The redevelopment of the former Broad Ripple Kroger and the Fountain Square White Castle could be the first residential projects to receive tax-increment financing from the city without including affordable housing units.
The additional financial support will come from the Capital Improvement Board’s fund balance, which was bolstered in October with $50 million in revenue replacement funds through the federal American Rescue Plan Act.
The approval allocates $25 million from the city’s downtown tax-increment financing district to pay for the acquisition of the basement level of the project from developer Kite Realty Group Trust, which plans to build an 800-room hotel and an addition to the Indiana Convention Center.
The 36-year-old local institution expects to spend about $4 million to purchase, renovate and expand the former F.C. Tucker office at 9111 Allisonville Road to house its day-to-day operations, classrooms and rehearsal spaces.
Hammond-based 18th Street Brewery opened its Indianapolis tap room one month before the pandemic stay-at-home orders of 2020.
While it’s not clear what the new owner plans to do with the building, the name of the holding company indicates uses as a cold-storage or pharmaceutical facility—or both.
The Indianapolis-based apartment developer plans to vacate its current headquarters in the Fletcher Place neighborhood for a newly designed space that can house twice as many employees.
Nearby residents object to the project, which would include 817,000 square feet of speculative industrial space across 56.7 acres and a residential section with 133 single-family homes and another 52 homes in a paired-patio design.
The Cole Motor Redevelopment, which includes the former Jail II building and Arrestee Processing Center, is one step closer to receiving tax-increment financing.
The company will continue to have an event space and its catering operations along the Monon Trail, plus its Gallery Pastry Bar in downtown’s Wholesale District and Gallery on 16th in the Old Northside neighborhood.
Siblings Phil and Joel Kirk want to be part of the commercial comeback of the Garfield Park neighborhood southwest of Fountain Square.
Raising Cane’s filed a lawsuit against the Indiana shopping center’s owner, Schottenstein Property Group, alleging fraud and saying the would-be landlord failed to disclose the existence of the chicken ban.
The appeals court agreed with a lower court that the school corporations are prohibited from pursuing “takings clause claims,” which can prevent private property from being taken for public use without just compensation.
Morrell Group, which says it outgrew its location in Indianapolis, is occupying about 32,000 square feet and will employ 33 people.
The plans from Edward Rose & Sons call for demolition of the 54,500-square-foot Main Event entertainment complex, which opened in mid-2017 in the Lake Clearwater area.
Five of 20 downtown hotel projects announced before the pandemic have opened. But few of the remaining 15 have made substantive progress, despite a strong rebound in the district’s hotel occupancy rates.
TWG Development expects to spend $56.5 million to build Bakery Living, a six-story, 201-unit apartment project at 1331 E. Washington St., just east of its redevelopment of a Ford Motor Co. assembly plant.
After opening its first Indiana store late last month in Noblesville, the Massachusetts-based shopping club chain has filed plans to build another store in Hamilton County.
The Indianapolis City-County Council and Metropolitan and Economic Development Committee are considering tax-increment financing for three apartment developments that prioritize access to transit.
The not-for-profit organization is looking into using the 134-year-old Lacy Building at 848 Logan St. for artist studio spaces, workshops, classrooms and event space.
