Cornerstone plans $15M medical project in Carmel, makes $60M in acquisitions
Cornerstone Cos. Inc.’s latest local project is a three-story, 40,000-square-foot medical office building along North Meridian Street for four tenants.
Development/Redevelopment
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Developers push into Westfield along Carmel’s northern border
Over the past decade, developers have proposed nearly a dozen new subdivisions within a couple of miles of the 146th Street and Towne Road intersection.
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Carmel City Council OKs more than $27M for developer bonds, tax shortfall
The Carmel City Council approved bonds for four development projects and covered a property-tax shortfall at its Monday meeting.
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Union 525 investors plan 160-unit downtown apartment project, parking garage
The investor group behind Union 525 is proposing another expansion to the tech incubator’s downtown Indianapolis corporate campus, this time with plans to construct a nine-story apartment building and a 700-space parking garage on an nearby lot.
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Ambrose asks city to allow industrial uses on Waterside property
The development firm, which is in a legal dispute with the city over the property’s future, said the request followed “frequent requests for industrial space closer to downtown” by prospective buyers and tenants.
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Articles
Prologis planning $50M warehouse development in Zionsville
A largely agricultural area near the formerly contested border of Zionsville and Whitestown could soon be the site of two 550,000-square-foot warehouses.
Arbor Homes to purchase 135 acres in Westfield, develop 325 houses
Henke Development Group plans to sell Arbor Homes a part of its over 800-acre Chatham Hills development in Westfield so that it may be developed as a separate neighborhood called Monon Corner.
Westfield OKs $1.5M in bonds toward redevelopment of former concrete plant
The project, called Spring Mill Centre, aims to bring retail, industrial and office space—and possibly an assisted-living center for seniors—to the site.
Fast-casual Mediterranean chain coming to Indy
Up to five more locations could open in the next 16 months. Also this week: The Black Acre Loft, Dave & Buster’s, Gold Leaf Savory & Sweet
City identifies first ‘inclusive’ incentives economic development deal
The change to the way tax incentives are awarded is part of the city’s quest to achieve “inclusive economic growth” by growing opportunities for the city’s middle class and poor, and came as the result of years of research.
Indy Parks board OKs lease for Broad Ripple Park development
The Indianapolis Parks Department has preliminarily agreed to pay nearly $1 million per year to lease space in a new family center planned for Broad Ripple Park.
Iconic downtown Gold Building would turn gray under owners’ proposed revamp
Plans call for replacing the existing curtain wall on the 20-story office building with “crystal gray” panes developed by Minnesota-based architectural glass fabricator Viracon.
Developer attributes continued delays on Speedway hotel project to pandemic
Construction has been stalled on the planned 126-room hotel at the southeast corner of Main and 16th Streets since July 2019, while Indianapolis-based development firm Loftus Robinson LLC has tried to shore up financing.
EdgeRock Development proposing $18M apartment, retail complex in Westfield
There’s still some debate about whether the roughly 100-unit apartment complex with 30,000 square feet fulfills an expectation that senior apartments would be built on the property.
Dunn Hospitality planning 145-room hotel in $60M development in Fishers
Evansville-based Dunn Hospitality Group is planning to build a $20 million Courtyard by Marriott near Interstate 69 and 116th Street in Fishers by the end of 2021.
Apartments, homes, hotel in works at Fort Harrison site
Three housing and hotel projects are in the works at the former Fort Benjamin Harrison site in Lawrence, and planners hope these projects will accelerate efforts to redevelop part of the former U.S. Army base.
Redevelopment report has grand vision for car-centric Castleton
The city of Indianapolis could spend nearly $93.5 million over several years on Castleton’s infrastructure, as part of a broad vision to remake the corridor with better connectivity and walkability.
Owner of prime downtown parking lot considering hotel development
A Peachtree official said the company bought the land for the development opportunity and is now “evaluating our options to potentially build on the lot.”
Three downtown hotel projects delayed amid development glut
A trio of hotels in downtown’s construction pipeline have stalled in recent months, raising questions about whether they will ultimately move forward.
First 16 Tech office building set to open in June; Innovation Hub to follow
The long-planned $500 million project is at a pivotal moment—one its organizers say could serve as a catalyst for tremendous growth at the 50-acre campus and for central Indiana overall.
IndyCar racing team, engineering firm eye Zionsville for new HQs, 600 jobs
Preliminary plans by an IndyCar racing team and a vehicle engineering company could lead to the first development in Zionsville’s Creekside Corporate Park in years.
Clay Terrace owner planning to add hotel, apartments, office space to property
Washington Prime Group Inc. has filed a request with the city of Carmel to rezone the 577,614-square-foot shopping center at West 146th Street and U.S. 31 to allow for a variety of new uses.
Carmel City Council directs panel to review Hotel Carmichael cost overruns
The Carmel City Council on Monday voted to have its four-person finance committee look into what led to $18.5 million in cost overruns on the Hotel Carmichael project. It rejected a proposal have the entire council involved in the review.
Tiny Hancock Health embarks on ambitious, long-term growth plan
Over the past two years, Hancock Health has bought 140 acres of empty farmland at the Mount Comfort exit of Interstate 70 for a development it has named Hancock Gateway Park.