What is tipping point for development incentives?
A Carmel City Council committee’s decision not to help Pedcor Cos. land a state tax credit sent a message to developers: Public money won’t be flowing quite as freely in the future.
Development/Redevelopment
Articles
Carmel panel refuses to back Midtown redevelopment plan
A $100 million proposal to reinvent an old industrial area in downtown Carmel hit a snag Tuesday, when a City Council committee decided not to pursue a state tax credit that could help fund the project.
Fishers buys properties, moves dirt to draw developers
Officials have quietly struck deals with more than a half-dozen property owners in the triangle-shaped targeted area west of Lantern Road, east of the railroad tracks and north of 116th Street.
Broad Ripple project takes heat at Village meeting
Jeering and catcalls greeted officials from Browning Investments, which has proposed the $18 million residential and retail development along the Central Canal.
High-profile developer chases Indy debut
Cleveland-based Forest City Enterprises Inc., developer of the 76-story New York by Gehry in New York City, is teaming with Keystone Group in its bid to redevelop a prime piece of downtown real estate where Market Square Arena once stood.
$225M Westfield project in works
Developer Steve Henke’s vision for Grand Park Village is grand: a 20-acre lake surrounded by an East Coast-style boardwalk lined with restaurants and shops. He sees a carousel at one end of the lake and a Ferris wheel at the other—with a beach, mini marina and watering hole in between.
Interest in Westfield schools’ land not paying off … yet
Westfield Washington Schools likely will hold onto 14 acres of high-profile property at the corner of U.S. 31 and State Road 32—at least until offers for the land improve.
Pittman pitches $90M mixed-use project for Zionsville
One of the highest-profile tracts of undeveloped land in Zionsville could be transformed into a commercial and residential hub if Pittman Partners' 62-acre project gets the town’s blessing.
Greenwood, Whiteland try to spur, shape growth
Two Johnson County communities are determined to capture—and control—the next wave of suburban growth.
Athenaeum weighs bids for surface lot redevelopment
Three developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to the historic Athenaeum building.
Zionsville to share TIF revenue with school district
Zionsville’s cash-strapped school district could collect almost $5 million from the town’s tax-increment financing district if an unusual land deal is finalized later this month.
Developer planning $60M project near Ball State
Investment Property Advisors of Valparaiso hopes to build a four-story building wrapping around a six-story parking garage that will have 228 apartments and storefronts on the street level.
Development may spawn TIF tug of war
The developer of a $17 million mixed-use project proposed for Broad Ripple is expected to seek a city subsidy—support that at least one City-County councilor believes should be reserved for neighborhoods starved for investment farther south.
Whitsett goes big with Star project
A local developer plans to tear down part of the Indianapolis Star’s downtown headquarters while saving most of the building in a redevelopment that calls for 350 apartments—more units than the massive CityWay.
Browning exec Dye joining The Whitsett Group
Dennis Dye will become a partner at Whitsett, a prolific developer of affordable housing. He has served two stints at Browning totaling about 20 years.
Horizon Bank gains access to Mass Ave with building purchase
Michigan City-based Horizon Bank bought the two-story building at 302 N. Alabama St. for $1.5 million and is embarking on a “substantial” investment in the property.
Meijer might finally be coming to Anson
Construction paperwork indicates the store will be almost 200,000 square feet and employ 100 people.
Developers finish first project, shift focus to downtown deal
Drew Loftus and Kyle Robinson are wrapping up their first project, in Broad Ripple, and have bought another building, this one downtown. A well-known architectural and design firm is slated to be the building’s tenant.
Zionsville’s Main Street aims to boost drawing power, charm
Zionsville’s new economic development plan calls for ramping up commercial activity in the predominantly residential community—just not at the expense of the mom-and-pop shops that give the Boone County town its charm.
Ownership snarl resolved, Illinois Building on block
An affiliate of locally based HDG Mansur has owned the 10-story building at Illinois and Market streets since the 1980s. It’s sat empty for 10 years, thanks in large part to separate ownership of the building and the land—an arrangement once common among downtown buildings.