City set to unveil Market Square project plans
City officials will reveal the winner Tuesday morning from six teams that bid on redeveloping the downtown site. All proposed mixed-use projects, but they ranged in size from eight to 52 stories.
Development/Redevelopment
Articles
Huge greenhouse development planned for Haughville
New York-based BrightFarms Inc. plans to build a 100,000-square-foot hydroponic greenhouse on a vacant 5-acre parcel of land at 2219 W. Michigan St. that will employ 25.
Shelbyville sees spark of revival downtown
A homegrown revival in Shelbyville could gain serious momentum with redevelopment of the vacant First Methodist Building, one of the most prominent buildings on the circle. A California investor bought the five-story building in May and plans a $3.5 million renovation.
New owners plan to upgrade apartments plagued by shortcuts
The ill-fated Di Rimini apartment project that city officials halted three years ago because of numerous code violations is set to be resurrected by two local businessmen.
Aging east-side shopping center to be redeveloped
A local developer has received city approval to rezone 10 acres at Fall Creek Parkway and East 56th Street as part of a plan to demolish a mostly vacant retail center and replace it with a 42,000-square-foot anchor grocery store and other shops.
More upgrades in store for downtown’s Cadillac Building
The building owner is opening window coverings that had been sealed shut, a move that will make the property more attractive to a retailer. A huge apartment project underway nearby is giving the area a lift.
High-profile Carmel property draws just one bid
Would-be buyers of the former Party Time Rental site in Carmel were asked to pitch plans for a three-story (or taller) mixed-use building featuring first-floor retail and plenty of parking.
Veteran custom homebuilder taking prefabs downtown
Ursula David is out to dispel the perception that modular homes are little more than glorified double-wides. David, who started Ursula David Homes 20 years ago, is concentrating on a new project, Indy Mod Homes, and is targeting an unlikely place for the prefabs—the urban core.
Indianapolis moving forward with startup land bank
The executive director of the Land Bank of Indianapolis anticipates working with the city to issue a request for qualifications aimed at charitable and for-profit entities interested in acquiring properties.
AT&T building’s new owner targets first-floor retail
Geis Properties, a division of Streetsboro, Ohio-based Geis Cos., purchased the 558,000-square-foot building for $16.5 million late last month from AT&T, which is reducing its downtown presence.
Vacant GM stamping plant to be demolished
The 2.1 million-square-foot plant, which sits on 102 acres near downtown, opened in 1930 and employed more than 5,000 at its peak. That number was fewer than 700 when it closed two years ago.
Center Township trustee to list Mass Ave building
The township board in late May gave Trustee Eugene Akers permission to list the property, which has a five-story office building on 1-1/3 acres of land.
Fishers, Noblesville put cuffs on charities to recoup tax revenue
Two growing Hamilton County communities looking to build their commercial tax base are taking steps to ensure land targeted for development doesn’t end up in the hands of organizations that don’t pay taxes.
Riley CDC names successor to retiring executive director
Eric Strickland’s appointment was effective June 1. He brings more than 18 years of engineering, real estate development and economic development experience to the organization.
City’s first spec office building in 5 years opening doors
Sourwine Real Estate Services expects to have its $12 million, 80,700-square-foot project finished later this month in one of the city’s hottest north-side development areas.
Muncie council backs $60M project near Ball State
The Muncie City Council has approved financing for a six-story parking garage as part of a planned $60 million project with apartments and commercial storefronts.
Carmel council clashes over support of Midtown project
The Carmel City Council will not support Pedcor Cos.’ application for a state tax credit to help pay for a $100 million redevelopment project—a contentious decision Mayor Jim Brainard called “unusual and illogical.”
Bank seeks to foreclose on architectural firm’s HQ
KeyBank has filed a lawsuit against A2SO4 Architecture and is asking a judge to appoint a receiver to manage the property at 540 N. College Ave. The bank says it is owed nearly $1 million.
Mainstreet plans $9.2M nursing home on northwest side
The 65,000-square-foot nursing-home and assisted-living facility would feature an Internet cafe, movie theaters and restaurant-style dining with an on-site chef.
IndyGo jettisons big-name designers
An internationally known architectural team chosen to design a proposed IndyGo transit hub is no longer on the project, to no surprise of local architects who insist the transit agency botched the selection process from the start.