Capital Improvement Board set to buy Pan Am Tower for $10.5M
The CIB is buying the property as a strategic acquisition tied to the ongoing redevelopment of Pan Am Plaza.
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City official lobbying Purdue to take portion of Monument Circle
Dan Parker, chief deputy mayor of Indianapolis, revealed at an IBJ event on Tuesday that he has pitched Purdue officials on locating some of its downtown operations in one of the two available buildings on the Circle.
Brunch spot, Indian restaurant planned at renovated Allisonville retail center
The new owner of Windermere Center at 62nd Street and Allisonville Road has switched strategies from developing new projects to buying existing retail properties, refreshing them and signing new tenants.
Carmel City Council questions need for apartments in Proscenium III project
Initial plans for the project include 151 apartments, a 125-room hotel, 63,000 square feet of office space, 15,000 square feet of retail space, 508 parking spaces and a public plaza.
USPS revving up operations in new, 1.2M-square-foot distribution hub on former Navistar site
The United States Postal Service could consolidate some of its Indianapolis facilities into a massive regional distribution hub opening later this year on the city’s east side, occupying land that formerly housed a Navistar plant for many decades.
IBJ Podcast: JW Marriott’s manager on surviving pandemic, saving March Madness and facing new competition
Phil Ray also weighs in on the new taxing district the city is considering for beautification and public safety efforts downtown, plus the city-funded construction of an 800-room hotel that would become the JW Marriott’s biggest competitor.
Developer tearing down six-story building by Glendale to build retail, office project
Demolition already has begun on the 56-year-old office structure, which was purchased out of foreclosure for $1.59 million. The developer envisions restaurant, retail and medical office tenants that will vibe with continued redevelopment along the Keystone corridor.
IBJ Podcast: Simons building hospitality ecosystem by fieldhouse with plans to add luxury hotel, concert venue
Here’s how plans for a $300 million complex with a luxury hotel and concert venue could vibe with Gainbridge Fieldhouse and Commission Row—not to mention the proposed soccer stadium a couple blocks to the east.
Simon family expands footprint near fieldhouse
For decades, Herb Simon’s downtown investment focused on owning Pacers Sports & Entertainment and managing Gainbridge Fieldhouse. But in recent years, Simon and his family have expanded their investments and holdings in downtown’s Warehouse District.
Demolition of downtown’s Jail I set to begin in October
A request for proposals from developers for the 2-acre site is expected to be issued in 2025.
Kite Realty gives new life to 65-year-old Nora Plaza
Five years after Indianapolis-based Kite bought the shopping center, the developer has invested in utilities, signage and infrastructure and is adding eye-catching tenants West Elm, Williams Sonoma and Bluemercury.
Pure Development co-owner sues partner, seeks liquidation of company
Indianapolis-based Pure Development has developed more than 35 real estate projects nationally and has a contract with the Indiana Economic Development Corp. to lead efforts on the LEAP Lebanon Innovation and Research District.
Keystone at the Crossing office park on the market as sector’s struggles continue
The 1.08 million-square-foot complex is expected to sell for significantly less than the $150 million it fetched in 2019, real estate sources told IBJ.
Future of Diamond Chain site unclear under city’s approach to remains, stadium
The Hogsett administration says no development can proceed on the property unless the owner agrees to treat human remains found there in a way that is consistent with the wishes of a community group.
Simon unveils plans for office building, new retail at Fashion Mall
Plans call for up to 100,000 square feet of Class A office space, as well as a new standalone building, a small plaza, and new restaurant and entertainment offerings.
Record-setting Signia hotel concrete pour sets stage for construction
More than 800 truckloads of concrete went into the foundation for the planned Signia by Hilton hotel and Indiana Convention Center addition at Pan Am Plaza over a 12-hour period.
New owner plans to carry on Metro’s LGBTQ legacy on Mass Ave
The owner of Mass Ave sushi restaurant FortyFive Degrees purchased the 7,200-square-foot Metro bar and restaurant in May.
State agency denies permit to build warehouse complex on south-side wetlands
Indianapolis-based developers Gershman Partners and Citimark are seeking to develop a five-building warehouse complex on the property, but a permit denial affecting just a quarter-acre of the project could sideline the development.
Proposed taxing district for downtown MLS soccer stadium to run gauntlet of city votes
The City-County Council’s Rules and Public Policy Committee on Tuesday will hear the Hogsett’s administration’s case for creating the professional sports development area, with scrutiny by the full council to follow on June 3.
City faces challenges, new considerations in effort for MLS
Although the possibility of a Major League Soccer stadium in Indianapolis is still up in the air, city officials are considering design possibilities for their preferred site, on the east side of downtown.