Carmel council wary of $100M Pedcor project
Pedcor Cos. wants to apply for a state tax credit to help fund an upscale $100 million housing and office development in Carmel’s Midtown. But City Council members are holding it at arm’s length for now.
Real Estate
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HAGERMAN: Turbulent times like these not for the faint of heart
Strategic planning for market-sector success in commercial real estate has always been difficult and risky, but the past five years of the recession have only compounded this uncertainty.
Indiana foreclosure prevention program expanding
State officials estimate that about 10,000 Indiana homeowners will get help in making their mortgage payments under an expansion of a federally funded foreclosure prevention program.
Mayor drops plan to privatize City-County Building
City rejects proposals from four private-sector real estate teams and signs a 10-year lease extension with the existing building manager.
Construction begins on $16M downtown apartment project
The property at 800 N. Capitol Ave. is receiving a total rehab from two local developers that are retrofitting the building with 111 apartments.
International Marketplace central to Lafayette Road redevelopment project
The area near Lafayette Square Mall hasn’t exactly been a magnet for redevelopment lately. But city officials hope to change that with a plan to reposition the area as International Marketplace.
Growth in area home sales hits March slowdown
The 1.2-percent improvement last month followed healthier jumps of 17.2 percent in January and 8.1 percent in February.
Finish Line expects sales to leap in Macy’s deal
Becoming the exclusive athletic footwear partner of the department store chain could increase Finish Line’s annual revenue as much as 30 percent, executives say. Finish Line apparel will start appearing in Macy’s this weekend.
Greenwood’s Old Town revival targets sidewalks, traffic flow
Greenwood city officials are in the early stages of a downtown revitalization plan that would begin with an investment of up to $9 million designed to make Old Town more appealing to both vehicle and foot traffic.
HHGregg throws lifeline to employees with underwater options
The company this month filed papers gave option holders the right to exchange their current holdings for new options with an exercise price set at the current market price.
Food trucks find patchwork of rules in northern suburbs
As the food truck industry heats up in Indianapolis, leaders of its fast-growing northern suburbs are starting to rewrite the rules of the road.
Franklin taking bids on historic Old City Hall
Franklin officials are soliciting bids to purchase and renovate the “Old City Hall” building in the downtown area of the city south of Indianapolis. The starting offer is $212,500 for the former U.S. Post Office built in 1936.
Bill to handle abandoned homes still on track
State Sen. Jim Merritt wanted to help an eastside Indianapolis church gain possession of some long-abandoned, derelict houses, tear them down and establish a park. The difficulty in doing so led to a bill that would make such improvements easier.
Power producer to build new HQ in Bloomington
Hoosier Energy will invest about $27 million in 83,000-square-foot facility. The city of Bloomington has approved a 10-year tax abatement for the project.
Area homebuilding permits jump 10 percent
Single-family building permits filed in the nine-county Indianapolis area rose again in March, the ninth straight month of year-over-year increases.
California firm snaps up downtown office towers
Hertz Investment Group has closed on its purchase of the 650,000 square-foot, two-tower Capital Center and its 525-space underground parking garage.
Steak n Shake facing new suit over mandatory menu pricing
Another Steak n Shake franchise owner is suing the company over its controversial practice that prohibits restaurants in the chain from setting their own menu prices, even after a federal appeals court sided with a franchisee.
Existing-home sales market surging 15 percent across Indiana
The housing market has spiked so much in some places that real estate agents are turning to Facebook and going door-to-door looking for prospective sellers because of a shortage of houses for sale.
Roundup: Indy Swirl yogurt coming to Monument Circle
Indy Swirl, the latest offering from South Bend Chocolate Co., is set to open early next month.
Developer closing in on Ironworks anchor tenant
Hendricks Commercial Properties is set to break ground on the $30 million mixed-use development on the southwest corner of 86th Street and Keystone Avenue on Wednesday.