An upscale apartment building in downtown Indianapolis is expected to be acquired at the end of this month by a local firm that is planning an expansion project that will almost triple the number of units in the property.
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According to the suit, Granite City failed to pay monthly rent and meet other obligations under terms of the lease for the 9,603-square-foot ground-floor space it occupied in Circle Centre until late last month.
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The Indianapolis Historic Preservation Commission voted Wednesday night to put a historic designation on the eight-story apartment building owned by The Children’s Museum of Indianapolis amid concerns the structure might be torn down in coming weeks.
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The city’s Metropolitan Development Commission on Wednesday gave Kite Realty Group the necessary approvals it needs to proceed with its plan build a 267-unit apartment complex adjacent to Glendale Town Center.
Read MoreThe east-side site was used by Colonial Baking Co. as warehouse storage, truck loading and truck repair from the mid-1950s through the 1990s. It is contaminated with heavy metals and petroleum compounds, and has remained unused for decades.
The city’s historic preservation commission plans to move forward Wednesday with an effort that could curtail a plan by The Children’s Museum of Indianapolis to demolish an aging eight-story apartment building it has owned since 2012.
Two local law enforcement officers with a development agreement for the Florida-based chain have narrowed their sights on locations for at least three restaurants on the north side.
The new concept will occupy the entire top floor of one of the Pyramids office buildings. Also this week: Black Acre, Taste of Havana, Chef JJ’s Backyard and Gauchos Brazilian Steakhouse.
Interior demolition appears to have already begun, and several tenants told IBJ that they have either already moved out or have been asked to vacate by the building’s owner.
Local entrepreneur Ray Vandivier envisions a 9,500-square-foot building that would incorporate the Liquor Cabinet at 949 Virginia Ave. and serve as living space for his family.
The council’s Metropolitan and Economic Development Committee voted 6-5 to send two proposals concerning Charles Street Investment Partners’ mixed-use project at 421 N. Pennsylvania St. to the full City-County Council.
Town leaders say development is coming, but has been slow because they’re picky about tenants.
The district next month plans to issue a request for proposals for a comprehensive study of all 71 of its schools and other buildings.
Historic preservationists and midtown neighborhood leaders don’t want to lose the Drake apartment building that its owner, The Children’s Museum of Indianapolis, plans to raze.
Oaktree Apartments, a blighted 19-acre property at the southeast corner of 42nd Street and Post Road with 336 apartment units, has been vacant since 2014.
The city sees redevelopment of a former middle school property as the linchpin in efforts to revitalize its downtown.
The lawsuit says the men reached an oral agreement in late May 2017 to split the anticipated $1 million development fee evenly, four ways.
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.
The 200,000-square-foot southeast-side project would be constructed for PepsiCo subsidiary P-America LLC, which has multiple facilities around Indianapolis.
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.
A plan to demolish the 91-year-old Drake apartment building and former divisional Salvation Army headquarters will require zoning approval, the city said Wednesday.
The Cook family is holding its cards close to its vest, saying only that it’s “excited to expand operations of (its) businesses to the downtown Indianapolis territory.”
The owners of the 18-acre former Angie’s List campus just east of downtown are relying on a promise of lower rent, connectivity with downtown, and the potential for future nearby development to draw tenants.
The Barrington, which began hemorrhaging money soon after opening in 2013, is being acquired by Indianapolis-based Prairie Landing Community Inc. for $61 million.