Glick philanthropy buys 7 affordable-housing projects for $56M
In addition to two Indianapolis communities, the acquisition involved properties in Bedford, Bloomington, Lebanon, New Albany and Shelbyville.
Real Estate
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Scott Wise plans first Indianapolis location for Roots Burger Bar
After selling the Scotty’s Brewhouse chain in 2016, Wise got back into the restaurant game in 2019 with Roots Burger Bar. But he says he expects the third location, slated for Indianapolis’ northeast side, to be the last.
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Futuro plans Grumps Slice Stop as pizza partner of Black Circle Brewing
Grumps will replace Elena Ruz Cuban Cuisine, the sandwich shop that opened with Black Circle as part of the Refinery 46 complex in December 2016 but announced its closing on Saturday.
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Onyx+East plans $3.5M townhome project in heart of Fountain Square
The project, called FSX—shortened from “Fountain Square Ten”—is planned for a narrow site at 1003 Prospect St., which currently houses two drive-thru ATMs for PNC Bank. The units each will have a two-car garage and rooftop deck.
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Area homebuilders see third straight monthly drop in permit filings
The recent slump has slowed what had been a torrid pace for the local home-construction industry. Permit filings are still easily on pace to have their biggest year since 2005.
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Articles
Supply chain will be holiday grinch for local retailers, shoppers
But the pure randomness of shipping problems and the unpredictability of consumer demand make it difficult to predict exactly what will be in short supply.
Carmel firm to build 200 apartment units for lower-income residents on Indy’s south side
Pedcor Companies plans to spend $50 million to develop its City Heights project, which will target individuals and families making up to 60% of the area’s median income.
Target to keep stores closed on Thanksgiving for good
Target is the first major retailer to make such a permanent move during the pandemic, and its decision could push other retailers to follow in its path.
IBJ Podcast: Martha Hoover (Part 2 of 2) on how the restaurant industry is broken
Hoover—known for restaurants including Cafe Patachou, Public Greens and Napolese—tells host Mason King that the industry has historically put too much emphasis on quantity and price at the expense of quality, as well as the people making the food.
Under-the-radar developer poised to redefine Lafayette Square neighborhood
Fabio de la Cruz has a plan to transform Lafayette Square Mall and several adjacent properties into a multicultural hub, including a concert center, movie theater, hotel and multifamily housing.
Milhaus selling portfolio of local apartment properties for $82M
Totaling 331 units, the apartment complexes are located in Meridian-Kessler, Fountain Square and downtown.
Area existing-home sales tumble 8.7% as prices escalate
Sales of existing homes in central Indiana fell for the third time in four months in October amid skyrocketing prices and tight inventories.
New Big Woods restaurant announced for Fashion Mall
Shoppers can expect the Brown County-based restaurant to open in the Fashion Mall at Keystone in spring 2022.
CVS Health to close hundreds of drugstores
The company said Thursday that it will close about 300 stores a year for the next three years, nearly a tenth of its roughly 10,000 retail locations as it reduces store count density in some places.
Tech firm adding coworking space as part of $27M refresh to former Marsh HQ
Knowledge Services Inc. acquired the five-story building at 9800 Crosspoint Boulevard—west of I-69 and north of 96th Street—in March 2020 for about $9 million.
Dance Kaleidoscope seeks donors for Circle City Industrial Complex home
Executive Director Kim Gutfreund, who’s led Dance Kaleidoscope since June, and long-running artistic director David Hochoy announced Tuesday a $2 million capital campaign.
Eight firms team up on $100M project along Monon Trail with housing, grocery, other retail
Located in the long-struggling Martindale Brightwood neighborhood, the expansive Monon 30 project in part would be intended to boost an area now littered with the remnants of past industrial uses.
Southern restaurant chain plans downtown Indy location
Tupelo Honey Southern Kitchen & Bar, a growing chain of restaurants with a menu that includes chicken and waffles, sweet potato pancakes and fried green tomatoes, is set to open an eatery in CityWay.
IBJ Podcast: Patachou’s Martha Hoover on surviving the pandemic, prepping to expand (part 1 of 2)
Hoover tells host Mason King—in the first of a two-part interview—that Patachou is now “very healthy,” in part because she and her leadership team started making some tough decisions pre-pandemic to streamline and become more efficient.
Millennials, Gen Z put pets first in search for housing
Providing pet accommodations has become a top priority for apartment complexes seeking younger tenants, and new-home construction is also seeing an uptick in pet-friendly perks.
Trio of industrial buildings planned near Ruoff Music Center
A Carmel-based development firm plans to spend $70 million or more to turn agricultural fields in Noblesville into the site of three industrial buildings called Saxony Industrial Center.
Developer plans $200M-plus revitalization project for Lafayette Square
Plans for the shopping center property call for a new name and multiple new uses, including apartments, hotel, sports facilities, concert center, a police station and a public trail and canal.
Plans for 16-story downtown Kimpton hotel project still ‘active,’ developer says
Loftus Robinson confirmed plans this week to give up development rights to the unfinished Wilshaw hotel project in Speedway after numerous delays, but company Principal Drew Loftus said the firm’s redevelopment plan for a tower in downtown Indianapolis is still on.
Real estate tech startup Shaker lands $2M in seed funding
Shaker, which offers a platform for real estate agents and clients to communicate with each other, was launched last year by Indianapolis venture studio High Alpha.