Strapped schools are wheeling and dealing with municipalities
State-mandated tax caps are putting additional pressure on public budgets—and spurring local governments to take unusual steps to help their cash-strapped schools.
Real Estate
Articles
1960s-era city zoning code gets overhaul
City planners hope a proposed overhaul of the Indianapolis zoning code that’s just a few weeks from its public unveiling will make the city greener and more bike- and pedestrian-friendly while easing the path to high-density, mixed-use development.
Grab-and-go meals on menu for Patachou owner
Local restaurateur and entrepreneur Martha Hoover wants to open kiosks offering healthy meals on the go in public places, including along the Monon Trail.
Apartments no longer part of plans for Virginia Avenue lot
Reverie Estates bought the land where Milhaus Development had wanted to build a four-story mixed-use development. Reverie instead is planning a fresh-food market surrounded by a food and fashion truck park.
Indiana Limestone gets back to work under new owner
Indiana Limestone Co. technically closed and laid off all its workers earlier this month to fulfill a bankruptcy plan, then a few days later reopened with the new owners and rehired employees.
Existing-home sales sink for eighth straight month
Home-sale agreements dropped nearly 20 percent in the nine-county Indianapolis area in April. Home prices continued to rise as inventories shrank.
Homebuilders see third straight month of rising demand
On a year-over-year basis, home-construction permit filings in the nine-county area have risen in 13 of the last 16 months.
U.S. retail sales show scant April increase
The Commerce Department said Tuesday that seasonally adjusted retail sales rose just 0.1 percent in April. Excluding autos and gasoline, retail sales fell 0.1 percent last month.
UIndy seeks city OK for $30M health sciences center
The University of Indianapolis is looking for a developer to finance the project, in which the college would be the main tenant. Construction on the four-story building could start in late summer.
Luxury Clearwater apartment complex on market
82 Flats, which opened last year and is 95-percent occupied, could fetch $35 million for its developer, Cityscape Residential, formerly known as Hearthview Residential.
Mortgage rates sink to 2014 low
Warmer weather has yet to boost home-buying as it normally does. Rising prices and higher rates have made affordability a problem for would-be buyers, while many homeowners are reluctant to list their properties for sale.
Feds probe whether HDG Mansur took millions from client
HDG Mansur has divulged in court documents that it’s the target of a federal criminal probe for allegedly skimming millions of dollars from a client.
Up-and-comer molds city’s justice center deal
David Rosenberg, 28, leads Mayor Greg Ballard’s effort to build a new jail and criminal courts for Marion County, which could cost as much as $400 million, all with no new revenue.
Permit revoked for controversial Geist billboard
Neighborhood residents convinced a city zoning board to revoke a permit that allowed the splashy sign with rotating messages to be erected at 79th Street and Fall Creek Road.
Vacant downtown building called critical to proposed redevelopment
The Indianapolis Historic Preservation Commission says it does not support Milhaus’ plan to demolish an 1890s structure on North College Avenue to build a five-story apartment building with 32 units.
Roundup: Boutique hotel, Sangrita, Tom+Chee and fast-fire Coalition Pizza
A nine-room hotel along the Monon Trail in Broad Ripple has opened, while another downtown-area stalwart has closed.
Whole Foods confirmed as Market Square anchor
The specialty grocery chain will occupy 40,000 square feet on the ground level of the $81 million development slated to be built on a portion of the former Market Square Arena site.
HHGregg launches rebranding effort to improve sales
The electronics and appliance chain has unveiled a new logo and advertising spots, in addition to improvements to its website and delivery service, as it attempts to keep pace with competitors.
Office Depot to close 400 stores nationwide
Office Depot has at least seven stores in the area, according to its website, including three locations in Indianapolis and single stores in Carmel, Anderson, Greenwood and Avon.
City Dems propose $16 million more for road repairs
Indianapolis City-County Council Democrats want to spend $16 million more on emergency road work. The Democrats oppose Republican Mayor Greg Ballard’s plan for a $150 million bond issue and instead want to tap general and special funds.