NCAA confirms $270M insurance payout for canceled NCAA tournament
The NCAA’s insurance payout for March Madness is perhaps the largest for a pandemic-related event cancellation thus far.
Mickey Shuey
Articles
Library planning to buy site of former school for new $10.2M Glendale branch
The Indianapolis Public Library plans to acquire land from the Washington Township school district as part of a years-long effort to build a new Glendale-area branch to replace the one in Glendale Town Center.
Capital Improvement Board projects $41.6M budget deficit in 2021
The Capital Improvement Board of Marion County approved a $132.3 million budget for 2021 during its Friday board meeting—a reduction of 26.4% from this year’s budget.
Rapid growth of e-commerce likely to fuel industrial-market momentum for years to come
The planned, 2.2-million-square-foot Walmart distribution center is one of a dozen warehouses exceeding 900,000 square feet to enter the Indianapolis market since 2011.
Ratio principal Bill Browne talks Pan Am Plaza project
Ratio is architect for the $550 million project by Kite Realty Group Trust that includes a Signia Hilton, an expansion of the Indiana Convention Center and—eventually—a second, 600-room Hilton-branded hotel.
Q&A: A new downtown park—for dogs
Erica Ballard’s dream of downtown dog park is coming to fruition after three years of work.
Plainfield mall facing foreclosure for 2nd time after owner misses $30M payoff
The owners of the Shops at Perry Crossing had been hoping to sell the shopping center before a May deadline to pay off the property’s loan balance, but the pandemic ruined those plans.
Toys for Tots seeks new home for warehousing, distribution
The not-for-profit’s central Indiana organization must vacate its current space and hopes to secure 10,000 square feet at another location that could be leased for a nominal fee.
Independent music venues face closures without help
About 60 entertainment stages, bars and studios across Indiana have joined forces in a new association to fight for government assistance they say is needed to survive.
Plan for major apartment project next to Walker Theatre moves ahead
The proposed complex next to the Madam Walker Legacy Center would include about 344 apartment units ranging from studios to three bedrooms, with most of those likely used by IUPUI students.
Pavilion at Pan Am owners eye new venue to replace soon-to-be-razed building
The operators of the Pavilion at Pan Am Plaza event center are considering building a $15 million venue in downtown Indianapolis to replace the one Kite Realty Group plans to turn into rubble as part of its massive redevelopment of the plaza.
The Whit owner lists property for sale, with asking price of up to $120M
The nine-story building features 334 apartment units, a 540-space garage and the 16-Bit Arcade+Bar.
Performance Racing Industry hoping to hold December trade show
More than 940 exhibitors have already registered for the event, which could bring upwards of 67,000 people to the Indiana Convention Center and generate an economic impact of $65.2 million. But county health officials haven’t yet approved the event.
Indy 500 to run without fans in the stands
The race had been postponed from its usual Memorial Day weekend date to Aug. 23, before announcements that the track would limit seating to 50% and then later 25%—with masks required—and now with no fans at all.
Horizon House plans 36-unit apartment project for homeless on downtown’s east side
The four-story project will also feature office space for Horizon House, which is located adjacent to the site and has provided services for homeless individuals since 1990.
Ambrose plans $75M redevelopment of former Navistar plant property
Ambrose acquired the 90-acre property at 5655 S. Brookville Road in mid-July for $8.2 million—more than five years after Illinois-based Navistar International Corp. shuttered its foundry operations there.
Pacers organization terminates dozens of employees in cost-cutting move
Pacers Sports & Entertainment, which owns and manages the Indiana Pacers and Indiana Fever, has cut about 16% of its full-time workforce in response to financial losses during the pandemic, a spokesman told IBJ.
Kite Realty Group bets big on hotel, even as other projects wither
A third of planned downtown hotel rooms announced before the pandemic are now on hold.
Proposed 40-story Signia at Pan Am Plaza to shake up hotel landscape
The $300 million hotel will be the most expensive and elaborate new lodging project built in the city since the $450 million JW Marriott complex was completed in 2011. And it will compete directly with the JW.
Indianapolis Indians to weigh name change after 118 years with same moniker
The club said Tuesday that it “will be forming a committee to explore” its name and determine whether a change is necessary, amid pushback from Native Americans who view it as inappropriate.