Devington Plaza task force unveils ideas as residents, developer look for path forward
The neighborhood proposal comes as the group pushes New York-based Skysoar Capital Partners to reconsider its plan for the nearly abandoned site.
Commercial Real Estate
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City staffers seek more details on contentious Devington Plaza revamp, recommend denial of rezoning
The company’s current proposal calls for a two-phase, $100 million overhaul including more than 500 apartments, 35,000 square feet of retail and restaurant space, townhouses and a hotel.
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With InterContinental and Aloft now open downtown, what’s next in the hotel pipeline?
More than $1 billion in hotels and associated projects is under construction or set to begin in the next 12 months. Another several hundred million dollars’ worth of investment is under consideration or in the planning stages.
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Circle Centre restaurant Nada to close
Nada opened in 2016, taking over 8,500 square feet previously occupied by Circle Centre Mall anchor tenant Nordstrom.
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Local Scouting America council set to sell Indy headquarters, western Indiana camp
The Crossroads of America Council is selling the properties in hopes of securing financial stability after several years of losses.
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Articles
Hendricks fine-tuning plans for $300M first phase of Circle Centre revamp
The developer behind the planned overhaul of Circle Centre Mall could start construction work on the $600 million project by the end of this year.
Gray Brothers plans to close Mooresville cafeteria, sell building for $10M
Third-generation owner Jason Gray told IBJ plans for after the sale—including when and where the beloved restaurant will reopen—are still in the works.
Kite Realty sees quarterly rise in revenue, profit
The Indianapolis-based retail real estate investment trust reported fourth-quarter funds from operations that met analyst expectations.
Simons’ downtown hotel, entertainment project gets green light for forgivable $25M city loan
Specific details for the loan, which could be forgiven if the Simon family’s development affiliate meets certain terms, are expected to be finalized in coming months.
Planned practice center aims to help Fever keep up with WNBA competitors
Six other WNBA teams have opened or announced plans for dedicated practice facilities. Fever parent Pacers Sports & Entertainment, which is majority-owned by Herb Simon and his family, plans to invest $78 million in the Fever facility.
Q&A with hotelier Jim Dora on downtown, police work and more
In a conversation with IBJ, the CEO of General Hotels Corp. explains how his work has shaped his perspective on downtown and offers his thoughts on the controversial city plan to build and operate a hotel.
Herbert Simon retires from role on Simon Property Group board
Herbert Simon, 90, partnered with his brother, Melvin Simon, in 1960 to launch real estate company Melvin Simon & Associates.
Environmental consulting firm expanding in Indianapolis
BCA Environmental Consultants has doubled the amount of its office space in Indianapolis and plans to add nearly two dozen jobs.
IBJ Podcast: A preschool, a church, a pickleball palace—tracking the transformations of Indy’s vacant Marsh stores
Longtime Indianapolis retail real estate broker Bill French and podcast host Mason King share detailed records on how many former Marsh spaces have been recast, revamped or replaced.
Greenwood store Red Dog Books faces closure, seeks new home
Red Dog Books, a tenant of Greenwood’s Allyne Parke shopping center since 2018, received notice on Jan. 14 that its lease will be terminated.
Hogsett team remains upbeat as MLS discussions grow quiet
There’s been little public movement on the pursuit of a Major League Soccer club since the city last August asked the state to create a new taxing district to pay for a soccer-specific stadium.
Fever to get new $78M practice, training complex at former downtown jail property
Pacers Sports & Entertainment plans to build a dedicated training complex for the Fever with two regulation-size basketball courts, a full-service kitchen, a private outdoor courtyard and a spa-style retreat space.
King Jugg Brewing set to redevelop former Noblesville dry cleaning property
The local brewing company plans to spend at least $4 million to renovate the existing structure, committing to an adaptive reuse of the property as part of an agreement with the city.
Purdue buys canal-front property downtown as part of Indy expansion
Purdue’s purchase of the site—once earmarked for a large hotel and office development—is one of several moves the university has made downtown stemming from the dissolution of IUPUI last summer.
IBJ Podcast: Inside the mind of a rising Indy apartment developer
After five years with Indianapolis-based Birge & Held, Jarod Brown decided he wanted a business with his name on the door. For his HQ, he bought the former Broad Ripple Library.
Apparel shop, toy store fill spots on Mass Ave block
A streetwear-and-more shop and a store selling toys in a former bank building once robbed by John Dillinger are recent independent retail additions to the block across from Bottleworks.
Deal between Carmel, Hamilton County could accelerate Clay Terrace redevelopment
Members of the Carmel City Council on Monday night voted 9-0 to approve an interlocal agreement between the city and county that could spur development of a vacant area on the southeast side of the Clay Terrace outdoor shopping center.
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.
Q&A with Catherine Esselman on reimagining real estate
Esselman spoke with IBJ about her experiences running a solo firm and why she loves finding tenants for underused spaces.