The city put up $25 million for the hotel, restaurant and condo development at the corner of Washington and Illinois streets, including $3.75 million in exchange for the economic equivalent of an 8-percent stake.
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.
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
City leaders argue the termination fee would be paid only if the city breaks the 50-year agreement after the City-County Council signs off on the deal, not if the contract doesn’t win approval.
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.
Mayor Greg Ballard’s potential lease of more than 15,000 street, surface and garage parking spaces could create turnover downtown
and in Broad Ripple, boosting retailers and restaurants.
BOS Community Development Corp., created in 1982 to revitalize the Indiana Avenue and Midtown area, says its mission is accomplished.
Officials grappling with a water utility deep in debt and a sewer infrastructure needing upwards of $2 billion in
upgrades were swamped with proposals about how to fix the mess.
The Capital Improvement Board could be forced to give up one of its most profitable assets so the city can pull off a $65-million
public-private downtown development deal. The city has agreed to help a developer revitalize the vacant former Bank One operations
center in part by acquiring an adjacent
parking garage for $18.5 million.
Local leaders and, soon, a national team of experts, are quietly developing a strategy to revitalize Marion County’s biggest
concentration of brownfield sites and impoverished urban neighborhoods, centered at East 22nd Street and the Monon Trail.
Westfield Mayor Andy Cook is proposing a $60 million youth sports complex with a 4,000-seat multipurpose outdoor
stadium, indoor sports facilities and sports fields with the goal of establishing the Hamilton County community as the "Family Sports Capital
The Marion County Capital Improvement Board’s bailout depends on the success of Indianapolis’ new downtown JW Marriott convention hotel.
A commission that has drawn $12.5 million in grants and public money to promote Indianapolis’ artistic side is awaiting word
on its future.