The approval allocates $25 million from the city’s downtown tax-increment financing district to pay for the acquisition of the basement level of the project from developer Kite Realty Group Trust, which plans to build an 800-room hotel and an addition to the Indiana Convention Center.
The $550 million project includes a $125 million expansion of the Indiana Convention Center, as well as an 800-room hotel being developed by local developer Kite Realty Group Trust. A second 600-room hotel is planned for a later phase of the project.
The Indianapolis-based apartment developer plans to vacate its current headquarters in the Fletcher Place neighborhood for a newly designed space that can house twice as many employees.
The Cole Motor Redevelopment, which includes the former Jail II building and Arrestee Processing Center, is one step closer to receiving tax-increment financing.
The shopping center at 3919 Lafayette Road, now known as Window to the World, was expected to reopen on Nov. 21, ahead of Thanksgiving weekend shopping.
The Retreat at Morse development is expected to include attached single-family villas that would be built by Beazer Homes and cost an average of $400,000.
The Indianapolis City-County Council and Metropolitan and Economic Development Committee are considering tax-increment financing for three apartment developments that prioritize access to transit.
The future Daiquiri Factory occupies 3,000 square feet in a building that includes hair salon Bang (A Salon).
The overall, $50 million master development is receiving $8.5 million in public funding, including $3.5 million from the Indiana Regional Economic Acceleration and Development Initiative, or READI.
The development team hopes to land a single office tenant to occupy most of the building, although the first floor could also consist of retail or other commercial uses.
City officials see the 0.65-acre parcel at 222 N. Alabama St. as a connector between the Mass Ave cultural district and the Market East area, potentially with a hotel or apartment project.
The Fort Harrison Reuse Authority has offered a 3.8-acre parcel of land to developer Keystone Group for $10 as an incentive to go ahead with the project.
The city’s “request for information” is likely to garner suggestions from developers for mixed-use developments, apartments, community spaces and facilities for not-for-profits.
In addition to introducing plans for the new tax hike, the Fishers City Council on Monday unanimously approved plans for Andretti Autosport’s $200 million headquarters and an updated headquarters-expansion proposal by Italy-based Stevanato Group.
The Monon Square North project at East 126th Street and South Rangeline Road is expected to include housing, office space and retail space, restaurants and parking.
The 38-acre development would include multifamily housing, attached townhouses, 430,000 square feet of retail and office space, public outdoor space and public parking garages.
The 32-acre build-to-rent project would be on the north side of the 400-acre Legacy mixed-use development, which is along the south side of East 146th Street and west of River Road.
Fishers officials on Wednesday announced a $650 million expansion plan for Fishers District that includes the arena, a new event center, residential and lodging developments, and entertainment and dining options.
The Monon 32 and the Domino, two projects in the 14.5-acre Monon 30 project, have received approval for their own respective tax increment financing districts and millions of dollars in bonds.
The developer behind the proposed revamp of the former Jail II and Arrestee Processing Center facilities on the eastern edge of downtown Indianapolis said he expects city incentives for the project to be secured by the end of this year.
