2016 TOP STORIES: Locally based retailers send CEOs packing
Three major Indianapolis-based retailers struggling with declining sales replaced their CEOs this year as they tried to improve company financials.
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2016 NEWSMAKER: Mike Cunningham, serial restaurateur
Cunningham in the past seven years has opened Mesh, Bru Burger and Union 50 on Massachusetts Avenue. He launched Vida—where Amici’s Italian Restaurant once stood—in February, and followed up with The Livery on College Avenue in November.
2016 Year in Review: $260M development planned for Mass Ave
Hendricks Commercial Properties' proposal calls for 337 apartments, 339,400 square feet of office space, and 67,225 square feet of retail. It also plans to construct a 132-room hotel and a 41,000-square-foot cinema.
Developer pitching big commercial project by Keystone at the Crossing
Keystone Realty Group wants to rezone a 12.7-acre parcel at the northwest corner of East 86th Street and Keystone Avenue to construct the combination retail-office building.
Are the gay bars in Indianapolis headed for extinction?
Since 2015 at least five gay bars have closed in the city, about half the total. Among the casualties: the venerable Varsity, dating back to the 1940s. Talbott Street, long-known for its drag shows, also closed, as did the 501 Eagle, a bar favored by leather enthusiasts since 1986.
Struggling Finish Line strives to reduce reliance on apparel
Slumping sales of apparel led the Indianapolis-based athletic clothier to report a steep loss in its latest quarter.
Pence could leave state with no energy standards for buildings
Critics say the absence of standards could have negative results for Hoosiers’ energy bills and lead to a “slumlord’s dream” scenario.
Officials want $150K loan tied to Muncie project paid back
The $150,000 loan to a businessman was made more than three years ago as part of an effort to redevelop a Muncie building and create jobs.
Historic Fountain Square saloon, adjacent property listed for $1.2M
The building on Prospect Street was constructed in 1872 and operated as a bar for more than a century. The area is quickly picking up momentum as development extends west from Fountain Square’s core.
Fishers City Council approves agreement for culinary development
The Yard, a 17-acre development by Thompson Thrift Retail Group, would replace the existing Springdale Estates neighborhood on the southeast corner of 116th Street and Ikea Way, just east of Interstate 69.
Real estate agents lick chops as wealthy Trump team moves into D.C.
President-elect Donald Trump is moving to the nation’s capital next month and bringing with him an administration of millionaires and billionaires who are going to need places to live. Many are looking right now.
Short-term leases help small firms grow
Certain companies don’t like committing to the usual five-year-or-longer leases, because they’re not comfortable predicting how much space they’ll need that far in the future.
Hoover steps up Patachou expansion
Running 11 restaurants keeps Martha Hoover hopping. But the matriarch of the Patachou family is adding even more to her plate.
Local Realtors’ group getting first new leader since 1990
The MIBOR Realtor Association on Thursday announced that Shelley Specchio will become CEO on Feb. 1, succeeding the retiring Steve Sullivan.
Local builders see big surge in demand for new homes
Permit filings through November have already exceeded the number filed in all of 2015 and surpass the total of any single year since 2007.
Historic Martinsville buildings part of $8.4M senior-housing project
A redevelopment of the three buildings, led by Flaherty & Collins, will make way for 38 apartment units for residents 55 and older. The project pays homage to Martinville’s history as a mineral-springs hotbed.
Revamp of Broad Ripple Steakhouse building in works, plus office project
The owners plan to renovate the building to attract a new restaurant and demolish the site of a hookah bar to the south to construct an office building.
Fishers neighborhood to be razed for massive ‘culinary’ development
A 17-acre project called The Yard would be located next to Ikea and include numerous lots for restaurants, a culinary incubator and possibly a dinner theater. It could cost $40 million to $60 million to develop.
Three area Sears stores set to close in January
The stores are all operated by Sears Hometown and Outlet Stores Inc., a struggling public company that was spun off by Sears Holdings Corp. in 2012.
Owner of historic Rivoli Theatre hits revival milestone
The Rivoli Center for the Performing Arts says it has raised more than $500,000—hopefully enough to cover the cost to replace the rest of the structure's roof.