Keystone Group picked for Butler mixed-use project
The university chose Keystone over Kite Realty Group and Lauth Property Group to build housing, retail and parking worth up to $45 million.
Development/Redevelopment
Articles
City waterways initiative floats economic development ideas
More than 100 local groups are joining forces to rehabilitate neglected rivers and streams in Marion County in the hope of sparking redevelopment.
Developer targets long-empty College Avenue retail building
Teagen Development Inc. has a purchase agreement for the 6,600-square-foot building at 1101 N. College Ave., rescuing it from an attempt—since withdrawn—to demolish the structure.
Big names competing for Butler project
Butler University is finalizing plans for a mixed-use parking garage project near Clowes Hall that would include neighborhood retail and housing and might cost as much as $45 million.
Senior housing slated for old Lawrence school building
The Whitsett Group plans to invest $6.5 million to convert the building on East 46th Street into 60 senior housing units. The Lawrence Township school district put the structure on the block, and Whitsett submitted the winning bid.
Second-tier office buildings Indianapolis now top-of-mind for buyers
Class B admirers are benefiting from low prices and lending rates, and turning the buildings into apartment and company headquarters.
City lands grant to study reuse of old automotive sites
Federal and local funds will be used in the effort to reposition manufacturing sites abandoned by GM, Ford, Chrysler and Navistar.
New metropolitan development director named
Adam Thies will succeed Maury Plambeck as director of Indianapolis’ Department of Metropolitan Development, effective Oct. 1. Plambeck will lead a program directing the next RebuildIndy investments into city neighborhoods.
TIF expert is adviser to many municipalities
Loren Matthes helped broker first tax-increment financing deal in the state
Virginia Avenue attracts yet another project
Englewood Development has under contract the former Shirley Engraving property at 460 Virginia Ave., where it plans up to 50 apartments, about 5,000 square feet of retail space and an underground parking garage.
Airport may carve up ex-terminal property
Indianapolis International Airport managers say they haven’t given up hope that a single, mega-sized tenant could create an economic development boon at the site abandoned nearly four years ago when the midfield terminal opened. But the latest listing of redevelopment sites shows the former terminal complex being marketed in pieces.
MDC approves CIB’s sale of building to Steak n Shake
The Metropolitan Development Commission on Wednesday approved a resolution allowing the Capital Improvement Board of Marion County to sell the Ober Building in downtown Indianapolis to the Steak n Shake restaurant chain.
Steak n Shake paying $3.8M for Ober Building
An affiliate of the Steak n Shake restaurant chain has agreed to pay $3.8 million to acquire downtown's Ober Building from the Capital Improvement Board of Marion County. The restaurant chain likely will move its headquarters to the 1910 building.
Ex-concrete plant to be razed for Greenwood nature area
A former concrete plant in Greenwood faces the wrecking ball to make room for a wider road. The city plans to raze the former Prairie Materials concrete plant so it can turn Worthsville Road into a major boulevard that can handle traffic from a planned Interstate 65 exit.
FedEx Ground eyeing Zionsville for distribution center
FedEx would bring a distribution complex to Zionsville under a tax increment financing deal hammered out with town redevelopment commission members on Wednesday.
Major Westfield development projects making progress
Several big development projects planned for Westfield are under way or awaiting approval, but plans for a retail center at U.S. 31 and 161st Street have been on the shelf for several years due to the economy and road construction.
Local developer buys 50 acres in Intech Park
Ace Commercial Development plans to construct a build-to-suit development for an undisclosed client on the highly visible property. Real estate sources say the client is locally based Heritage Environmental Services LLC.
Vacant Consolidated Building purchased by local buyers
Two local buyers are angling to revitalize a century-old, 15-story downtown landmark that has confounded redevelopment attempts since its last tenants departed in the late 1990s. Ambrose Property Group and The Whitsett Group hope to transform the Consolidated Building into 98 apartments with first-floor retail or restaurant space.
Troubled Di Rimini apartment building closer to opening
A controversial downtown Indianapolis apartment building that never opened due to severe design deficiencies is a step closer to being ready for tenants after city officials granted the project’s new owner a zoning variance.
City Market hopes catacombs tours spur interest in redevelopment
City Market officials are giving public tours of the catacombs beneath the marketplace, in the hope that someone will be interested in transforming the 20,000-square-foot space into a restaurant or event venue.