Local production bakery plans $25M expansion, 50 new hires
CraftMark Bakery, the baked goods supplier for more than 70,000 restaurants in North America, is planning another expansion that would bring employment up to 446 by the end of 2022.
Mickey Shuey
Articles
Plans for downtown dual-brand hotel approved by IHPC
A 206-room, dual-branded hotel planned for a downtown parking lot won approval Wednesday night from the Indianapolis Historic Preservation Commission.
City still has grand vision for GM site, despite unraveling of $1.4B Ambrose project
Ambrose’s withdrawal from Waterside follows other changes at the firm, including the May defection of three senior executives to start Westfield-based Patch Development.
City threatens to take GM stamping plant land from Ambrose by eminent domain
The letter from the city’s corporate council to Ambrose says that to “avoid the delay and expense of a court process, we would welcome the opportunity to begin negotiation acquisition of the property immediately.”
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.
School district revives defunct Marsh store as nifty preschool
Shelbyville Central Schools bought the property and spent $13 million on a wholesale renovation and redesign to accommodate hundreds of children.
Plans for King Cole Building call for $21M redevelopment, Motto hotel
Indy Propco LLC, which has owned the 11-story building at 1 N. Meridian St. since January, wants to turn the property into a Motto by Hilton that would have at least 116 rooms, according to plans recently filed with the Indianapolis Historic Preservation Commission.
Experts say CIB is thin on liability coverage for event venues
The board carries $56 million in liability insurance for its facilities, including a $1 million general liability policy and a $55 million umbrella policy.
Kite Realty seeks TIF funds for 3 mixed-use projects
Indianapolis-based developer Kite Realty Group Trust is asking the cities of Carmel and Indianapolis to ante up incentives for a trio of mixed-use projects in its pipeline.
Ambrose is mum, but experts say it likely ran into financing problems for $1.4B Waterside
Real estate developers and experts suspect the firm couldn’t get access to enough capital to move forward with the massive, 103-acre development. Opinions are mixed on whether the site should remain intact or be split into multiple projects.
NBC says IndyCar viewership climbed 9% in first year of media deal
The eight broadcasts on NBC had an average of 929,000 total viewers—up 3% over the four non-Indy 500 races on ABC last year. NBCSN broadcast the other eight races on the schedule.
Convention center planning much-needed Wi-Fi upgrade in 2020
The past-its-prime Wi-Fi system at the Indiana Convention Center could get a big boost in 2020, as its owner looks to make $5.7 million in enhancements to the venue.
Local real estate developers join Big Red Liquors ownership
TWG Development’s Tony Knoble and Justin Collins are joining Big Red executive Don Rix as new co-owners of the state’s largest package liquor store chain, alongside founder Mark McAlister.
City ‘full speed ahead’ on Oaktree apartments demolition
Indianapolis officials expect to move forward with razing the blighted northeast-side complex, after the owner failed to request a last-ditch hearing by the state’s Supreme Court.
Local developer plans to take up Cambria flag with proposed downtown hotel
A 148-room Cambria hotel is planned for South Meridian Street, less than one year after a local developer scrapped plans for a hotel near the same location with the same brand.
After delay, developer moving ahead with $46M canal apartment project
Louisville-based Investment Property Advisors is planning 279 additional units and more than 28,000 square feet of retail space just south of its 9 on Canal project, to be dubbed 350 West.
Brownsburg’s newly built downtown starting to fill up
Through a series of developer partnerships that included $53 million in private funding, more than $90 million worth of new buildings and infrastructure improvements have been added along or near North Green Street.
Developers planning $25M development on former brownfield site
The city has spent the past several years remediating the former railyard site and marketing it for potential development.
Owner proposes 22-story addition to downtown’s Morrison Opera Place
Plans for the development include a 220-room hotel and 32 residential units. The addition would boost the existing historic building from four to 26 stories.
Long-delayed, $60M project in Mapleton-Fall Creek back on track
The neighborhood’s community development corporation has recast its vision for the expansive Central@29 project and hopes to begin construction of its first phase of apartments next summer.