Roundup: Big Woods set for Speedway; Metro Diner joins crowded breakfast market
Big Woods prepares for the race crowd; Florida-based Metro Diner finds Indianapolis appealing; and the newest hotel opens downtown.
Real Estate
Articles
Two Indiana stores on Aeropostale’s closure list
Clothing retailer Aeropostale, once the vibrant epicenter of the shopping mall scene, is seeking Chapter 11 bankruptcy protection and closing 113 of its 739 U.S. stores.
Engineering firm HQ lands on Speedway’s revitalized Main Street
The refurbished Rosner building will get its first and largest tenant later this year when the engineering firm picks up stakes at its Indianapolis headquarters.
More filling: Craft brew craze adds body to real estate market
A study from CBRE says that by summer more than 50 microbreweries will be operating in the Indianapolis area and occupying space that otherwise might have remained vacant.
Developer Alig avoids prison time with plea deal
Prominent Indianapolis developer Cornelius “Lee” Alig, who pleaded guilty to one count of theft and one count of securities fraud, received a four-year suspended sentence Monday morning and was ordered to repay victims $321,000.
Catholic order sells Tipton property that housed nunnery for century
The Sisters of St. Joseph recently finalized the sale of the 38-acre property to the Diocese of Lafayette.
Mainstreet Property sues state over nursing-home building ban
Carmel-based Mainstreet Property Group is suing the Indiana State Department of Health in a legal challenge to the state’s new moratorium on nursing homes and transitional care properties.
UPDATE: Apartments, parking garage planned on Mass Ave adjacent to Athenaeum
The mixed-use project would include more than 65 apartments, retail space and a 229-car garage on what is now a surface lot.
Development in Zionsville tests town’s ‘picky’ ways
A proposed Zionsville development that could bring more single-family homes, apartments and retail to the community’s downtown is wading through the town’s challenging rezoning process.
Kite Realty first-quarter results top analyst forecasts
Indianapolis-based Kite Realty Group Trust on Thursday reported funds from operations and revenue that beat the predictions of analysts.
Indiana Landmarks adds two Indy sites to endangered list
The Ford Motor Co. Assembly Branch and the Southside Turnverein Hall, both in Indianapolis, are newcomers to the list, joining the Rivoli Theatre.
Mass Ave project could aid revival of corridor cut off by interstates
A redevelopment of the prized IPS property along College and Massachusetts avenues would add more housing and retail options along the bustling corridor and push activity farther east.
Brothers Bar & Grill plans downtown location in historic building
The owner of the chain has agreed to buy the 109-year-old building on South Meridian Street to open a second Indianapolis location.
Hart project would further Broad Ripple apartment boom
The developer wants to build 136 units spread across two buildings on Westfield Boulevard property that currently includes Rogers Pools. It’s close to the proposed site of another major apartment project.
Duke Realty sees quarterly profit shrink on lower revenue
Duke Realty Corp. on Wednesday reported a smaller profit on less revenue in the first quarter, but its results still met or exceeded analyst expectations.
City seeks to lead redevelopment of downtown IPS site
The Hogsett administration is in discussions with school administrators to take over decision-making on the 11-acre Massachusetts Avenue property and might even buy the site.
Home sales surge in March as inventory remains tight
Home closings in 13 central Indiana counties climbed 9.2 percent compared with the same month last year, while average sale prices rose 3.4 percent.
Simon raises outlook on strong first-quarter earnings
The nation’s largest mall owner said funds from operations, a key measure of profitability, increased 15.4 percent in the first quarter while tenant rents grew.
Renderings: Broad Ripple apartment project on canal, White River
Plans for the sleek six-story project call for 105 apartments and 5,000 square feet of street-level retail at 6311 Westfield Blvd., where a three-story office building now stands.
152-room hotel pitched for south side of downtown
The owner of Tow Yard Brewing hopes to build the eight-story hotel, which would feature 6,000 square feet of retail and four levels of parking, next to the downtown microbrewery.