Library delays new Fort Ben, Glendale branches due to cost escalations
Indianapolis Public Library system said it is seeking a new financing plan after costs grew beyond the budget cap of $12 million for each project.
Construction
Articles
Infrastructure spending bill fails first vote; Senate to try again
The nearly $1 trillion measure calls for about $579 billion in new spending over five years on roads, broadband and other public works projects, to be followed by a much broader $3.5 trillion measure from Democrats next month.
Some big companies oppose potential tax hikes, but want to profit from infrastructure deal
At least a dozen profitable major U.S. companies paid little or no U.S. income tax in 2020 but are active in industry groups that object to helping fund with taxes the same public projects they want to profit from.
Indianapolis-area home builders see biggest June since 2005
So far this year, 5,710 single-family building permits have been filed in the area, up 46% over the first six months of 2020.
Renovated box factory anchors plans for 40-acre campus in neighborhood dubbed NOMA
Over the last two years, the Stenz Construction Corp., Third Street Ventures and Pure Development have undertaken a $25 million renovation of the former U.S. Corrugated Box Co. building.
A mighty wind pushes builder IEA into top gear
While businesses were laying off employees last year by the boatload because of the pandemic, an Indianapolis company that specializes in building wind and solar farms hired scores of people to tackle new projects nationwide.
State Fair lands $50M to turn swine barn into multiuse facility
The pigs at the Indiana State Fair are officially getting a new place to stay after the state released $50 million to replace the almost century-old swine barn with a multiuse facility that will also be able to host large sporting events.
Infrastructure spending promises boost for industry
Plans to pump money into rebuilding the nation’s roads, bridges and other infrastructure could give companies that make machinery and materials a solid foundation for growth.
Central Indiana existing-home sales, prices continue to escalate
On a year-to-date basis, closed sales are up 10.9% so far this year, to 13,666, compared with 12,320 in the first five months of 2020.
Outdoor-storage firms prepare to scout for land amid growth
The number of properties focused on or allowing outdoor storage is limited—and there’s little indication that that will change anytime soon.
Williams Comfort Air and Mr. Plumber acquired by Georgia company
The acquisition marks Marietta, Georgia-based Wrench Group’s first expansion into the Midwest and adds 400 employees to its operations.
Construction spending posts modest monthly gain
Through the first four months of this year, construction activity is 5.8% higher than the same period in 2020.
Illinois developer plans $20M industrial building in Indiana
The Homerlee Business Park will be built in East Chicago, less than a mile from Interstate 90 and near the Interstate 80/94 expressway.
GOP offers $928B proposal on infrastructure, funded with unused COVID aid
Republicans have rejected Biden’s proposed corporate tax increase to pay for new investments, and instead want to shift unspent COVID-19 relief dollars to help cover the costs.
Parent of Indianapolis-based Pac-Van acquired in billion-dollar deal
Stamford, Connecticut-based United Rentals Inc. paid $19 per share for Pasadena, California-based General Finance Corp.—which has owned Pac-Van since 2008—and assumed $400 million in debt.
Noblesville OKs new vehicle taxes to chip away at Pleasant Street extension costs
The Noblesville City Council approved vehicle excise and wheel taxes Tuesday to generate $1.8 million in annual revenue starting next year. The money is slated to pay for a portion of the city’s estimated $113 million Pleasant Street extension project.
Demand for new homes still growing despite rising construction costs
Builders in the nine-county Indianapolis area are seeing their busiest year since 2005 despite soaring lumber prices and snarled supply chains that have made it difficult to get products to complete new homes.
Growing Logansport construction firm opens Boone County office
Logansport-based Steinberger Construction Inc. is investing $1.39 million to open an office in Lebanon, where it hopes to hire as many as 17 workers by the end of 2023.
Hogsett administration plans to spend $25M to repair run-down residential streets across Indy
The city identified 605 residential lane miles across Indianapolis that are in particularly poor condition. The city is allocating enough money to fix only about 10% of those miles, starting as soon as next spring.
U.S. lumber importers are driving buying mania for European wood
The frenzy comes on the heels of record American forest-products imports from Europe in 2020, when North American demand soared and caught sawmills off guard with low inventories.