Council approves ‘Complete Streets’ proposal
An ordinance that would require new and rebuilt streets in Indianapolis to be designed and constructed with multiple users in mind has been passed by the City-County Council.
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CIB plans $5M repair to Capitol Commons plaza
The project is part of a $63.9 million operating budget board members approved for 2013, which is lower than the current year’s budget because it doesn’t include Super Bowl costs or special payments to the Indiana Pacers.
ICVA eyes funds from sale by CIB of downtown’s Ober building
The Capital Improvement Board wants to plug a $2 million funding hole that will open up next year for the Indianapolis Convention & Visitors Association with the expiration of a $5.9 million grant from the owner of the JW Marriott hotel downtown.
Conrad’s top suite gets $350K fine art makeover
The Conrad Indianapolis this year completed a $350,000 renovation of its most luxurious suite, landing the 2,000-square-foot Gallery Suite on an Elite Traveler magazine list of the top 23 hotel suites in the U.S.
Steak n Shake customer traffic up in latest quarter
Biglari Holdings Inc., parent of Steak n Shake, said Friday that customer traffic to the restaurant chain grew 2.2 percent during the quarter ended July 4, boosting same-store sales 2.9 percent.
Indiana Landmarks still trying to save pre-Civil War home
The Cotton-Ropkey House was built in 1850 and features Greek Revival and Italianate features, including six-over-six windows, walnut floors and crown moldings.
U.S. 31 project leaves many living in uncertainty
The new U.S. 31 highway project is designed to make travel faster and safer between South Bend and Indianapolis, but many aren’t happy with the property-acquisition process.
City Market hopes catacombs tours spur interest in redevelopment
City Market officials are giving public tours of the catacombs beneath the marketplace, in the hope that someone will be interested in transforming the 20,000-square-foot space into a restaurant or event venue.
Super Bowl bid might spur new downtown hotel
Downtown is short of the four- and five-star hotel rooms preferred by National Football League sponsors and partners for a 2018 Super Bowl host, but local tourism officials are hesitant to add more hotel space just to secure a second Super Bowl.
Area homebuilding permits jump 21 percent
Builders in the nine-county area filed 373 construction permits in July, a 21-percent increase from the same month last year, according to the Builders Association of Greater Indianapolis.
National, state foreclosure starts on the rise
The number of homes that received an initial notice of default — the first step in the foreclosure process — increased 6 percent in July compared to the same month last year. Foreclosure starts rose 83 percent in Indiana.
Developers taking serious look at former GM site
At least six reputable developers, both local and national, have toured the former General Motors plant near downtown Indianapolis since it closed last year, according to an official trying to market the property. Of those, two are taking a serious look.
Parking-garage connectors receive city approval
The Metropolitan Development Commission’s plat committee has given local developer Flaherty & Collins Properties the go-ahead to include two upper-level pedestrian connectors in its plan to build a five-story parking garage downtown. The garage is part of a larger, $85 million development.
Simon Property directors sued over CEO’s pay
The board of the largest U.S. shopping-mall owner wrongfully authorized a compensation package for CEO David Simon that included $120 million in special stock awards, a Louisiana pension fund claimed in the lawsuit filed Wednesday.
Centre Properties retail center hit with $7M foreclosure suit
Indianapolis-based developer Centre Properties is the target of another foreclosure suit, this one involving Pyramid Place Shoppes, a retail center in a busy shopping area on the city's northwest side.
Five in the running to manage City-County Building
Indianapolis Mayor Greg Ballard’s office is reviewing proposals from five commercial property managers that want a crack at running the City-County Building for the next 30 years.
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.
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.