City offers another parks facility for lease
Indy Parks & Recreation officials on Monday issued a request for proposals from entities interested in leasing the Riverside Marina facility near 30th Street and White River Parkway.
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Governor seeking leeway on road deals
Gov. Mitch Daniels’ legislative priorities for next year include putting guidelines into law that would allow the state to more broadly use the private sector to design, finance or operate public infrastructure.
City’s Conrad hotel investment starts to pay off for taxpayers
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.
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.
Indianapolis-area experts see bright spots amid ongoing real estate weakness
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
Critics of parking proposal question $500,000 penalty
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.
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.
Parking privatization may spur economic development
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.
IFD gets finger-lickin’ good sponsorship deal
KFC agreed to pay city for smoke detectors and fire extinguishers in exchange for using Indianapolis Fire Department to help
it launch new fiery grilled wings. Mayor Greg Ballard hopes the deal is the first of many such corporate sponsorships.
Neighborhood revitalization group calling it quits
BOS Community Development Corp., created in 1982 to revitalize the Indiana Avenue and Midtown area, says its mission is accomplished.
City receives host of sale, privatization ideas for water, sewer utilities
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.
$65M development deal would cost Capital Improvement Board
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.
Transit, sustainable development likely to be themes in rescue of near-north neighborhood
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.
Visible progress in the city hides other troubles
Indianapolis still looks like a city with momentum, despite the dismal economy. But appearances can be deceiving.
Westfield mayor hopes $60M stadium project will transform city
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
of America."
CIB rescue plan counts on new hotel being big success
The Marion County Capital Improvement Board’s bailout depends on the success of Indianapolis’ new downtown JW Marriott convention hotel.
Is 2012 Super Bowl wisest investment?
The economic impact of a Super Bowl on the host city is subject to vigorous debate.
Speedway on track to develop tourism year-round
As the 100th anniversary of the Indianapolis Motor Speedway approaches,
the town of Speedway, at long last, is making an aggressive play to turn the world-famous oval into an economic engine that
runs year-round.
Downtown development great for citizens, visitors
The development of shopping, restaurants, museums, public arts and hotels downtown in the past 25 years has made Indianapolis
a vibrant, more interesting place to live—and to visit.
Cultural Development Commission may lose millions used to promote Indianapolis art
A commission that has drawn $12.5 million in grants and public money to promote Indianapolis’ artistic side is awaiting word
on its future.