TWG seeking tax break on $73M apartment complex planned near Lucas Oil Stadium
As part of the request, TWG is pledging to make 41 of the 270 units available to individuals and families making up to 70% of the area’s median income.
Downtown
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Council plans introduction of tweaked downtown tax district
Funds raised from the downtown economic enhancement district would pay for cleaning and beautification efforts, public safety initiatives, homeless outreach and costs associated with a planned low-barrier shelter.
Owner of 27-story downtown apartment tower faces $101M foreclosure lawsuit
Since it was completed in 2018 at a cost of $120 million, the tower has become one of the city’s priciest residential properties, with an average rent of $2,365 per month, or $2.58 per square foot.
WWE deal stems from long-simmering talks with Sports Corp.
The two organizations reached an agreement announced Monday that will bring a trio of top-rung WWE events to Indianapolis over the next eight years.
City views soccer stadium as catalyst for growth
With funding plans for a proposed soccer stadium clearing another hurdle this week, Indianapolis leaders, developers and brokers are beginning to evaluate the impact such a project could have on the near-east side of downtown.
City wants to jump into MLS stadium talks this summer
The city and the Capital Improvement Board of Marion County in the coming weeks will convene with the prospective MLS investor group to begin early design work for a stadium on the downtown heliport property.
Hogsett gets OK from city commission on plan to fund soccer stadium
The approval of the taxing district now allows the Hogsett administration to request authorization from the State Budget Committee—a step required because the funding plan relies on up to $9.5 million per year in state taxes.
IBJ Podcast: Sushi eatery owner expanding in Mass Ave area with new restaurant, refreshed Metro
Bill Pritt digs into the origin story of Mass Ave’s Forty Five Degrees and the real estate acquisition—and yogurt shop—that helped him succeed. Plus, he serves up details from his plans for Harrison’s Restaurant and the Metro.
Purdue takes next step to develop $187M mixed-use project for new downtown Indy campus
Purdue officials say the Academic Success Building “will evolve with the needs of experiential education, accommodate courses that would not otherwise be offered with existing space, and provide on-campus housing.”
Chucky-D restaurant opens at former downtown Punch Burger site
Chucky-D is a concept launched by three partners who have experience managing Asian restaurants in central Indiana.
Proposed taxing district for downtown MLS soccer stadium to run gauntlet of city votes
The City-County Council’s Rules and Public Policy Committee on Tuesday will hear the Hogsett’s administration’s case for creating the professional sports development area, with scrutiny by the full council to follow on June 3.
IBJ Podcast: Downtown soccer battle update—stadium design, burial sites, Simon family land
The saga has taken several turns with fresh revelations about what’s underneath the ground set aside for the stadium complex that developer Keystone Group wants to build and who owns the land the city has identified for another site that Mayor Joe Hogsett’s administration has championed.
City faces challenges, new considerations in effort for MLS
Although the possibility of a Major League Soccer stadium in Indianapolis is still up in the air, city officials are considering design possibilities for their preferred site, on the east side of downtown.
Hotel slated for parking lot across from Gainbridge Fieldhouse
The hotel would be flagged as a Tempo by Hilton, a brand launched in early 2020 with a focus on drawing business travelers with higher-end amenities like bars and cafes.
Timeline firming up for converting Gold Building to apartments as construction costs climb
Last month, city officials and the two developers reached a tentative deal for addressing key elements of the overhaul of downtown’s City Market block, including reskinning the Gold Building and renovating the adjacent Ohio Street parking garage.
Restaurateur takes over former downtown bank branch by Riley Towers
FortyFive Degrees owner Bill Pritt said he intends for Harrison’s Restaurant, a concept based on “good portions and fair prices,” to open by spring 2025.
Owner of historic building in possible MLS stadium development area says she won’t sell
A proposal to develop a Major League Soccer stadium on the east side of downtown Indianapolis is facing some early resistance from the owner of a historic property in the heart of the proposed development area.
City reveals new taxing district map for proposed MLS stadium
The map specifies more than 120 non-contiguous addresses throughout downtown that would be incorporated into a new professional sports development area, or PSDA.
Hendricks closes on $85M purchase of Circle Centre Mall
Hendricks Commercial Properties—the developer of the Bottleworks District—plans to spend at least $600 million to convert the nearly 30-year-old mall into an open air, pedestrian-focused retail, office and residential district.
Downtown office properties are facing tough financial years—but mall project offers hope
It’s a challenge hitting urban centers across the United States. Downtown office buildings are seeing their values plummet and vacancy rates climb due to space consolidation and a continued hesitancy toward renewals and new leases following the pandemic.