Plans call for apartment conversion of 10-story American Building
The Whitsett Group and Ambrose Property Group expect to spend $7 million to $10 million to retrofit the building at 333 N. Pennsylvania St. to accommodate 72 apartments.
Commercial Real Estate
Articles
Mike’s Carwash ownership trial gets under way
The private company and principals Bill and Mike Dahm are defendants in the lawsuit brought by Jerry Dahm, a cousin who once owned 35 percent of the company and claims he was forced to sell his shares at a discounted rate.
Mass Ave restaurant plans clear first hurdle
The city’s Historic Preservation Commission has approved rezoning and variance requests for two buildings sought by the owners of Broad Ripple’s Brugge Brasserie just south of the intersection of Massachusetts and Park avenues.
Developer breaks ground on Bush Stadium project
The project by developer John Watson’s Core Redevelopment calls for preserving the stadium’s historic façade and shell as part of the 131-unit Stadium Lofts apartments, along with an adjacent 132-unit apartment community called Stadium Flats.
LISC sues to foreclose on Emrich’s Furniture building
LISC, a not-for-profit lender, says it has not received any payments on its $515,265 construction loan since Jan. 1, 2011, and is owed more than $228,000.
Simon Property Group goes on $3.5B mall spending spree
The Indianapolis mall owner is expanding its global profile, agreeing to buy a controlling stake in a French firm with a 271-property European portfolio. Simon also is buying out a partner in its Mills portfolio closer to home.
Indianapolis bond bank chief Kintner is clutch hitter
Deron Kintner has stepped up to fund a string of high-profile real estate projects at a time when private-sector financing is scarce.
Developer Broadbent loses fight to keep finances under wraps
A newly public filing shows the co-founder of The Broadbent Co.’s net worth has fallen 60 percent, to $48 million.
Fixes to historic preservation tax credits may have to wait
Fixes to the state's historic preservation tax credit program pushed by Indiana Landmarks may have to wait another year after the Indiana Senate put the brakes on a bill that garnered unanimous support from the Indiana House.
State economy finally gaining traction
Leading indicators for Indiana’s economy are looking up: Banks are increasing lending, real estate developers are pulling the trigger on long-shelved projects, manufacturers are expanding, and consumers are even buying big-ticket items, including automobiles.
Castleton Square Mall lands Borders replacement
Forever 21, a privately held California-based chain, has begun converting the roughly 25,000-square-foot former bookstore at the south entrance to the mall and is targeting a summer opening.
Speedway’s plan for roundabout hits snag over billboard
The Speedway Redevelopment Commission is threatening eminent domain against Clear Channel Outdoor Inc. because the billboard company won’t relinquish its lease rights at a key intersection.
INSIDE DISH: Gastropub owners get aggressive after big first year
The Local Eatery and Pub in Westfield streaked past break-even point in its first 12 months, leading its relieved but exhausted owners to plan new projects.
Downtown Comfort Suites seeks bankruptcy protection
The hotel, owned by an affiliate of Dora Brothers Hospitality Corp., says its largest creditor is New York-based German American Capital Corp., which is owed $12 million.
Pan Am Plaza redevelopment brewing
The two entities that control the future of Pan Am Plaza have come to an agreement that could lead to the redevelopment of one of the most valuable parcels downtown.
Technology helps Ivy Tech marry new, old construction
3-D scans match former hospital with building plans.
CityWay designed to integrate retail, housing, hotel, YMCA
Architects were told to push the envelope and integrate. Be mindful of where you are in the city and integrate well.
Industrial spec development making a comeback
Speculative development is returning to the modern bulk industrial market after a four-year drought, with at least two projects preparing to break ground this spring and another in the works.
Developer plans $15.7M senior-living center on east side
The city of Indianapolis approved the project after accepting Mainstreet Property Group’s offer to purchase the property at 16th Street and Arlington Avenue for $912,500.
Historic church for sale in Old Northside neighborhood
The 34,000-square-foot neoclassical building includes a 1,200-seat auditorium renovated in 1995. The limestone structure has been used as a place of worship since it was built in 1912.