Apartments rev up residential revival downtown
An apartment building spree downtown is getting fresh fuel with an $85 million mixed-use development that will be anchored by a Marsh grocery.
Development/Redevelopment
Articles
Marsh to anchor massive new downtown development
A local developer plans to build a Marsh grocery store and hundreds of apartments in an $85 million project that would replace a block and a half of surface parking lots in the northwest quadrant of downtown.
Brugge owners eye downtown buildings for brewery, eatery
Owners of Broad Ripple’s Brugge Brasserie want to bring a new restaurant concept to the Massachusetts Avenue district downtown, where they also plan to relocate the craft brewery that supplies beer to Brugge.
Local developer rescues 1913 apartment building from wrecking ball
A local developer and historic preservation group have teamed up to save a 1913 apartment building near the Children’s Museum from demolition.
Near-east-side Super Bowl efforts go beyond the big game
For a Super Bowl-related initiative to revitalize Indianapolis’ near-east side, the hardest work will come after the Feb. 5 game.
Progress slow on variety of metro area deals
Many projects we reported on here over the past year are still in progress, confirming that the real estate market is still sluggish.
Real estate meltdown leaves developers reeling
It was another rough year for the real estate sector in 2011, as the homebuilder Estridge filed for bankruptcy, strip-center specialist Broadbent struggled to hold onto its headquarters, and Centre Properties faced a $43 million foreclosure suit.
City backs string of high-profile real estate projects
The administration of Mayor Greg Ballard found its stride in the final year of its first four-year term, at least when it comes to major publicly supported real estate projects.
Neighborhood eyesore headed for demolition
The city is soliciting bids from companies to tear down four buildings on the 16-acre Avanti Development Corp. property, which is tucked in a residential area a few miles west of downtown Indianapolis.
Transit plan may boost real estate investment
A proposed $1.3 billion transit system might bring redevelopment to urban neighborhoods. Yet transit proponents have surprisingly little to say about how much the system could generate in new real estate investment.
Fisher’s IndyCar team building headquarters in Speedway
Sarah Fisher Hartman Racing plans to build a $2.7 million facility on Speedway’s new Main Street to house her race team. Construction on the 37,000-square-foot shop could start in February and be finished in September.
Proposed Broad Ripple parking garage gets zoning OK
The controversial project is a $15 million, three-story garage that the city of Indianapolis will subsidize with $6.3 million in parking meter revenue. The project also features a retail component, which neighbors say will lead to increased traffic.
Developer plans 26-story tower along canal
Valparaiso-based Investment Property Advisors wants to build an $83 million apartment project for college students on one of the last available parcels along downtown’s Central Canal.
Indianapolis’ revitalized Georgia Street is work in progress
Workers finished $12.5 million in improvements between the Indiana Convention Center and Conseco Fieldhouse in November. Now will building owners bring the entertainment spot to life?
Ex-Speedway boss plans 4-lot subdivision on north side
Former Indianapolis Motor Speedway CEO Tony George and his wife had tried unsuccessfully to sell their 12-acre wooded estate and now are planning to divide the land into a four-lot subdivision.
Neighbors oppose gas station at 16th and Central
Residents of an area near the intersection of Central Avenue and 16th Street are sparring with owners of a site on its northwest corner who want to build a gas station there. The neighbors had other hopes for the spot, as part of their plans for a pedestrian-friendly 16th Street corridor.
Ripken eyes Indy for major youth baseball complex
Officials for Ripken Baseball Inc., which operates two of the country’s top youth baseball facilities, are considering Indianapolis as a location for a major complex that could cost up to $20 million to build and draw thousands of players and spectators each year.
Mass Ave deal’s brokerage fee raising eyebrows
A real estate brokerage picked by the city to spearhead redevelopment of a prime Mass Ave parcel occupied by the Indianapolis Fire Department stands to collect a million-dollar-plus payday if it closes the deal.
Civic leaders urge Ballard to tackle woes facing urban core
Community leaders are coalescing around a three-prong strategy to attract residents and capital to neighborhoods from just outside downtown to the borders of Interstate 465. It’s not yet clear whether all the initiatives will have the full support of Indianapolis Mayor Greg Ballard.
Obscure not-for-profit covering shortfalls in Carmel
The Carmel City Center Community Development Corp. has emerged as a key player in the city’s burgeoning downtown. The not-for-profit 4CDC last month gave the performing arts center $1 million to cover its operating expenses, and it’s expected to provide another $4.5 million through June 30.