Simon says court should dismiss CEO pay case
Simon Property Group told a Delaware judge on Tuesday that an investor lawsuit over David Simon’s huge pay package should be thrown out now that the company has rewritten the compensation plan.
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Apartment owner jumps into office biz with south-side rehab
Ardizzone Enterprises Inc. in Beech Grove is preparing to open a two-building, 63-suite office complex on U.S. 31 south of Interstate 465. The company has invested $4.2 million in the project.
Simon plucks in-house execs for spinoff firm
Simon Property Group Inc. is reaching into its own stable of executives to stock the C-suite of its publicly traded spinoff for retail strip centers and smaller enclosed malls.
Broadbent in mortgage dispute involving retail center
The owner of Castleton Place, a shopping center in one of the city’s busiest retail areas, is the target of a $5 million foreclosure lawsuit by a lender that seeks to have the property placed in receivership.
Fresh idea: Specialty grocers finally eyeing south side
The south side is beginning to receive at least some attention from grocery players, including specialty ones that are much more prevalent to the north.
As lease expiration nears, Indians continue years of investment in Victory Field
For almost 18 years, the Indianapolis Indians have poured tens of millions of dollars into Victory Field while the city has spent hardly a dime.
City to consider $7.7M bond issue to assist Broad Ripple project
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
Old county jail up for auction in central Indiana
The tan brick building on the courthouse square in downtown Lebanon was the Boone County Jail from 1938 until 1992.
Council backs city financing plan for $81M tower
The Indianapolis City-County Council voted 18-9 Monday night to provide up to $23 million in city financing for the project, with the stipulation that 30 percent of the workers hired to build the 28-story building live in Marion County.
Home-remodeling firm giving new life to vacant Carmel center
The vacant, 14,500-square-foot property in the heart of the city has been purchased by a local home-remodeling company, which plans to occupy half the building and lease the rest.
Washington Square’s woes leave it at bottom of heap
The east-side mall's occupancy has fallen to 43.8 percent, down from was 86.6 percent in 2011 and 77.2 percent in 2012.
UPDATE: Mayor picks GM site for criminal justice complex
Mayor Greg Ballard will recommend that a proposed criminal justice complex be located on the former GM stamping plant on the western side of downtown—not the airport property that ranked highest in a market study.
Village of West Clay developer suspending operations
Brenwick Development Co. claims a switch in lenders has halted about $7 million in land sales in the mammoth mixed-use community in Carmel. The firm has filed suit against the banks.
Lawmakers getting closer on nursing home moratorium
House Public Health Chairman Ed Clere said Tuesday that negotiators had found a compromise that would ban new construction for two years except in counties whose nursing homes are at 90-percent capacity or higher.
Developer to break ground on Fort Ben project
The 36,000-square-foot building will house 27,000 square feet of office suites. The remainder will be retail, with the local Jockamo's Pizza chain slated to open a restaurant in the largest space.
Red Cross rethinking downtown HQ design, delaying land swap
Re-examination of the scope of the not-for-profit group’s project has stalled progress on a three-way property exchange that would clear the way for a massive apartment project on Massachusetts Avenue.
Craft brewery on tap for Speedway’s Main Street
Daredevil Brewing Co.’s plans call for a 10,000-square-foot building to be constructed on a two-acre lot that it purchased at the southeast corner of West Main and Gilman streets.
Brokers trying to reverse vacancy in downtown Indy offices
The vacancy rate for Class A space approached 20 percent in 2011 for the first time in at least 15 years and kept trending upward, settling at 21.4 percent at the end of last year.
Indiana Landmarks rescues endangered Jewish landmark
The preservation group paid $50,000 to rescue the near-north side temple on Ruckle Street, which was first occupied by the Beth-El congregation. After a roof replacement, officials hope to find a tenant for the historic building.
Committee urges hiring commitment for $81M MSA tower project
A City-County Council committee recommended approval for the 28-story building but only if the developer pledges that 30 percent of the workers it hires to build the tower live in Marion County.