IBJ Podcast: Inside the mind of a rising Indy apartment developer
After five years with Indianapolis-based Birge & Held, Jarod Brown decided he wanted a business with his name on the door. For his HQ, he bought the former Broad Ripple Library.
Development/Redevelopment
Articles
Most of remaining catacombs will be exposed as part of City Market plaza overhaul
The $15 million project, a collaboration between the city and Indianapolis developers Gershman Partners and Citimark, is tentatively expected to daylight about 13,500 square feet of the catacombs on the southern portion of the plaza.
City, developers unveil plans for City Market’s western plaza
Gershman Partners and Citimark plan to collaborate on the overhaul with the City of Indianapolis, which will spend about $15 million to improve the Indianapolis City Market’s western plaza with green space, outdoor seating and an indoor-outdoor cultural exhibit centered on the underlying Indianapolis Catacombs.
Deal between Carmel, Hamilton County could accelerate Clay Terrace redevelopment
Members of the Carmel City Council on Monday night voted 9-0 to approve an interlocal agreement between the city and county that could spur development of a vacant area on the southeast side of the Clay Terrace outdoor shopping center.
Simon-backed group buys key parcel at potential MLS stadium site
The parcel, a parking lot of just six-tenths of an acre, was sold for $1.59 million by electric company AES Indiana.
IBJ’s biggest real estate development stories of 2024
IBJ has reported extensively on numerous projects throughout this year in the core of Indianapolis and across the area—some that made significant progress and others that ground to a halt.
2024 Year in Review: City sees key development projects start or advance
More than $8.5 billion in development is underway across downtown, with more coming as projects in their earliest stages wind their way through the planning process.
Hickory Junction’s next phase to include 450-plus housing units, commercial space in Lebanon
Card & Associates is making plans to grow Hickory Junction, which already includes the $31 million Farmers Bank Fieldhouse and two planned hotels.
Damien Center planning 40-unit apartment project next to future headquarters
The nonprofit, Indiana’s largest and oldest AIDS service organization, hasn’t finalized a budget for the project, but early estimates place the cost between $12 million to $15 million.
City initiates demolition of 8 more buildings at troubled Towne & Terrace
The ultimate goal of the Hogsett administration is to redevelop the 20-acre property site in conjunction with the neighboring Oaktree Apartments site.
Neighbors push back on east-side development proposal
An out-of-state investment firm with plans to redevelop a rundown east-side retail center intends to refine its approach to the project weeks after hearing objections from neighbors—some of whom have their own ideas for the property.
IEDC requests additional $60M for Lilly, Meta land, infrastructure at LEAP
The state’s job-creation agency is seeking $27 million to purchase about 307 acres and pay for deposits and option payments for additional land west of Interstate 65. Another $33 million is being sought for infrastructure work.
Developer plans $22M apartment, retail project with housing for veterans along Keystone corridor
The 92-apartment development, which would feature one- to three-bedroom units, would consist of market rate and reduced-income housing, with the latter meant to serve homeless veterans.
$110M residential project in works near battery plants
The project, known as The Hub District, is expected to include town houses, retail space, a hotel and more than 500 apartments on a 26-acre site.
ISO planning major facelift for Hilbert Circle Theatre
The overhaul would include construction of a new rooftop event space and outdoor terrace overlooking Monument Circle, a revamp of lounge areas, and a new covered walkway and entryway along the Scioto Street alley.
Indianapolis Airport Authority gets OK from FAA to close heliport
The Federal Aviation Administration has informed the Indianapolis Airport Authority it can move ahead with decommissioning the Indianapolis Downtown Heliport property to make way for the site’s eventual redevelopment.
$8M townhouse development planned for north-side brownfield
The 20-unit townhouse project will consist of six buildings just south of 22nd Street, across from the development group’s M22 apartment project.
City weighing whether to award $40M in TIF, forgivable loan funds for Simon-led hotel, entertainment project
The $312 million project calls for a 170-room Shinola Hotel, a 4,000-seat live performance venue operated by Live Nation, an enclosed parking garage and a skybridge connecting to Gainbridge Fieldhouse.
Westfield City Council hears new $1.2B plan for Grand Universe development
The Westfield City Council on Monday night heard an introduction for the 66-acre development centered on space exploration and science education east of Grand Park Sports Campus.
Fishers pumps new life into aging Allisonville Road corridor
Once a thriving gateway on the west side of Fishers, the area has remained stagnant for nearly 20 years as places closer to Interstate 69, such as the Nickel Plate District and The Yard at Fishers District, have experienced rapid commercial and residential growth.