Commercial real estate will continue its climb back in 2011
Medical office likely will be the strongest sector, followed by apartments.
Project Funding
Articles
Lender takes action on Renaissance Bay project
An incomplete $150 million development that was supposed to feature 305 luxury condominiums along a 25-acre lake on the north side of Indianapolis has been placed in receivership.
North of South financing clears first hurdle
The Metropolitan Development Commission has approved an $86 million city loan to help fund the $155 million mixed-used development near the downtown campus of Eli Lilly and Co. The project still needs approval from the City-County Council.
Foreclosure washes away water park plans in Fishers
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
Start of downtown North of South project in flux
The developer of the $150 million mixed-use project in downtown Indianapolis had hoped to start construction by the end of the year. But delays in getting the project zoned properly likely will move the start date back.
Part of City Market renovation project put on hold
City planners have downsized their renovation plans because project bids came in too high to meet the $2.7 million budget.
Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
Developer of Binford Medical Complex files for Chapter 11
The developer of an unfinished medical office complex on Binford Boulevard has filed for Chapter 11 bankruptcy protection in hopes it can retain control of the property and resume construction later this year.
Broadbent subsidiary seeks bankruptcy reorganization
The owner of the building that houses the Music Mill concert venue listed assets of $1.4 million and liabilities of $1.3 million.
Legal fight over Pan Am Plaza outpaces redevelopment
Plaintiffs are challenging the city’s 2007 decision to waive a hefty fee that otherwise would have been required to redevelop the crumbling site.
Dolce hotel, YMCA part of city-funded ‘North of South’ development
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
Estridge drops Westfield sports complex, still plans stadium
The Estridge Cos. has withdrawn a proposal to build a massive youth sports complex in its master-planned Symphony development in Westfield.
Lauth revival hinges on judge approving settlement
The deal with financial backer Inland American Real Estate Trust would leave Lauth Group with fewer properties but a more manageable debt load.
Browning pulls out of Evansville hotel redevelopment
Indianapolis-based Browning Investments plans to turn the former Executive Inn back over to the city after being unable to
arrange financing for the project.
Developer making final push for embattled Uptown project
Developer Leif Hinterberger has spent five years and most of his savings trying to build a $19M mixed-use
project at 49th Street and College Avenue. The project could be in trouble if he doesn’t get city
support.
PNC foreclosing on Janus Lofts building
Pittsburgh-based PNC Bank has filed to foreclose on the historic five-story Janus Lofts building at 240 S. Meridian St.
Construction supplies firm plans mixed-use HQ downtown
Affordable Building Supplies LLC, which was displaced by the construction of Lucas Oil Stadium, hopes to move its headquarters
closer to downtown in a new mixed-use building on South Meridian Street.
Mass Ave project on verge of approval
The addition of an underground parking garage is likely to get Trail Side off the drawing board and under construction.
A new real estate crisis could wreck recovery
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due
by the end of 2014.
Huge tax-credit deal will fund rehab of 538 apartment units
The largest tax credit deal in state history will fund the rehabilitation of 538 apartments in four complexes owned
by the Indianapolis Housing Agency.