Americans reluctant to spend on holidays without big deals
Since the recession began in late 2007, stores have had to offer financially-strapped Americans ever bigger price cuts just to get them into stores. But those discounts eat away at profit.
Real Estate
Articles
Gershman co-founder goes solo
A heavy hitter among commercial real estate developers has left the firm he helped found more than 20 years ago, to start his own company, and has taken most of its employees with him.
Home builders race to meet demand
Slow but steady growth in central Indiana’s new-home market has chipped away at the supply of available lots, leaving developers and builders scrambling to keep up with demand.
‘Wedding cake’ house gets new residents after long vacancy, suspected arson
The historic Kemper House on North Delaware Street is no longer vacant, occupied by a couple who would seem to be ideal residents.
Northwest Indiana restaurants part of El Rodeo raids
The raids at La Carreta restaurants in Merrillville and Schererville were part of a larger investigation that targeted El Rodeo restaurants in the Indianapolis area, Lafayette, West Lafayette and Richmond.
$12M apartment project serving homeless vets
The $12 million, 75-unit complex officially opened Tuesday on the city’s near-west side as the first supportive housing facility for homeless veterans.
New Eskenazi hospital offers heavy dose of artwork
At 1.3 million square feet, the new hospital has plenty of room to display art, most of which was purchased with contributions from donors. The hospital is set to open Dec. 7.
Preservationists seek expanded tax credit program
Advocates of historic preservation made a pitch Monday for an expanded tax credit program to help developers invest in older buildings – particularly in small downtowns.
Police raid El Rodeo restaurants in several counties
The Marion County Prosecutor’s office led a multicounty police raid at lunchtime Monday that closed numerous eateries in the El Rodeo Mexican Restaurant chain.
Irvington group’s plan for historic building reduced to rubble
Strong storms that blew through central Indiana on Sunday toppled much of the two-story former post office building, which had withstood the tests of time for 110 years.
CityWay project takes top Monumental Award honor
The Indy Chamber presents the awards that honor significant achievements in architecture and design. Buckingham Cos.’ CityWay also won in the Public Art category.
Study: Downtown can sustain huge apartment boom
About 3,500 rental units are expected to be built downtown by 2017, adding to 4,700 already on the market. But the analysis says there’s no need to worry about overbuilding.
Tipton County won’t stop work at Chrysler plant over permits
Three residents have appealed the Tipton County planning director’s decision to extend without public notice the building permit originally given to Getrag, which stopped construction at the factory in 2008.
Future murky for Carmel’s 2-story development rule
City leaders are embroiled in a debate over the future of Range Line Road, through the heart of Carmel’s redeveloped downtown. Special density zoning rules are intended to create a consistent look and keep residents from bearing the brunt of the city’s significant infrastructure investment. The question is whether it’s working.
Buyer of Illinois Building envisions conversion into upscale hotel
A high-profile local developer has bought the Illinois Building and is considering offers to convert the downtown landmark into a boutique hotel that could be the city’s first five-star lodge.
Stonegate Mortgage profit slows in third quarter
In its first quarter as a public company, the Indianapolis-based residential mortgage firm reported a big year-over-year dip as rising interest rates made the market more volatile.
Indianapolis-area home sales take nosedive
Although area sales are up 16 percent through the first 10 months of the year, the trend has slammed into reverse in recent months amid higher mortgage rates and tighter inventories.
Kite Realty raises $217.3M in secondary share offering
The local rest estate investment firm says it will use some of the proceeds to repay debt and the rest to fund part of its recent $307 million purchase of nine Southern retail properties.
Funding for Mounds Reservoir study moves ahead
The state will provide a $600,000 grant for the next phase in a proposed project to build a $400 million reservoir in central Indiana.
Two projects on tap for Near-North area
One is an affordable senior-housing complex on North Illinois Street and the other is a small mixed-use development on North Meridian Street that could house a medical clinic.