![](https://www.ibj.com/wp-content/uploads/2020/11/Rop_Hotels_110620-300x200.jpg)
Hotels’ vacancy woes cause debt headaches
With travel and convention business continuing to stagnate and COVID-19 cases on a steep rise, many properties find themselves scrambling for long-term loan solutions and pleading for help from lenders.
With travel and convention business continuing to stagnate and COVID-19 cases on a steep rise, many properties find themselves scrambling for long-term loan solutions and pleading for help from lenders.
Indianapolis-based Unique Home Solutions Inc., a home remodeling firm known for a catchy television jingle featuring its telephone number, has declared bankruptcy after falling millions of dollars into debt.
No instances of widespread vandalism or property damage in the city’s core had been reported as of midnight and most streets near Monument Circle were generally quiet.
Updated plans for Tremont Town Center call for nine buildings (compared to the original 14) with about 450,000 square feet of office and retail space, plus senior housing, market-rate apartments and row houses.
Nearly one dozen downtown Indianapolis buildings and businesses have boarded up their windows and glass doors for Election Day, even though local law enforcement leaders and downtown officials aren’t expecting demonstrations that could spark vandalism or looting.
The Indianapolis-based real estate investment trust reported $65.1 million in revenue for its third quarter—an uptick of about $2 million from the previous quarter, but a drastic drop from the $75 million earned during the same period in 2019.
The fast-casual burger chain has secured a third Indy-area location, this one on the first floor of a ritzy downtown apartment building nearing completion by the Mass Ave Cultural District.
The Sweets & Snacks Expo is expected to attract more than 13,000 attendees and generate an economic impact of $10.2 million.
Work on the ritzy Mass Ave hotel has continued throughout the pandemic, despite delays to other projects around the city. The Bottleworks campus food hall is slated to open in January.
The 30-unit apartment project is aimed at individuals aged 18 to 24 who were previously in the state’s child welfare and fostering system.
Zesco Restaurant Supply needs to replace a nearby warehouse that will be demolished as part of IU Health’s massive expansion of its Methodist Hospital campus in coming years.
Joe Hale will oversee the museum’s operations, programming, partnerships, communications and advertising efforts.
Hired in August, Fred Wallace leads a team that ensures the priceless works at the Indianapolis Museum of Art art kept in tip-top shape.
Indianapolis-based KCG Cos. hopes to build as many as 200 apartment or townhome units for working-class residents, which would be adjacent to a new home for Mt. Paran Baptist Church on Franklin Road.
Telecom companies are putting 5G antennas by the hundreds in neighborhoods across Indianapolis, escalating tensions with residents who complain they have little say over where they’re built.
The Indianapolis-based NCAA announced its site selections for more than 450 events through 2026 on Wednesday afternoon.
The owner of a 60-acre commercial development that recently took shape on former farmland in Franklin Township is planning a few new components, with long-term plans for at least a dozen more buildings.
But Executive Director Andy Mallon says he’s “very confident” the board will recover from not only the pandemic but also necessary spending cuts and financial hits over the next 18 months.
Overall, 340 groups, representing nearly 965,000 attendees, outright canceled their Indianapolis events this year because of the pandemic. The loss of business is taking a toll on the Capital Improvement Board’s revenue streams.
A planned two-building office headquarters in Broad Ripple for staffing company Eight Eleven Group is another step closer to approval.