Indy Parks said Tuesday that it expects to spend more than $20 million to acquire the 40,000-square-foot facility and avoid shelling out nearly $1 million per year as part of a long-term lease agreement.
The development, called 1202, would feature 105 units on a 1.1-acre parcel on the near-south side, with at least one-fifth of the units reserved for individuals making up to 80% of the area’s median income.
The $600 million project, announced in 2015, included upgrades to the facilities, machinery and manufacturing processes at Rolls-Royce’s Indianapolis operations. A pandemic-delayed celebration of the project is scheduled to take place Wednesday afternoon.
Calumet, which acquired Muncie-based Paralogics LLC in March 2020, now says it plans to expand the facility and hire up to 20 more employees there by 2025.
The 10-story tower in northern Hamilton County is one of the largest soybean processing towers in the world, capable of processing three million bushels of soybeans annually, doubling Beck’s processing at the location.
More than 22 million square feet of space is already under construction, with some brokerages estimating several million more will break ground by the end of the year.
OrthoIndy is planning to expand its presence in Westfield by moving out of its current leased space and building a new $12.5 million facility all its own near State Road 32 and Austrian Pine Way. If approved, it could open to the public next summer.
A Carmel-based development firm plans to spend $70 million or more to turn agricultural fields in Noblesville into the site of three industrial buildings called Saxony Industrial Center.
Indiana Secretary of Commerce Brad Chambers has a vision for the state to “shoot higher” in its economic development efforts, which he outlined Thursday morning in a five-point strategy.
The company, which offers cloud-based software and other products for call-center operators, has a significant presence in Indianapolis but it’s unclear how the recent investment might affect local operations.
House Republican leaders want to reduce the personal property taxes businesses pay on equipment, claiming it is one of the last tax obstacles in recruiting new businesses and spurring growth for businesses already here.
Sen. R. Michael Young, R-Indianapolis, is pushing a bill that would require the Metropolitan Development Commission to notify Marion County’s independent cities and towns before it considers tax abatements for development projects in each city.
Despite Indiana’s economic development successes, industry experts say the state must do more to attract multibillion-dollar megadeals like ones other states have recently landed.
Percolating under the radar for two years, the first phase of Hobbs Station is expected to feature 300 apartments, 99 single-family homes and 500,000 square feet of logistics space.
Cincinnati-based Uptown Commercial Partners plans to invest nearly $29 million to build the facility on a 40-acre site just east of the Graham and Whiteland roads intersection, and west of Interstate 65.
And because the property fronts the busy East 96th Street commercial corridor, the developer is also exploring options for retail outlots on the north end.
In all, the plan could be worth more than $10 billion over time. It calls for members of the Sackler family to give up control of the Stamford, Connecticut-based company so it can be turned into a new entity with profits used to fight the crisis.
The project would occupy four parcels between 6407 and 6419 Ferguson St., which are occupied by four residential-style buildings that have housed short-term rentals and small businesses.
The project at the site of a former Kroger store is expected to consist of about 234 apartment units, a 240-space parking garage and 3,600 square feet of street-level restaurant space.
