Indianapolis planning to spend $190M to update public facilities
Each project would range from $7 million to as much as $40 million, with funding coming from bonds tied to an expiring pension levy.
Redevelopment
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Oregon-based drive-thru coffee chain coming to Indy market
The Human Bean, which opened its first shop in 1998, is coming to Westfield. The local franchisee said he’s scouting Hamilton County for more sites. Also this week: Noble Roman’s, Big Woods and more.
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Cash-strapped Indy Parks seeks creative financing for community center
A deal to build a new family center at Broad Ripple Park could be just the first of several privately funded projects considered by the park system.
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Indianapolis Zoo secures 28 acres of land for expansion
The parcels, which are south of West Washington Street and east of South Harding Street, are expected to be turned into permanent parking lots and additional zoo exhibits in the coming years.
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One of Carmel’s oldest neighborhoods fighting to stave off redevelopment
Homeowners in Johnson Addition, which was built in the late 1950s and early 1960s, say their neighborhood is charming and one of the few affordable neighborhoods left near Carmel’s downtown—and they want it to stay that way.
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Articles
Fishers council narrowly OKs rezoning to allow affordable neighborhood
The approval will allow Hamilton County Area Neighborhood Development Inc. to develop 11 affordable, for-rent homes at the southwest corner of 141st Street and Cumberland Road.
EPA proposes pollution cleanup of Delco plant site in Kokomo
Contaminated soil and groundwater at the former General Motors plant would be cleaned up under a plan to help open up the land for redevelopment.
Carmel council clears way for hotel, apartments at Clay Terrace
Already, the project is having an impact on existing businesses, including Village Home Furniture and Clocks, whose owner said it plans to close the store this month, rather than move.
Fishers firm to redevelop part of 96th Street Marsh into new headquarters
Memory Ventures, a local media digitization company, is taking over the redevelopment of a former Marsh Supermarket in Fishers. The site previously slated for partial demolition will now be turned into the growing company’s new headquarters.
$50M mixed-use development in works for downtown Noblesville properties
Ohio-based Republic Development and Carmel-based J.C. Hart have entered into an agreement with Hamilton County to buy a parking lot and develop a 226-unit apartment building with retail space and a 350-space parking garage.
Real estate pros bullish on Diamond Chain site
The planned closing of the 102-year-old factory in the southwestern corner of downtown likely will throw into play a nearly 18-acre site that real estate experts say would be attractive for myriad uses.
Hotel planned for King Cole building downtown
Interior demolition appears to have already begun, and several tenants told IBJ that they have either already moved out or have been asked to vacate by the building’s owner.
Should this building be saved?
Historic preservationists and midtown neighborhood leaders don’t want to lose the Drake apartment building that its owner, The Children’s Museum of Indianapolis, plans to raze.
West Elm hotel no longer part of Bottleworks development
Plans to open a West Elm hotel in the Bottleworks District have been scrapped, but the developer says it still intends to include a hotel in the massive redevelopment project on Mass Ave.
Owners hope to turn former Marsh store into self-storage facility in Noblesville
The self-storage facility would be part of a larger redevelopment project that would add office and retail buildings to the property.
Could land trusts keep housing affordable, avoid gentrification?
In a quest to create permanently affordable housing, about 25 Indianapolis community groups and development corporations have formed the Community Land Trust Coalition.
East 10th Street pursues status as arts district; some neighbors brace for change
A new, $4.3 million Lilly Endowment grant is poised to spark the transformation of a one-mile stretch of East 10th Street into a hotbed for the arts.
Struggling neighborhoods want their ‘own renaissance’
The tension between a desire for investment and an inherent distrust of it is occurring across disadvantaged Indianapolis neighborhoods.
LISC facade grants aim to boost small businesses through beautification efforts
The program has awarded more than $3.1 million to Marion County businesses since 2004—which has leveraged more than $10.6 million in property owners’ investment.
1 in 5 Indianapolis residents lives in poverty. And many areas are getting worse.
Median household incomes have dropped in a full third of Indianapolis ZIP codes since 2000. Inequality is growing across the city.
Land bank successor aims for openness
A startup not-for-profit has begun returning vacant and tax-delinquent properties to the city’s tax rolls, stepping into a void left by the disgraced Indy Land Bank.
State park nears deal to acquire GM land for concert venue
The White River State Park intends to buy part of the former General Motors stamping plant site and might build a concert venue there to replace The Farm Bureau Insurance Lawn.
Groundbreaking set for downtown’s Market Square skyscraper
Executives of Flaherty & Collins Properties will join city officials Wednesday to turn dirt on the site, kicking off construction of the $121 million, 28-story apartment project anchored by a Whole Foods store.
Cummins reveals design for new distribution HQ
The building, which will include a 10-story office tower with 15,000 square feet of retail on the first floor and significant public green space, will be built on four acres where Market Square Arena stood.