Photo gallery: The $58.5 million Hotel Carmichael opens in Carmel
The 110,000-square-foot hotel is situated between the Monon Trail and Veterans Way in Carmel, just south of City Center Drive.
Commercial Real Estate
Articles
Third Whitestown I-65 interchange to give developers blank canvas
The launch of a $63 million project to add an interchange and rework another is likely to fuel a new blitz of commercial development in the state’s fastest-growing town.
IndyGo considering purchase of former Celadon headquarters site
IndyGo is on the hunt for additional space because its staff and bus fleet have grown in recent years, making its current headquarters on West Washington Street too small for its needs.
Taller cubicles, staggered schedules: Returning office workers forced to adjust
Around the United States, office workers sent home when the pandemic took hold in March are returning to the world of adjustments, but offices in many cities still remain mostly vacant.
Ratio principal Bill Browne talks Pan Am Plaza project
Ratio is architect for the $550 million project by Kite Realty Group Trust that includes a Signia Hilton, an expansion of the Indiana Convention Center and—eventually—a second, 600-room Hilton-branded hotel.
Methodist Hospital expansion exposes tax tensions
The redevelopment will exacerbate a challenge already weighing on Marion County: huge swaths of land off the tax rolls because they are owned by not-for-profits and are being used for purposes related to the groups’ missions.
Plainfield mall facing foreclosure for 2nd time after owner misses $30M payoff
The owners of the Shops at Perry Crossing had been hoping to sell the shopping center before a May deadline to pay off the property’s loan balance, but the pandemic ruined those plans.
Cheapest apartments facing biggest foreclosure risk from pandemic
While landlords at the priciest, amenity-rich apartments have collected most of their rent payments during the pandemic, owners of older, less fancy units—the backbone of the nation’s affordable housing supply—have not fared as well.
Toys for Tots seeks new home for warehousing, distribution
The not-for-profit’s central Indiana organization must vacate its current space and hopes to secure 10,000 square feet at another location that could be leased for a nominal fee.
Plan for major apartment project next to Walker Theatre moves ahead
The proposed complex next to the Madam Walker Legacy Center would include about 344 apartment units ranging from studios to three bedrooms, with most of those likely used by IUPUI students.
Kite Realty reports tough 2nd quarter, but exceeds expectations
Kite Realty Trust collected 80% of base rent from tenants in the second quarter despite the pandemic. That percentage jumped to 87% in July.
Ambrose plans $75M redevelopment of former Navistar plant property
Ambrose acquired the 90-acre property at 5655 S. Brookville Road in mid-July for $8.2 million—more than five years after Illinois-based Navistar International Corp. shuttered its foundry operations there.
Kite Realty Group bets big on hotel, even as other projects wither
A third of planned downtown hotel rooms announced before the pandemic are now on hold.
Proposed 40-story Signia at Pan Am Plaza to shake up hotel landscape
The $300 million hotel will be the most expensive and elaborate new lodging project built in the city since the $450 million JW Marriott complex was completed in 2011. And it will compete directly with the JW.
Three new businesses transform Irvington building
The former Indiana Farm Bureau Insurance office now houses a coworking space, events center and bar. Also this week: Green District Salads, Old Pro’s Table, BounceU and Della Leva Espresso Bar.
Retail developer who took his own life was dogged by debts
Craig Johnson left behind what court records show is millions of dollars in debt that might not be covered by his estate.
Justice center project hitting minority-contracting targets, but are they too low?
Roughly $162 million has been committed so far to minority-owned businesses helping to build the city’s $575 million criminal justice center complex in the Twin Aire neighborhood.
Kite Realty Group seeks $7M in tax increment financing for $55M Glendale project
A proposal to issue economic development tax increment revenue bonds for Kite is slated to be voted on by the City-County Council’s Metropolitan and Economic Development Committee on Monday.
Council approves rezoning for south-side apartment project
Roughly 22 acres on the northern half of the 104-acre site would be reserved for a multifamily project by Sheehan Development Co. Inc. that would include 320 apartments.
IndyGo bypasses former Harrison College site in search for more space
The transit agency is now considering a site on Post Road that is much larger than the former Harrison College site downtown and potentially much less expensive.