For decades, Herb Simon’s downtown investment focused on owning Pacers Sports & Entertainment and managing Gainbridge Fieldhouse. But in recent years, Simon and his family have expanded their investments and holdings in downtown’s Warehouse District.
A request for proposals from developers for the 2-acre site is expected to be issued in 2025.
Five years after Indianapolis-based Kite bought the shopping center, the developer has invested in utilities, signage and infrastructure and is adding eye-catching tenants West Elm, Williams Sonoma and Bluemercury.
Indianapolis-based Pure Development has developed more than 35 real estate projects nationally and has a contract with the Indiana Economic Development Corp. to lead efforts on the LEAP Lebanon Innovation and Research District.
The 1.08 million-square-foot complex is expected to sell for significantly less than the $150 million it fetched in 2019, real estate sources told IBJ.
The Hogsett administration says no development can proceed on the property unless the owner agrees to treat human remains found there in a way that is consistent with the wishes of a community group.
Plans call for up to 100,000 square feet of Class A office space, as well as a new standalone building, a small plaza, and new restaurant and entertainment offerings.
More than 800 truckloads of concrete went into the foundation for the planned Signia by Hilton hotel and Indiana Convention Center addition at Pan Am Plaza over a 12-hour period.
The owner of Mass Ave sushi restaurant FortyFive Degrees purchased the 7,200-square-foot Metro bar and restaurant in May.
Indianapolis-based developers Gershman Partners and Citimark are seeking to develop a five-building warehouse complex on the property, but a permit denial affecting just a quarter-acre of the project could sideline the development.
The City-County Council’s Rules and Public Policy Committee on Tuesday will hear the Hogsett’s administration’s case for creating the professional sports development area, with scrutiny by the full council to follow on June 3.
Although the possibility of a Major League Soccer stadium in Indianapolis is still up in the air, city officials are considering design possibilities for their preferred site, on the east side of downtown.
This summer, the Health and Hospital Corporation of Marion County will break ground on a multiyear, $170 million facilities improvement plan—the largest investment in the agency’s structures in decades—beginning with a new public health lab.
Keystone Group revealed late Wednesday that archaeologists have discovered 87 remains in the excavation of a six-acre portion of the former manufacturing site.
Elanco also announced a commitment to purchase an additional 12 acres to the north of its planned headquarters for future expansion and the development of the Epicenter for Animal Health.
The following construction projects and sale and lease deals were included in IBJ’s Real Estate Weekly newsletter on May 21, 2024.
The 100-room hotel is planned for a parcel next to Crawfordsville Commerce Park, which got off to a slow start about two decades ago but recently has landed some major tenants.
Novartis Manufacturing LLC told a committee of the City-County Council on Monday evening that it plans to spend up to $125 million to construct and equip a 79,000-square-foot-building for radiopharmaceutical manufacturing and distribution on the city’s west side.
A developer of the shopping center property wanted to allow the Famous Taco restaurant to open there, but a nearby condominium association raised concerns that the business violated the property’s zoning policy.
Last month, city officials and the two developers reached a tentative deal for addressing key elements of the overhaul of downtown’s City Market block, including reskinning the Gold Building and renovating the adjacent Ohio Street parking garage.
