Developer HDG Mansur battling in court with former client
A local real estate fund manager sued by a former client is fighting the charges by claiming in a countersuit that it’s owed more than $20 million in fees.
A local real estate fund manager sued by a former client is fighting the charges by claiming in a countersuit that it’s owed more than $20 million in fees.
City incentives and a strong apartment market suggest Flaherty & Collins’ proposed $81 million, 28-story downtown apartment tower has a better chance of getting built than two previous attempts to redevelop the former site of Market Square Arena.
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.
The property at 800 N. Capitol Ave. is receiving a total rehab from two local developers that are retrofitting the building with 111 apartments.
The Retreat on Washington would be the developer’s second project at the former psychiatric hospital campus on Indianapolis’ west side.
The city's largest real estate brokerage expects the industrial and housing markets to boom in 2013, but offers a more cautious view on the office and retail sectors, predicting that uncertainty caused by political gridlock could hamper an already sluggish recovery.
The former post office at Washington Street and Ritter Avenue once anchored a commercial hub in the historic neighborhood. About $400,000 in repairs are expected before the groups attempt to flip the property for a new use.
Downtown is short of the four- and five-star hotel rooms preferred by National Football League sponsors and partners for a 2018 Super Bowl host, but local tourism officials are hesitant to add more hotel space just to secure a second Super Bowl.
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
A partnership of Flaherty & Collins Properties and Insight Development Corp. was awarded rental housing tax credits by the state that will be sold to finance construction of a 61-unit, $11.5 million apartment project at 555 Massachusetts Ave.
Two significant construction projects are closer to starting in Irvington, where the district’s East Washington Street commercial corridor is bouncing back even as one of its key buildings faces demolition.
Former partners in Kosene & Kosene Development have settled a legal dispute that jeopardized redevelopment of the vacant former Bank One Operations Center downtown. Milhaus Development has until May 1 to begin construction.
A newly public filing shows the co-founder of The Broadbent Co.’s net worth has fallen 60 percent, to $48 million.
The city of Indianapolis approved the project after accepting Mainstreet Property Group’s offer to purchase the property at 16th Street and Arlington Avenue for $912,500.
A local developer and historic preservation group have teamed up to save a 1913 apartment building near the Children’s Museum from demolition.
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.
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
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.
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
Money for real estate acquisition is a major component of the $7.1 million in incentives the city of Indianapolis offered Angie's List Inc. for expanding its headquarters campus to accommodate 500 more employees.