Developer submits incentive request for $200M project at Lafayette Square
The city on Wednesday confirmed it has received an incentive application from Sojos Capital LLC for tax-increment financing but declined to provide additional details.
Commercial Real Estate
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Vast portfolio of Indy-area commercial buildings sells for $98M
A pair of Southern California firms bought the properties—which total just over 1.1 million square feet—in a deal with Indianapolis-based Mann Properties LP that quietly closed in late 2021.
Six new tenants set for Garage Food Hall with Cubans, empanadas, juices and more
Three of the upcoming dining options are owned by restaurateurs who already have locations in The Garage, part of the $300 million Bottleworks development on Mass Ave.
Iowa-based grocery chain Hy-Vee plans 150,000-square-foot store in Zionsville
Company announces it is finalizing plans to secure 26 acres of undeveloped land along Whitestown Parkway.
Real estate exec Woodard seeks adaptive reuse for old fan factory
Real estate executive Turner Woodard has closed on the acquisition of the former Horton Fan Factory in Carmel and plans to market it to an array of potential users.
Crackers Comedy Club plans revival after sharing news of its demise
After saying last week that the 40-year-old stand-up club was history, owner Ruth-Anne Herber announces a change in plans.
Rowland Design acquired by Cincinnati architectural firm
Rowland Design—one of the city’s largest and oldest commercial interior design firms—is changing its name to Luminaut Rowland in Indianapolis after being acquired by Luminaut, one of Cincinnati’s largest design firms.
Local developer planning townhouses in Old Northside neighborhood
Onyx+East is expected to appear before the Indianapolis Historic Preservation Commission on Wednesday for a preliminary review of the $6.5 million project.
2021 Year in Review: Companies rethink offices, leaving downtown spaces open
Salesforce and other major employers are continuing to evaluate their long-term plans for downtown office space, nearly two years after the pandemic sent companies scrambling to accommodate working from home.
Cook Medical builds Indy factory using only contractors with diverse owners
Hiring 100% diverse contractors to build a $15 million medical-device manufacturing facility was considered difficult, if not impossible, by many in the construction industry.
Sophia’s Bridal & Tux expanding to Keystone at the Crossing, Louisville
The Indianapolis-based formalwear shop says the decision to expand is a result of growth in the bridal and prom industries, as well as the need for a larger retail space on Indy’s north side.
Developers teaming up on $33M affordable housing project on site of former school
As planned by Chase Development Co. and Birge & Held, Lincoln Lofts in the rebounding Bates-Hendricks neighborhood would be reserved for individuals and families making up to 60% of the area’s median income. The project would mean demolition for the former Abraham Lincoln School, IPS No. 18.
Upscale Mexican chain planning downtown eatery, cantina
Los Arroyos Mexican Restaurant and Take Out, which opened a Carmel restaurant in 2016, is branching out with plans for a location near the mouth of Mass Ave.
Lumina Foundation set to relocate to new building in Bottleworks
The foundation will occupy the top floor of the planned five-story structure at 820 Massachusetts Ave., using 23,700 square feet for about 50 of its employees.
Local firms set to redevelop former Kroger store in Broad Ripple
Gershman Partners and Citimark plan to raze the grocery to make way for a new mixed-use project, though plans for the development are still in the works.
Apartment developer plans $25M project on North Meridian Street
TWG Development LLC is in discussions with city zoning and planning officials for the 125-unit project, which would be developed on the east side of the road in the 1800 block of North Meridian Street.
Huge $150M industrial campus planned at former Ford Visteon site on east side
The property is under contract for an undisclosed price from Ford Motor Co., which has owned the land under its own name and an affiliated holding company since at least 2005.
Vegas Lounge & Bar planned for former arcade site in Broad Ripple
The new nightclub owner wants to bring visual opulence associated with Las Vegas to building that was home to One Up Arcade from 2018 to 2020.
Carmel firm to build 200 apartment units for lower-income residents on Indy’s south side
Pedcor Companies plans to spend $50 million to develop its City Heights project, which will target individuals and families making up to 60% of the area’s median income.
IBJ Podcast: Martha Hoover (Part 2 of 2) on how the restaurant industry is broken
Hoover—known for restaurants including Cafe Patachou, Public Greens and Napolese—tells host Mason King that the industry has historically put too much emphasis on quantity and price at the expense of quality, as well as the people making the food.