Simon-backed group buys key parcel at potential MLS stadium site
The parcel, a parking lot of just six-tenths of an acre, was sold for $1.59 million by electric company AES Indiana.
Mickey Shuey
Articles
State’s big, bold LEAP District play draws some reflection
The state has spent more than $690 million so far establishing the LEAP Research and Innovation District. Outgoing economic leaders say the project is a huge success, but some political leaders are cautious.
IBJ’s biggest real estate development stories of 2024
IBJ has reported extensively on numerous projects throughout this year in the core of Indianapolis and across the area—some that made significant progress and others that ground to a halt.
2024 Year in Review: City sees key development projects start or advance
More than $8.5 billion in development is underway across downtown, with more coming as projects in their earliest stages wind their way through the planning process.
2024 Year in Review: State doubles down on LEAP District investment
The Indiana Economic Development Corp. inched closer to its vision for its LEAP Research and Innovation District in Lebanon this year with more than $100 million in additional state funding, steps to secure water for the site and additional private investment.
2024 Year in Review: Big tourism year draws hundreds of thousands to area
In addition to its slate of annual conventions like National FFA, FDIC International, Gen Con and the Performance Racing Industry—which each bring in 30,000 or more people—the city played host to numerous one-time events, including the 2024 NBA All-Star weekend, the three-night Taylor Swift The Eras Tour stop, and the U.S. Olympic Swimming Trials.
Long-awaited InterContinental Hotel yet to set opening date
Indianapolis-based Keystone Group has been working on the 170-room hotel, a $101 million adaptive reuse of the historic Illinois Building at 17 W. Market St., since 2018.
Damien Center planning 40-unit apartment project next to future headquarters
The nonprofit, Indiana’s largest and oldest AIDS service organization, hasn’t finalized a budget for the project, but early estimates place the cost between $12 million to $15 million.
Grand Universe CEO sued by chief operating officer over alleged non-payment of salary
Kurt Williams claims Grand Universe Space Science Institute Inc. has failed to pay him more than $2 million since he began working for the company in 2015.
Insurance-tech firm Remodel Health raises $100M in growth funding
The firm, which helps employers transition workers to individual health insurance plans, has more than doubled its workforce in the last year and hopes to go on an acquisition spree.
William McGowan, key figure in Indy’s convention and sports tourism strategy, dies at 89
McGowan led the Indianapolis Convention and Visitors Association from 1984 to 2002 and was instrumental in the city’s efforts to land the 1987 Pan American Games, the 1980 and 1991 Final Fours and the Indianapolis Colts.
Indianapolis couple sues IU professor, students for $2B alleging they stole project plans
Tim and Doris Anne Sadler say the students disclosed the couple’s plans for a 1,550-acre development in Puerto Rico to a company that used the information to take over the project.
City makes request to acquire downtown heliport as part of proposed stadium district
The Indianapolis Airport Authority is expected to consider the deal Friday during its monthly board meeting, although no sale would be finalized until the heliport is fully decommissioned.
Carmel developer plans 315-unit luxury apartment project in Plainfield
Located north of The Shops at Perry Crossing shopping center, Crossing 5 Towns & Flats is expected to offer market- and above-market-rate units ranging from one to three bedrooms.
Indy Ignite, Fishers Event Center to host pro volleyball league’s All-Star event
The nationally televised contest, set for Feb. 22, will come during the second season for the Pro Volleyball Federation and the first season for the Ignite.
NCAA reveals logos for 2026 Men’s Final Four, other basketball championships
Also unveiled were the logos for the 2026 NCAA Division II and Division III men’s basketball championships, which will also be held in Indianapolis on the same weekend (April 4-6) as the Final Four.
Neighbors push back on east-side development proposal
An out-of-state investment firm with plans to redevelop a rundown east-side retail center intends to refine its approach to the project weeks after hearing objections from neighbors—some of whom have their own ideas for the property.
City says Jail I building demolition to begin by end of year
The $4 million demolition, which is being led by Indianapolis-based Renascent Inc., comes after the building was vacated by the Marion County Sheriff’s Office in 2022.
Developer plans $22M apartment, retail project with housing for veterans along Keystone corridor
The 92-apartment development, which would feature one- to three-bedroom units, would consist of market rate and reduced-income housing, with the latter meant to serve homeless veterans.
Economic development overhaul gives Mayor’s Office more control
The plan is meant to streamline discussions among the city, existing businesses and companies considering Indianapolis for expansion or relocation.