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.
Development/Redevelopment
Articles
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.
Broad Ripple buildings slated for office conversion
Kyle Robinson and Drew Loftus are in the process of buying and rezoning a trio of vacant, connected buildings at 6334 Westfield Blvd., where the Monon Trail crosses the canal.
Buyers edging back into Indianapolis commercial real estate
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
Developer plans $54 million in new apartment projects
A local developer plans to invest more than $54 million to build apartment communities adjacent to the Rivers Edge shopping center in Indianapolis and Metropolis in Plainfield.
Bush Stadium gets last hurrah
City leaders and economic development officials planned to pay tribute Oct. 28 to Bush Stadium’s historical significance before work begins to convert the venue into loft apartments.
Carmel mayor’s next goal: Build posh, $32M hotel
The principal developer of Carmel’s City Center, Pedcor Cos., is working with city officials on plans for a four-star boutique hotel that likely would cost at least $32 million to build and may require an additional city subsidy.
Indianapolis neighborhood striving for LEED status
Designation to east-side project would go beyond building certification.
City taking redevelopment bids for key Mass Ave properties
The city-owned properties targeted for redevelopment are at 555 N. New Jersey St., the site of Indianapolis Fire Department administrative offices and Station No. 7, and at 501 N. New Jersey St., the location of Firefighters Credit Union.