New office building planned for Nickel Plate District in Fishers
To incentivize the development, the Fishers City Council on Monday night voted to waive city fees associated with the project for up to 24 months.
Commercial Real Estate
Articles
Downtown’s E’laan apartment building set for sale, $5M expansion
An upscale apartment building in downtown Indianapolis is expected to be acquired at the end of this month by a local firm that is planning an expansion project that will almost triple the number of units in the property.
Circle Centre files suit against Granite City over lease default
According to the suit, Granite City failed to pay monthly rent and meet other obligations under terms of the lease for the 9,603-square-foot ground-floor space it occupied in Circle Centre until late last month.
Former bakery warehouse site to be cleaned up with $345,000 grant
The east-side site was used by Colonial Baking Co. as warehouse storage, truck loading and truck repair from the mid-1950s through the 1990s. It is contaminated with heavy metals and petroleum compounds, and has remained unused for decades.
Historic preservation commission votes to protect Drake Apartments
The Indianapolis Historic Preservation Commission voted Wednesday night to put a historic designation on the eight-story apartment building owned by The Children’s Museum of Indianapolis amid concerns the structure might be torn down in coming weeks.
Kite’s $40M apartment project at Glendale gets city approval
The city’s Metropolitan Development Commission on Wednesday gave Kite Realty Group the necessary approvals it needs to proceed with its plan build a 267-unit apartment complex adjacent to Glendale Town Center.
IHPC to vote on putting historic designation on Drake Apartments building
The city’s historic preservation commission plans to move forward Wednesday with an effort that could curtail a plan by The Children’s Museum of Indianapolis to demolish an aging eight-story apartment building it has owned since 2012.
Macaroni-and-cheese restaurant franchisee eyes multiple local locations
Two local law enforcement officers with a development agreement for the Florida-based chain have narrowed their sights on locations for at least three restaurants on the north side.
New coworking space to double as furniture showroom
The new concept will occupy the entire top floor of one of the Pyramids office buildings. Also this week: Black Acre, Taste of Havana, Chef JJ’s Backyard and Gauchos Brazilian Steakhouse.
Hotel planned for King Cole building downtown
Interior demolition appears to have already begun, and several tenants told IBJ that they have either already moved out or have been asked to vacate by the building’s owner.
Fountain Square liquor store owner planning big expansion with residence in 3-story building
Local entrepreneur Ray Vandivier envisions a 9,500-square-foot building that would incorporate the Liquor Cabinet at 949 Virginia Ave. and serve as living space for his family.
TIF incentives for $66M downtown project barely pass council committee
The council’s Metropolitan and Economic Development Committee voted 6-5 to send two proposals concerning Charles Street Investment Partners’ mixed-use project at 421 N. Pennsylvania St. to the full City-County Council.
Zionsville’s Creekside Corporate Park remains largely empty
Town leaders say development is coming, but has been slow because they’re picky about tenants.
IPS could shed more property to cut costs, boost efficiency
The district next month plans to issue a request for proposals for a comprehensive study of all 71 of its schools and other buildings.
Should this building be saved?
Historic preservationists and midtown neighborhood leaders don’t want to lose the Drake apartment building that its owner, The Children’s Museum of Indianapolis, plans to raze.
Oaktree Apartments demolition order affirmed by appeals court
Oaktree Apartments, a blighted 19-acre property at the southeast corner of 42nd Street and Post Road with 336 apartment units, has been vacant since 2014.
Greenwood seeks redevelopment proposals for key downtown site
The city sees redevelopment of a former middle school property as the linchpin in efforts to revitalize its downtown.
Partners in Tru by Hilton hotel project file suit, allege unpaid development fees
The lawsuit says the men reached an oral agreement in late May 2017 to split the anticipated $1 million development fee evenly, four ways.
Kite Realty Group sells off 14 properties for $415 million
The divestitures are part of what the company calls Project Focus, a previously-announced project to sell off non-core assets and pay down debt.
Scannell planning to build $14.5M distribution facility for PepsiCo
The 200,000-square-foot southeast-side project would be constructed for PepsiCo subsidiary P-America LLC, which has multiple facilities around Indianapolis.