City to consider $7.7M bond issue to assist Broad Ripple project
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
Development/Redevelopment
Articles
Lawmaker Turner worked to nix nursing home ban
A powerful House Republican secretly lobbied colleagues in the final hours of the 2014 session last week to kill a measure that would have been disastrous for his family's nursing home business.
Council backs city financing plan for $81M tower
The Indianapolis City-County Council voted 18-9 Monday night to provide up to $23 million in city financing for the project, with the stipulation that 30 percent of the workers hired to build the 28-story building live in Marion County.
Home-remodeling firm giving new life to vacant Carmel center
The vacant, 14,500-square-foot property in the heart of the city has been purchased by a local home-remodeling company, which plans to occupy half the building and lease the rest.
UPDATE: Mayor picks GM site for criminal justice complex
Mayor Greg Ballard will recommend that a proposed criminal justice complex be located on the former GM stamping plant on the western side of downtown—not the airport property that ranked highest in a market study.
UPDATE: Anderson schools extend Wigwam gym deadline
The Anderson Community School Board is holding off demolition plans for the district's Wigwam gymnasium and giving more time to leaders of an effort trying to save it.
Developer to break ground on Fort Ben project
The 36,000-square-foot building will house 27,000 square feet of office suites. The remainder will be retail, with the local Jockamo's Pizza chain slated to open a restaurant in the largest space.
Red Cross rethinking downtown HQ design, delaying land swap
Re-examination of the scope of the not-for-profit group’s project has stalled progress on a three-way property exchange that would clear the way for a massive apartment project on Massachusetts Avenue.
No-holds-barred tactics lifted developer Ozdemir
Ersal Ozdemir, who heads the development and construction firm Keystone Group, has charmed elected officials for years with big ideas—and hundreds of thousands of dollars in political contributions.
Bill adds oversight to redevelopment commissions
The Indiana House approved a Senate bill that adds transparency to redevelopment commissions and forces decades-old tax-increment financing districts to expire.
Indiana Landmarks rescues endangered Jewish landmark
The preservation group paid $50,000 to rescue the near-north side temple on Ruckle Street, which was first occupied by the Beth-El congregation. After a roof replacement, officials hope to find a tenant for the historic building.
Committee urges hiring commitment for $81M MSA tower project
A City-County Council committee recommended approval for the 28-story building but only if the developer pledges that 30 percent of the workers it hires to build the tower live in Marion County.
Council hopes historic value nixes IU land swap
Bloomington leaders would like a proposed new historic designation to persuade Indiana University to think twice about a land-swap plan that could include razing six houses to make way for a new fraternity building.
Kite floats two-tower Pan Am Plaza project
The latest plan to redevelop Pan Am Plaza calls for two hotels, residential units and restaurants spread across two towers as tall as 20 stories each, sources familiar with the details told IBJ.
New owner to spend $51M firing up Noblesville foundry site
ID Castings LLC plans to resurrect the property on South Eighth Street, an eyesore that has been underused for years. The company is asking the city for a $1.3 million tax break.
UIndy plans $50M in expansion projects
The bulk of the money, to be spent over five years, will go to a 134,000-square-foot health sciences center, which will provide training space for the university’s nursing, physical therapy and other health care students.
Rose’s plan for $80M Carmel project moves forward
Edward Rose Properties’ proposal to develop an $80 million mixed-use project near Old Meridian and Main streets is heading to City Council for consideration.
Weaver’s site sale could lead to Broad Ripple village-park connector
Weaver’s Lawn & Garden Shop at 1316 Broad Ripple Ave. has been in business for decades. Now that family members have sold the property, local leaders hope the land eventually can serve as a recreational link.
ExactTarget mulls building downtown tower
ExactTarget Inc. is evaluating downtown sites where it could build a headquarters tower as large as 500,000 square feet, real estate brokers familiar with the discussions told IBJ.
Fishers’ mayoral candidates disagree on best growth strategy
The six Republicans vying to be Fishers’ first mayor fall into two camps on the key issue of growth: those who support recent efforts to spur business activity downtown, and those who advocate a more hands-off approach.