Apartment building on North Meridan sells for $11.4M
The 195-unit Meridian Towers Apartments on the near-north side of Indianapolis has been sold to an out-of-state development partnership that plans to renovate the property.
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Bottleworks’ second phase moving ahead with no residential but greater emphasis on office space
The second phase alone is likely to take about three years to build, with construction commencing in mid-2022 at a tentative cost of nearly $100 million. The total project cost is expected to push $300 million.
Meatball specialty restaurant closes its Carmel location
The restaurant specializing in meatballs blamed the pandemic for “significantly decreased sales” at the location at 12505 Old Meridian St. that have not returned to pre-COVID levels.
Carmel offers new details on $47M ‘1st on Main’ development
Plans call for the 1st On Main development—previously known as Lot One—to include a four-story office building with first-floor restaurant space and a private rooftop terrace, luxury condominiums, upscale apartment units and a parking garage.
$21M townhouse project planned adjacent to Monon Trail
Local developer Onyx+East is seeking city approval for the project at 2060 Yandes St., which is expected to feature nearly 50 townhouses and four single-family units.
Two-building spec distribution development set for Greenwood
The 708,000-square-foot Indy South Logistics Center will be constructed at 955 N. Graham Road, just east of Interstate 65 and south of County Line Road.
Developer puts Mass Ave office building across from Bottleworks under contract
Indianapolis-based Landmark Properties plans to buy the five-story Center Township Trustee’s building, with an eye toward office and first-floor retail uses.
Group tackling housing affordability on near-north side with $15.5M apartment project
The development at 22nd Street would keep rents low for tenants while providing nearly free space for initiatives focusing on career building, mental health and substance abuse.
Fishers District retail area, apartments sold to Chicago firm in ‘landmark’ deal
Developer Thompson Thrift, which began planning the $110 million development in 2015, sold the property in a deal that brokers said “attracted nationwide investor interest and achieved record-breaking pricing.”
Hot-chicken restaurant chain to nest on Mass Ave
The downtown restaurant is part of a larger plan by a Fort Wayne-based group of franchisees to open several locations in central Indiana.
COhatch set to open four more area coworking sites in early 2022
The company, which entered the market in 2020 by opening coworking centers in Broad Ripple and Noblesville, announced formal plans Wednesday to open additional Indianapolis-area centers—in Martindale-Brightwood, Carmel, downtown Indianapolis and Zionsville.
Developers planning $50M-plus, 279-unit apartment complex for 16 Tech
Expected to be a key component of 16 Tech’s live-work vision, the apartment project will include a mix of studios and one- and two-bedroom units.
City explores future of its downtown buildings
Officials are taking a fresh, hard look at municipal-owned real estate as part of a larger effort to repurpose several sites that will be largely vacated as agencies move to the Community Justice Campus.
Health care real estate firm Cornerstone forms joint venture with KKR
Indianapolis-based Cornerstone Cos. Inc. said it teamed with the New York City-based global investment giant to acquire and develop more than $1 billion in real estate assets over the next few years. The deal includes the recapitalization of 25 Cornerstone properties.
Meridian Hills apartment complex sells for $26.5M after 55 years with same family
The new owner plans to make a significant investment in improvements that likely will drive up rents that have languished of late.
Indy Chamber eco-devo guru expects West 16th Street corridor to gain momentum
Portia Bailey-Bernard of the Indy Chamber says projects like the $60 million redevelopment of the Stutz business campus and the expansion of IU Health’s downtown campus will help reshape the northern portion of downtown.
New brewery set to anchor east-side art studio property
The brewery space will feature a 1,200-square-foot taproom with seating for up to 50 people and a 3.5-barrel brewing system.
Prominent Keystone Crossing office buildings sell for $34.2M
The acquisition by Felton Properties, which equals about $164 per square foot, marks the Oregon-based firm’s first venture into the Indianapolis market.
New Stutz factory owners planning $60M redevelopment
Plans call for the updated Stutz, purchased earlier this year by New York-based SomeraRoad Inc., to feature new event areas, co-working space, more retail and restaurant offerings, new outdoor spaces and an updated facade.
Not-for-profit legal services collective considers $7M HQ project in Zionsville
If Allies Collective chooses Zionsville, and the commission enters into a project agreement, the headquarters could create as many as 150 jobs paying an average of $41 per hour over the next six years.