Truck dealer seeks tax breaks for $85M hub overhaul on south side
About 50 full-time jobs with an average pay of $29 per hour are expected to be created along with the expansion for Stoops Freightliner-Quality Trailer.
Commercial Real Estate
Articles
Property loans are so unappealing that banks want to dump them
This year’s rise in borrowing costs has made commercial real estate one of the hardest-hit areas of the economy. Property sales, especially for office buildings, have slowed to a trickle, giving landlords and lenders few markers to determine the value of certain assets.
Momentum builds to turn dormant far-east-side high school into services hub
The Indianapolis Department of Metropolitan Development has started soliciting ideas for what could be done with the site of the former John Marshall High School, which it purchased from Indianapolis Public Schools for $725,000 last month.
Developers revise plan for controversial $61M residential project north of Broad Ripple
The owners of Willows Event Center on Spirit Lake are reviving efforts to redevelop the site with apartments and townhouses, almost a year after withdrawing their proposal amid pushback from neighbors.
IPS plan to sell school buildings could create conflict with charters, lawmakers
The district plans to give preference to not-for-profits or government agencies before selling to other buyers.
White House rolls out measures aimed at increasing affordable housing
The White House also announced that it was forming an inter-agency task force to develop ways to fund efforts to convert more commercial buildings to residential housing, especially zero emissions and affordable units.
East-side community developer eyes $14.7M project near Wheeler facility
The residential project stemmed from a desire to meet the needs of families in a new way, according to Englewood Community Development Corp. Executive Director Joe Bowling.
State’s first Taco Bell Cantina planned in downtown Indianapolis
A franchise operator for Taco Bell Cantina, known for serving beer, wine, sangria, Baha Blast margaritas and Twisted Freezes spiked with rum, tequila or vodka, has signed a lease for a prominent downtown location.
Share of U.S. office buildings in distress surpasses hotel, retail properties
U.S. offices face higher stress than other real estate sectors because of weak demand as remote work gains widespread acceptance.
City acquires historic Drake apartments building in $1M deal with museum
The Department of Metropolitan Development plans to convert the eight-story, 95-year-old building on North Meridian Street into affordable housing units.
Developer planning 252 apartments on west side of Carmel
The project proposed by Carmel-based REI Real Estate Services calls for 11 two- and three-story apartment buildings along North Michigan Road.
Westfield Police Department planning new headquarters
The Westfield Police Department is basing the eventual size of the facility on the number of officers it expects to add and the city’s projected population by 2050.
Chilly Water Brewing plans Greenwood location
Chilly Water is targeting a late-August opening in a 1,200-square-foot space that adds a Johnson County location to two existing spots in Indianapolis..
Heath Outdoor owners plan brewery and distillery near Box Factory
Heath Outdoor is billing their new-look campus, which includes Digs Garden Center, as The Yard at North Mass.
Fountain Square restaurant, wine shop closing due to staffing issues
In 2021, the owners moved the business to the former Pioneer building at 1110 Shelby St., a much larger space that would allow the business to expand its food and drink menu.
Gershman, Citimark seeking tax break on $175M south-side industrial project
Built primarily on what is now agricultural land, the 1.9 million-square-foot project is expected to encompass 170 acres and consist of five buildings, ranging from 100,000 square feet to nearly 575,000 square feet.
Developer set to spend $51M on apartments, townhouses at Central State site
An Ohio-based firm plans to seek tax credits in its effort to develop dozens of apartments and townhouses on a seven-acre tract of land on the western edge of the Central State Hospital campus in Indianapolis.
New tenants bring new energy to historic Stutz complex
Known as the Stutz Business and Art Center from the 1990s until real estate developer Turner Woodard sold his majority stake in 2021, the complex is entering a new era by offering dining, shopping and personal fitness.
CNO Financial Group moving from longtime HQ in Carmel
The company formerly known as Conseco plans to relocate in Carmel after leaving the corporate campus it has called home for nearly 35 years.
Keystone holds groundbreaking ceremony for $1B Eleven Park development
The project is set to occupy the 20-acre Diamond Chain manufacturing site along Kentucky Avenue, just blocks from Lucas Oil Stadium, with some portions—including the stadium—set to be completed by summer 2025.