$28M golf facility in works for downtown Indianapolis
The venue is expected to be a franchise of Flying Tee—a competitor of Topgolf, which opened a venue in Fishers in 2017.
Real Estate
Articles
Massachusetts, Broad Ripple avenues to reopen to traffic after Labor Day
Broad Ripple Avenue and Massachusetts Avenue were closed in May as part of the Dine Out Indy initiative to create more space for outdoor dining during the pandemic.
Local firm plans $8.5M senior apartment project on near-east side
Indianapolis-based TWG Development expects construction to begin within 15 months if it can offset costs by landing affordable housing tax credits.
Seawalls shored up to protect 2 historic World’s Fair homes in northwest Indiana
The Wieboldt-Rostone House and the Florida Tropical House were featured in the 1933 World’s Fair in nearby Chicago but were moved after the fair closed to lakeside property that’s now part of the Indiana Dunes National Park.
Third Whitestown I-65 interchange to give developers blank canvas
The launch of a $63 million project to add an interchange and rework another is likely to fuel a new blitz of commercial development in the state’s fastest-growing town.
Memory Bank: Illinois Street theater went through several iterations
The Lyric Theatre opened in 1906 at 121 N. Illinois St. with a small projector and just 200 folding chairs. Six years later, the Central Amusement Co. spent $75,000 to rebuild the theater, expanding its capacity to 1,400.
Prodigy Burger Bar’s growth plans include two former Stacked Pickle sites
Prodigy Burger Bar, which is under new ownership, is set to open its second Indianapolis-area restaurant this weekend, plus two more by the end of the year. Long-term plans include several more locations.
Carmel panel seeks more review for planned apartments, OKs age-restricted community
The Carmel Plan Commission sent a proposed Old Meridian District apartment project to a committee for further review. It also forwarded an age-restricted neighborhood at Keystone Parkway and 136th Street to the city council with a favorable recommendation.
Chicago-based pizza chain Lou Malnati’s to open in Carmel this fall
The company also plans to open a location in Broad Ripple next year, but the opening date for a previously announced 86th Street location is uncertain.
Victoria’s Secret closures claim at least three stores in Indianapolis area
At least three Victoria’s Secret stores at some of the area’s largest shopping malls have closed permanently as part of the parent firm’s plan to eliminate 251 stores in North America this year.
Central Indiana existing-home sales rise for first time in three months
Sales of existing single-family homes jumped dramatically in central Indiana in July, despite the pandemic, soaring prices and a huge plunge in inventory.
Housing developer buys prime 96th Street parcel where ambitious project faltered
In the 2000s, Centre Properties envisioned building a $500 million project called RiverPlace near 96th Street and Allisonville Road. Another developer just acquired the land but says its plans aren’t clear yet.
Walmart has huge quarter as Americans go online for pandemic supplies
With unemployment in the U.S. hitting frighteningly high levels, Walmart’s ability to deliver low-priced food, clothing and electronics strengthened its structural advantages.
Carmel design center adding Le Peep as tenant
The group that owns and runs Le Peep restaurants in central Indiana is planning an eighth location.
Library planning to buy site of former school for new $10.2M Glendale branch
The Indianapolis Public Library plans to acquire land from the Washington Township school district as part of a years-long effort to build a new Glendale-area branch to replace the one in Glendale Town Center.
Rapid growth of e-commerce likely to fuel industrial-market momentum for years to come
The planned, 2.2-million-square-foot Walmart distribution center is one of a dozen warehouses exceeding 900,000 square feet to enter the Indianapolis market since 2011.
Distribution building sells for $28.5 million
Pennsylvania-based Exeter Property Group has acquired a 604,000-square-foot speculative industrial property at the Fishback Creek Business Park in Whitestown.
Scannell developing giant buildings
The firm has projects underway in Memphis, Atlanta, Chicago and Hartford, Connecticut, marking the first time Scannell has had this number of massive projects underway simultaneously.
Ratio principal Bill Browne talks Pan Am Plaza project
Ratio is architect for the $550 million project by Kite Realty Group Trust that includes a Signia Hilton, an expansion of the Indiana Convention Center and—eventually—a second, 600-room Hilton-branded hotel.
Methodist Hospital expansion exposes tax tensions
The redevelopment will exacerbate a challenge already weighing on Marion County: huge swaths of land off the tax rolls because they are owned by not-for-profits and are being used for purposes related to the groups’ missions.