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DePauw, Ball State, Purdue buildings among top AIA design winners

Three university projects, two of which contain green-building elements, dominated the most recent design awards presented
by the American Institute of Architects Indiana chapter. Of the four award winners, three involved college buildings: the
Janet Prindle Institute for Ethics at DePauw University, the Neil Armstrong Hall of Engineering at Purdue University, and
the Straw Bale Eco Center at Ball State University.

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ConsensusDOCs an option for construction contracts

The most heavily utilized family of standard form contracts is published by the American Institute of Architects. However,
contractors routinely criticize the AIA forms because
of a perceived bias in favor of the architect.

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More than the Whistle Stop

The former Whistle Stop Deli at 901 East 64th St. isn’t the only building along the Monon Trail the city’s parks department is…

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Fishers tables $100M project

An Ohio developer and the Town of Fishers have agreed to cancel a 2007 development agreement that called for a $100-million mixed-use project featuring 250,000…

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3Mass taking shape

The luxury condo and retail project called 3 Mass is taking shape as sales pick up speed. Buyers have snapped up 26 of the 44 units, including $8 million in sales in September and October, said Todd Maurer of lead…

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The Property Lines vote

To keep this post topical, I’ll start with a link to this week’s Real Estate Weekly. The news has been slow lately, but my colleague Chip Cutter still managed to dig up some good nuggets. The real…

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Update: City OK with abatement

The city has decided to support a request by Buckingham Cos. to abate part of the additional tax liability stemming from its $2.5-million renovation of…

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What to do with the old St. Francis

Beech Grove is working on a redevelopment proposal for its St. Francis Hospital campus. The tentative plans call for a mix of office, senior residential and possibly retail….

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M&I Plaza seeks rebound under different ownership: Struggling downtown tower is about 70-percent vacant

Struggling M&I Plaza once again can become a prominent office tower, real estate experts contend, but only if the next owner atones for its predecessor’s mistakes. Local real estate developer Paul Kite Co. had emerged as a top contender to buy the struggling downtown property from Maryland-based CapitalSource Inc., which assumed ownership of the 28-story building in June after foreclosing on a $5 million mezzanine loan. Paul Kite didn’t respond to an e-mail request for comment. But sources say Kite’s…

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VOICES FROM THE INDUSTRY: Delays to development projects cost everybody money

Here’s a common scenario: A developer gets approval on zoning and planning permits to build a business on a piece of property. The business has signed an agreement to either lease or buy the building once it’s completed. The owner of the business then begins making plans to open the new facility. The developer, meanwhile, goes to work to prepare the property for construction, which includes everything from figuring out the utilities, access road, curbs, sidewalks and landscaping. Working with…

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VOICES FROM THE INDUSTRY: Benefits to buying or leasing in a troubled economy

As real estate professionals well know, a troubled economy is making it harder to negotiate and close deals. However, buying or leasing real estate in a troubled economy also provides great opportunities for buyers and tenants. Real estate brokers often talk about it being a buyer’s and renter’s market and focus on selection and price; however, there are several other benefits when buying or leasing commercial real estate in a troubled economy. These additional benefits include tax abatements or credits…

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Kite Realty goes on defensive: Local developer says stock sale should help it through tough times

Expecting a rocky 2009, locally based Kite Realty Group Trust sold nearly 5 million new shares in October to quickly raise almost $48 million in cash. The retail real estate investment trust saw its stock price tumble after the $10.55-per-share offering, from a close of $11.19 the day (Oct. 2) it announced the sale to $7.44 by Oct. 10. The deal dilutes existing shareholders, but company officials say it puts Kite in a stronger cash position to pay down debt…

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VOICES FROM THE INDUSTRY: Property tax reform will change development landscape

As the country faces the “subprime crisis” and its effect on the availability of financing, we know local real estate markets have seen brighter days. Fortunately, we also know this crisis will pass. If you are a real estate developer or land-use professional, there will be many opportunities ahead. However, it is important to consider that the regulatory landscape in Indiana relative to land-use development will not be the same as the one you knew prior to the current market….

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Surviving the season: Retail landlords worry that tight holiday budgets could doom some retailers

Retailers usually get that Christmas-morning feeling of anticipation for the holiday shopping season. This year, many are just hoping to survive. As consumers tighten their spending to cope with higher prices and shrinking savings, stores big and small are feeling the pinch. Some stores, including Linens ‘n Things, have filed for bankruptcy and plan to liquidate. Others, like Circuit City, still are fighting for survival. The holiday shopping season is looking more like a make-or-break period than the annual windfall-an…

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