Who wants a piece?
A Michigan-based bakery and cafe concept plans to open as many as six new restaurants in Indianapolis, beginning with a location at U.S. 31 and Stop 11 Road. Grand Traverse…
Cory Schouten
Articles
Local name disappears from tower
Milwaukee-based M&I Bank didn’t waste any time erasing the First Indiana name from the 31-story tower where…
The demise of Damon’s Grill
The Indianapolis restaurateur who owns D’Vine Wine Bar and The Melting Pot has closed his two remaining Damon’s Grill locations, at Southport Road and I-65, and along State Road 37 in Martinsville. Bennet…
Nature Conservancy buys blighted industrial site
The Nature Conservancy has agreed to buy a blighted industrial property on the eastern edge of downtown to develop a new Indiana
headquarters. The $4.5 million project–which will revitalize or replace the former home of Nemec Heating & Supply Co. at
614 E. Ohio St.–should provide another boost to an area that has been bulking up on development, mainly residential.
Conservancy plans ‘green’ HQ
The Nature Conservancy has agreed to buy an old industrial property on the eastern edge of downtown to develop a new Indiana headquarters. The $4.5 million project will revitalize…
Lauth lays off 54 workers in Indianapolis
Developer Lauth Group Inc. today laid off 80 employees – about 18 percent of its nationwide work force – including 54 at its Indianapolis headquarters. The company described the move as part of a “realignment” that will help the nation’s 13th-largest developer continue to grow. About 90 percent of Lauth’s business is outside Indiana. The […]
Real estate to hold steady in ’08, report says
Real estate giant Colliers Turley Martin Tucker expects a 2008 slowdown in new office and industrial construction in Indianapolis as market demand catches up to a rapidly expanding supply. Retail construction likely will continue its quick pace, buoyed by the addition of mega-fitness chains and the local expansion of Dunkin Donuts. But tightening credit markets […]
Updates on downtown projects
By popular demand, here are a few updates on new development projects: The Maxwell is coming out of the ground on schedule, but sales have been slow so far,…
More closings, some temporary
The Music Mill, a north-side restaurant, bar and concert venue, has temporarily closed its restaurant for a renovation. The box office remains open at the 82nd Street facility.
Seven nightclub in Broad Ripple…
Condos take shape atop building
Construction has begun on a project that will add 18 condos and four penthouses to the top of a historic four-story office building at 429 N. Pennsylvania St. The project, dubbed…
New closings undercut east-side mall’s revival: Tenants since ’74 opening have seen huge changes
The handful of retailers who have persevered through hard times for Washington Square Mall felt encouraged in recent years as newcomers Steve & Barry’s University Sportswear and Buffalo Wild Wings arrived. But the holiday season brought grim news: Macy’s now plans to close, and Gap won’t be far behind. Besides Caramelcorn, MCL and change, few things have been constant at the east-side mall since it opened in 1974. The 965,000-square-foot mall was 21 percent vacant last year, the worst occupancy…
National City Center nabs Veolia
Paris-based utilities giant Veolia Water has reached a deal to move its North American headquarters into the 16-story National
City Center, providing a boost to a downtown building still reeling from the loss of Simon Property Group Inc.
UPDATE: Finish Line shares erode following loss
As Finish Line Inc.’s stock price takes a beating and an ill-fated acquisition attempt winds through court proceedings, executives at the Indianapolis-based athletic retailer say they are trying to focus on the core business. But there’s not much good news there, either. CEO Alan Cohen told analysts during a conference call today that a lingering […]
Finish Line reports $16M loss
Beleaguered Indianapolis athletic retailer Finish Line Inc. reported more bad news Thursday afternoon. The company reported a net loss of $15.95 million, or 34 cents per diluted share, for its fiscal third quarter, which ended Dec. 1, 2007. That compares to a loss of $2.98 million for the same quarter in 2006. Meanwhile, same-store sales […]
Going out of business
Several stores are calling it quits at local malls. The highest profile is the Macy’s at Washington Square. Other closings include Gap stores, a Limited Too and The Walking Co. Have…
Yats, Aldi and another steakhouse
Montana Mike’s, a Kansas-based steakhouse chain, hopes to claim Indianapolis as a lucrative new market. The chain wants to open in Greenwood first, said Madison Jobs, Montana Mike’s vice president of franchise…
Residential real estate market follows nation into slump
For most of this decade, the Indianapolis residential real estate market enjoyed a good run. But in 2007 it muddled through
the doldrums just like the rest of the country, and builders pulled out all the stops to avoid getting stuck with inventory.
Developers roll out barrage of projects
It was a big year for downtown development proposals. Two in particular grabbed headlines: Legends District SoDo and Penn
Centre.
Developers have new plans for corner
The retail juggernaut at 86th Street and Keystone Avenue could get even stronger in the next several years. Locally based
Premier Properties USA Inc. revealed plans in 2007 for a $750 million redevelopment of a prime corner near The Fashion Mall
at Keystone.