The project includes renovations to the 15-story apartment building in downtown Indianapolis, as well as the construction of two mixed-income buildings containing a total of 74 units at its base.
The pending sale of two historic buildings and a vacant lot just south of Massachusetts Avenue is the first of what could be several deals in the area as one of its largest property owners begins to divest its holdings.
Fort Wayne-based Star Financial Bank, which is trying to recover some of the more than $23 million it loaned for the condominium project, submitted the only bid for it on Wednesday. The bank said several potential buyers are interested in the property.
Indiana University Health has canceled its plans for a $73 million administrative office building at 16th Street and Capitol Avenue and has instead purchased the Gateway Plaza tower at 10th and Illinois streets.
The $155 million complex, to be built primarily on Eli Lilly and Co.-owned parking lots at Delaware and South streets, is to include a boutique hotel, a YMCA, apartments and retail and office space.
Browning Investments is close to breaking ground on a small retail strip center on West 86th Street in front of St. Vincent Hospital and is in the early stages of planning a larger retail center at 131st and Meridian streets.
The lead developer on a long-delayed proposal to redevelop the former Bank One Operations Center has landed a powerhouse partner: apartment developer Gene B. Glick Co.
Regional Center Hearing Examiner gives blessing to the $155 million development’s master plan. Site plans will go before the Metropolitan Development Commission on March 2.
The City-County Council will consider Monday evening whether to allow the city to issue $98 million in bonds to finance a portion of the controversial $155 million development.
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
Medical office likely will be the strongest sector, followed by apartments.