Parent company of Saks Fifth Avenue to buy Neiman Marcus for $2.65B
The new entity will be called Saks Global, creating a luxury powerhouse at a time when the arena has become increasingly fragmented with different players.
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Developer sues Lebanon for tech park fallout, citing LEAP District as city’s priority for water use
South Carolina-based RealtyLink is suing Lebanon for more than $25 million, alleging the city withdrew incentives after the project was delayed by the city’s inability to service the park with water.
Analysis finds growing gap in Indiana’s housing affordability
The findings, from an annual report jointly published by the National Low Income Housing Coalition and Prosperity Indiana concluded that Indiana dropped from 43rd to 34th in terms of affordability between 2021 and 2024.
Report: Indiana has lost 350K acres of farmland, but productivity rises
The Indiana General Assembly passed House Enrolled Act 1557 last year, tasking the Indiana State Department of Agriculture to estimate the amount of farmland lost—as well as the cause of it—from 2010 to 2022.
Owner of 27-story downtown apartment tower faces $101M foreclosure lawsuit
Since it was completed in 2018 at a cost of $120 million, the tower has become one of the city’s priciest residential properties, with an average rent of $2,365 per month, or $2.58 per square foot.
FAQ: What’s the deal with a potential Indianapolis MLS ownership group?
While speculation abounds on the potential involvement of the Simon family, in particular, Indianapolis Mayor Joe Hogsett has been silent about his knowledge of who might be part of the deal.
City views soccer stadium as catalyst for growth
With funding plans for a proposed soccer stadium clearing another hurdle this week, Indianapolis leaders, developers and brokers are beginning to evaluate the impact such a project could have on the near-east side of downtown.
Boone eco-devo group furnishes $622K in grants to upgrade historic buildings in Lebanon
Among the recipients are the Lido Building, formerly a movie theater that opened in 1914 as the Olympic Theatre, and the Collier’s Corner Building, which was constructed in 1883. The Eichman Exchange Building was rebuilt in 1938 following a fire.
Walgreens en route to closing hundreds—maybe thousands—of stores
CEO Tim Wentworth told analysts Thursday morning that “changes are imminent” for about 25% of the company’s 8,600-plus stores nationwide, which he said were underperforming. Walgreens counts more than 100 stores in central Indiana.
City’s strategy for excavating graves on site of Henry Street bridge project shifts to archaeology-first approach
The city has hired a Canadian company that helped relocate remains during the Indianapolis International Airport terminal project.
New restaurant to take over Marco’s site at 54th and Keystone
The Shadow Lounge will open in a building that was previously occupied by Marco’s Restaurant & Lounge and Capri Italian Restaurant across six decades.
IBJ Podcast: Sushi eatery owner expanding in Mass Ave area with new restaurant, refreshed Metro
Bill Pritt digs into the origin story of Mass Ave’s Forty Five Degrees and the real estate acquisition—and yogurt shop—that helped him succeed. Plus, he serves up details from his plans for Harrison’s Restaurant and the Metro.
IU trustees give OK for 4,500-seat arena in downtown Indianapolis
Indianapolis-based USA Track & Field, a national governing body for the sport, will also move its headquarters to the new building.
Rural Zionsville residents aim to preserve way of life
Bradley Ridge is Henke Development Group’s third major residential development in Zionsville after the company reshaped Westfield with its Chatham Hills and Grand Park Village projects.
Future of Diamond Chain site unclear under city’s approach to remains, stadium
The Hogsett administration says no development can proceed on the property unless the owner agrees to treat human remains found there in a way that is consistent with the wishes of a community group.
Ambrose Property Group building $75M industrial park in Whitestown
Two 233,000-square-foot buildings are under construction at the site, while a 248,000-square-foot building will be developed as a build-to-suit project.
Purdue takes next step to develop $187M mixed-use project for new downtown Indy campus
Purdue officials say the Academic Success Building “will evolve with the needs of experiential education, accommodate courses that would not otherwise be offered with existing space, and provide on-campus housing.”
Mexican restaurant planned at new development in Fishers District
Arechiga Restaurant Group is set to open Piedra in Fishers in a 5,000-square-foot space with an outdoor patio area at The Union at Fishers District.
Dollar Tree looking at options for Family Dollar, including possible sale
Dollar Tree acquired Family Dollar nearly a decade ago for more than $8 billion after a bidding war with rival Dollar General and has had difficulty incorporating Family Dollar into its business.
Yolk breakfast restaurant closes in Salesforce Tower
Owner Taki Kastanis cited the inability to “revitalize” the restaurant after the pandemic for the closure. Two other Indianapolis Yolk locations remain in operation.