The $300 million hotel will be the most expensive and elaborate new lodging project built in the city since the $450 million JW Marriott complex was completed in 2011. And it will compete directly with the JW.
Pavilion at Pan Am owners eye new venue to replace soon-to-be-razed building
The operators of the Pavilion at Pan Am Plaza event center are considering building a $15 million venue in downtown Indianapolis to replace the one Kite Realty Group plans to turn into rubble as part of its massive redevelopment of the plaza.Read More
Kite Realty reports tough 2nd quarter, but exceeds expectations
Kite Realty Trust collected 80% of base rent from tenants in the second quarter despite the pandemic. That percentage jumped to 87% in July.Read More
Kite Realty Group bets big on hotel, even as other projects wither
A third of planned downtown hotel rooms announced before the pandemic are now on hold.Read More
City, Kite reach deal for $550M Pan Am Plaza project—with up to 2-year delay
The city will not subsidize construction of Kite’s two hotels on the site but will ask the City-County Council to authorize a $150 million bond to finance an addition to the Indiana Convention Center.Read More
The project, expected to cost as much as $550 million to construct, has been in the works for years as Kite and the city worked to reach an agreement.
In both of the suits, Indianapolis-based Kite claims that the retail tenants are in default on their leases because they didn’t pay rent in April, May or June.
A proposal to issue economic development tax increment revenue bonds for Kite is slated to be voted on by the City-County Council’s Metropolitan and Economic Development Committee on Monday.
Heath Fear has guided the company to surer financial footing, largely by orchestrating the sell-off of two-dozen less properties to free up cash for future investments.
The loan program, geared toward Kite tenants that operate fewer than five retail locations, will accept applications beginning Friday. Industry experts say many mall tenants weren’t able to pay April rent.
Firms across the country from a broad range of industries will be taking a hard look at their dividends in the coming weeks, as the pandemic forces businesses to focus on conserving cash.
The Indianapolis-based real estate investment trust beat Wall Street predictions in two key financial categories in the fourth quarter.
The Carmel Plan Commission gave a favorable recommendation Tuesday for the City Council to rezone 14 acres at the southeast corner of Meridian Street and Carmel Drive to a less restrictive designation.
Indianapolis-based developer Kite Realty Group Trust is asking the cities of Carmel and Indianapolis to ante up incentives for a trio of mixed-use projects in its pipeline.
The city’s Metropolitan Development Commission on Wednesday gave Kite Realty Group the necessary approvals it needs to proceed with its plan build a 267-unit apartment complex adjacent to Glendale Town Center.
The divestitures are part of what the company calls Project Focus, a previously-announced project to sell off non-core assets and pay down debt.
At least four restaurants in the area have blamed their closings on the U.S. 31 project. Carmel says other nearby restaurants are doing just fine.
Ongoing disagreement between the city of Indianapolis and a group of downtown hotel owners has prompted city leaders to officially postpone construction of one of the two convention hotels planned for Pan Am Plaza.
The two local developers said they hope to start work on a 267-unit apartment project in Glendale Town Center’s parking lot by the end of this year.
A powerful group of hoteliers that opposes a proposal to build a pair of hotels on Pan Am Plaza scored a victory in the Legislature. But the plan to construct the project remains very much alive.
Some of the biggest hotel operators in Indianapolis say the city would not be able to absorb the 800-room and 600-room hotels planned by Kite Realty Group Trust alongside the proposed expansion of the Indiana Convention Center at Pan Am Plaza.