City Market proposals: Microbrewery, bicycle hub, agriculture showcase
Six groups are vying to lead a redevelopment effort for the struggling Indianapolis City Market. Check out summaries of each
of the proposals.
Cory Schouten
Articles
Around town roundup: Red Lion, Pat-A-Cakes, Firehouse
A new English-style pub and restaurant is planned for Fountain Square, a new bakery is coming to Fishers and Firehouse Subs plans to open its second Indianapolis-area location near 86th Street and Michigan Road.
Hotels spark expansion of downtown skywalk system
Two walkways that will connect to the new Marriott Place hotel will extend downtown’s network of skywalk and underground pedestrian
paths to a total of 12 hotels with more than 4,700 rooms–the most of any downtown in the United States.
Shiel Sexton plans $50M project near Methodist Hospital
The local construction company is drawing up plans for a mixed-use project with offices, a parking garage and retail space
on several parcels it owns near Capitol Avenue and 16th Street.
Lender alleges Lauth insiders backdated loan documents
The largest creditor for Lauth Group Inc. has asked a bankruptcy judge to appoint a trustee after evidence in a related case
suggested Lauth insiders may have backdated documents to thwart creditors.
Developer plans expansion of Riley Towers apartments
The owner of downtown’s Riley Towers apartments is working on plans for a 5-story expansion at 225 E. North St. that would
add 54 apartment units and more than 4,000 square feet of retail space.
Cincinnati-area builder Fischer expands to Indianapolis
Home builder hopes to sell as many as 200 houses in region this year. Fischer, which entered the Columbus, Ohio,
market in 2008 after buying subdivisions from retreating builders, is using the same strategy to establish a foothold in Carmel,
Westfield, Zionsville and Avon.
Steak n Shake CEO buys more shares
Steak n Shake Co. CEO Sardar Biglari bought $290,000 worth of stock in the Indianapolis-based burger chain last week in another
big bet
the company’s shares are undervalued.
Jones Lang LaSalle lures top industrial broker from CTMT
One of the city’s most prolific commercial real estate brokers is leaving the local office of Colliers Turley Martin Tucker
to join Chicago-based Jones Lang LaSalle.
Shoppers World taking former Target space
Discount department-store chain Shoppers World has signed a deal to take over a shuttered Target store on the south side.
Brokerage CTMT rebranding, dropping Tucker name
The city’s largest commercial real estate brokerage is breaking from Colliers International and dropping Tucker from its moniker
for the first time in more than 90 years.
Ashley Furniture HomeStore closing Carmel outpost
The Ashley Furniture store in Carmel will close later this month after the owner and landlord failed to come to terms on a
lease renewal.
Flying Cupcake expands, Bobby Joe’s shuts down
The Flying Cupcake Bakery is opening a new location along Mass Ave next door to Scholar’s Inn downtown. Plus, more restaurant
news!
Fairgrounds’ digital billboard is exception to county ban
Clear Channel Outdoor is building Marion County’s first full-size digital billboard along Fall Creek Parkway on the
grounds of the Indiana State Fair. The first message might as well be: Take that, Indianapolis!
Steak n Shake slashes restaurant spending as CEO hoards cash
From 1999 to 2008, Steak n Shake Co. spent an average of $55 million a year to add dozens of restaurants and buy equipment
for existing
ones. In 2009, the locally based
chain spent just $5.8 million.
Kidding aside: Morty’s Comedy Joint closing
Morty’s Comedy Joint is slated to close for good on Jan. 4 after a four-year run at 3625 E. 96th St.
Top real estate stories of 2009
A major downturn in commercial real estate was inevitable, but the depths have surprised even seasoned industry veterans.
Trustee chooses $20.5 million Buckingham plan for old YMCA
The Center Township Advisory Board has picked Buckingham Cos. to redevelop a 2-acre property it owns
at 860 W. 10th St. near the IUPUI campus.
Trustee picks Buckingham to redevelop former YMCA site
Locally
based Buckingham Cos. has won the right to redevelop a 2-acre property at 860 W. 10th St. near the IUPUI campus.