Top priority for new IDI boss: Fixing Georgia Street mess
Sherry Seiwert has plenty on her plate as she takes over this week as president of Indianapolis Downtown Inc., but her first priority should be a turnaround plan for Georgia Street.
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City to consider connectors for downtown garage
The developer of a five-story parking garage downtown is seeking city approval to build two upper-level pedestrian connectors to offer easier access to the garage, especially for employees of nearby OneAmerica Financial Partners Inc.
Indianapolis hotels see sharp increases in room revenue
The Indianapolis hotel market is poised to record a 10.8-percent increase in revenue per available room in 2012, according to projections from PKF Consulting. The city's hosting of the Super Bowl gave the market a huge, early lift.
Kite reports larger quarterly loss, higher revenue
The Indianapolis-based real estate investment trust attributed much of the $2.7 million loss to $1.8 million in interest and depreciation expenses on some of its properties. Revenue grew to $25.1 million.
Star‘s labyrinth of aging buildings complicates sale, reuse
Local real estate pros say finding a reuse for the Indianapolis Star's HQ will be tricky. The newspaper is selling its labyrinth of buildings at 307 N. Pennsylvania St., which have multiple floor levels, narrow hallways and a basement built to house printing presses.
Showdown escalates in City-County Council over TIFs
Redevelopment of the Massachusetts Avenue fire station could remain in limbo for the foreseeable future, as Mayor Greg Ballard and council Democrats enter a standoff over tax increment financing districts.
‘Creating a vision’ is job one for IDI’s new president
Sherry Seiwert, former executive director of the Indiana Housing and Community Development Authority, begins Aug. 6 as president of Indianapolis Downtown Inc., the group that charges itself with developing, maintaining and promoting the heart of the city.
HHGregg posts quarterly loss on poor TV sales, as expected
Disappointing sales at stores open at least a year dragged Indianapolis-based HHGregg Inc. to a rare quarterly loss, the appliance and electronics retail chain said on Thursday.
On the market: Former firehouse turned home
The owner of the former Indianapolis Firehouse No. 29 at 2302 Shelby St. has put the property up for sale with an asking price of $175,000.
Revamped Pan Am Plaza on track for October debut
Workers have ripped out the old fountain and crumbling bricks of Pan Am Plaza, making way for a waterproof membrane and new stone pavers in a Kite Realty Group Trust project to stabilize the plaza until it can pull off a redevelopment.
Fashion Mall landlord suing tenant over unpaid rent
A division of Simon Property Group Inc. is suing Brisbane, Calif.-based Bebe Stores Inc., claiming the women’s clothing retailer owes it $64,000 in unpaid rent.
Star putting downtown headquarters on market
The Indianapolis Star plans to sell its headquarters building at 307 N. Pennsylvania St. and seek modern office space elsewhere downtown, the newspaper said Friday afternoon.
Beech Grove mayor starts process to form CDC
Mayor Dennis Buckley on Friday requested the establishment of a community development corporation with a signed proclamation, which will be presented to the city’s development commission for consideration. He hopes to have it operating within the next month.
Fresh renderings: $23M Millikan on Mass Ave
Check out brand-new renderings of a $23 million residential and retail development planned for the land surrounding the Barton Tower apartments along Massachusetts Avenue between Michigan and East streets.
CityWay sells out first phase of apartments
Developer Buckingham Cos. has taken deposits for all 100 apartments in the first phase of its $155 million CityWay project at Delaware and South streets in downtown Indianapolis.
Duke takes smaller loss despite falling revenue
Indianapolis-based Duke Realty Corp. on Wednesday reported a second-quarter loss of $28.5 million, slightly smaller than a loss of $29 million in the same quarter of 2011.
Profit stagnates at French firm with Simon Property ties
Klepierre SA, the Paris-based shopping-center landlord that’s 27-percent owned by Simon Property Group Inc., said first-half profit was little changed as disposals curbed rental income growth.
Stock Yards Bank finalizing Di Rimini makeover plans
The bank that owns the infamous Di Rimini apartment project is offering more details about its plans to overhaul and finish the development at 733 N. Capitol Ave.
Simon boosts dividend, outlook after strong second quarter
The Indianapolis-based mall giant is benefitting from robust demand for space from retailers in the United States. It's also ratcheting up growth by investing overseas.
Suburban office market gaining ground on downtown
Figures from Cassidy Turley showed the suburban market growing by 247,000 square feet while downtown contracted by 68,000 square feet in the first half of the year.