase at Waterside development
Indianapolis-based mall owner Kite Realty Group Trust this month filed a request with the Marion County Board of Zoning Appeals to change zoning for some of the parking lots just east of the shopping center.
The city of Indianapolis has called the 19-acre property southeast of the intersection of 42nd Street and Post Road a “threat to public health, safety and welfare.”
Tony Knoble and Justin Collins have taken top positions at the development firm after the retirement of longtime execs Joe Whitsett and Dennis Dye.
The project created 40 apartments, which are spread across two restored historic structures and new construction on the downtown square.
Indianapolis-based Spectra Student Living bought an existing complex on 10th Street for $23 million and is planning a second phase with units overlooking the White River.
Milhaus’ 175-unit project, dubbed The Grid, will also include a 180-space parking garage and an enclosed outdoor courtyard with kitchen and lounge areas.
Their Bloomington-based owner is marketing them less than three years after completion. They include The Delaware, a high-profile complex at 22nd and Delaware streets.
The council gave the green light Monday to RealAmerica LLC’s plan to build a 130-unit complex along the proposed Nickel Plate Trail that would include 65 apartments with rents based on income.
Emma Capital Investments Inc., which entered the Indianapolis market earlier this year, has acquired apartment complexes on the city’s north and northeast sides totaling 496 units.
The proposed development at 421 N. Pennsylvania St. has undergone extensive changes since this spring, including rising from seven to 11 stories.
The abandoned, 336-unit complex “presents considerable safety and security challenges” for its surrounding neighborhood, according to the city.
George Tikijian, who founded the company in 2005, said the deal was finalized Thursday following several months of internal deliberation.
