Stakeholders consider Lafayette Square redevelopment possibilities
The mall’s proposed sale is considered by industry experts to be welcome news for a lower-income neighborhood trying to make a comeback.
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UPDATE: Tech-staffing firm eyes Broad Ripple for new office-apartment HQ complex
Sources said Eight Eleven Group is hoping to build a five-story office building, an adjacent four-story apartment structure and an underground parking garage where 200 to 250 people will be employed.
Scotty’s Brewhouse founder Wise joins CBRE as retail broker
Scott Wise, who founded the once-flourishing Scotty’s Brewhouse restaurant chain, starts Tuesday at CBRE’s Indianapolis office, joining a team of 12 brokers in the office’s retail division.
Owner seeking buyer for Lafayette Square Mall
Lafayette Square Mall is up for sale. And whether the Indianapolis-area’s third largest shopping center remains a retail property or is redeveloped into something else will be determined by the buyer.
Developer plans 68-acre project with $32M space park, bowling alley, go-kart track
A Westfield developer’s plans for 68 acres next to Grand Park include a major planetarium and space science center, laser tag venue, jump park, bowling alley, indoor/outdoor go-kart track and driving school.
Penske’s IMS deal means hundreds of acres of opportunity, real estate experts say
The acquisition of Hulman & Co. will give Penske Corp. control of about 37% of all the land in Speedway, making the company the town’s single-largest landowner. Roger Penske said he wants to take advantage of that land.
Butler University sues Metro Diner over campus restaurant closure
Florida-based Metro Diner closed its Butler location in March. Butler says the lease is still in effect and it’s suing for unpaid rent. Metro has four other Indianapolis-area locations that remain open.
Bravo! restaurant closes, site up for sale
The demise of the Castleton restaurant follows the chain’s sale to a private equity group. Also this week: Kilroy’s, Becker Supply, Nurture, Purse Strings and more.
Local developer inks deal to buy 17-acre site from airport
The undeveloped site between Perry Road and Airtech Parkway is adjacent to the Shops at Perry Crossing and the Plainfield Commons shopping center.
Local industrial sector ‘healthier than it’s ever been,’ expert says
The red-hot Indianapolis industrial real estate sector is nearing all-time records in vacancy, construction and absorption, newly-released market reports obtained by IBJ show.
South-side revival: Inside the restoration of the 119-year-old Turnverein
Turning a former German social club and gym into the offices of a medical claims management organization and international travel insurance company was no small order—especially because the building had to remain more-or-less true to its original form to qualify for the federal Historic Tax Credit program.
Indianapolis theater to reopen as first-run movie house
Also this week: YUJO Ramen & Boba Tea, Taste of Dubai, Which Wich, Marco’s Pizza, Bovaconti Coffee, State of Grace
Residential real estate developer Onyx+East hires new chief executive
Kelli Lawrence had been a principal partner at Indianapolis-based multifamily development firm Cityscape Residential for the past six years.
Plans for downtown dual-brand hotel approved by IHPC
A 206-room, dual-branded hotel planned for a downtown parking lot won approval Wednesday night from the Indianapolis Historic Preservation Commission.
City still has grand vision for GM site, despite unraveling of $1.4B Ambrose project
Ambrose’s withdrawal from Waterside follows other changes at the firm, including the May defection of three senior executives to start Westfield-based Patch Development.
City threatens to take GM stamping plant land from Ambrose by eminent domain
The letter from the city’s corporate council to Ambrose says that to “avoid the delay and expense of a court process, we would welcome the opportunity to begin negotiation acquisition of the property immediately.”
Indianapolis Zoo secures 28 acres of land for expansion
The parcels, which are south of West Washington Street and east of South Harding Street, are expected to be turned into permanent parking lots and additional zoo exhibits in the coming years.
Plans for King Cole Building call for $21M redevelopment, Motto hotel
Indy Propco LLC, which has owned the 11-story building at 1 N. Meridian St. since January, wants to turn the property into a Motto by Hilton that would have at least 116 rooms, according to plans recently filed with the Indianapolis Historic Preservation Commission.
Ambrose is mum, but experts say it likely ran into financing problems for $1.4B Waterside
Real estate developers and experts suspect the firm couldn’t get access to enough capital to move forward with the massive, 103-acre development. Opinions are mixed on whether the site should remain intact or be split into multiple projects.
Jimmy John’s takes lead in King Cole exodus
The sandwich shop will move a few blocks away as a developer makes plans to convert the building into a hotel. Also this week: Native Bread, VetIQ and Paco’s Taqueria.