The city is partnering with a private developer to turn a former factory building into condominiums, retail and event center space—one of several projects that could help revitalize its downtown.
The proposals for the highly visible, 11-acre site suggest a host of office, retail and housing options, with two calling for a boutique-style hotel.
Cityscape Residential hopes to break ground in the spring on the 306-unit development, which would be within walking distance of the Shops at Perry Crossing.
The flurry of activity comes after Gershman transitioned to second-generation leadership and ditched its traditional bread-and-butter retail projects in favor of more modern mixed-use development.
Residents of the Hudson condominium complex are suing the owner after the latest round of problems caused $6 million in damage to the structure.
Since Virginia-based Falcon’s Nest purchased the 400-acre development in 2011, residential construction has slowly been increasing. Now, some commercial development is beginning to follow.
Members of the Indianapolis Historic Preservation Commission say they postponed a vote on the Mass Ave project at the request of City-County Council members who argue the building’s massive screen could run afoul of billboard rules. Commission members also questioned the building’s design and even its bold colors.
Chase Development LLC plans to build 12 condos ranging from nearly $400,000 to $1.2 million as part of its 500 Park Residences project at the northwest corner of East Michigan Street and Park Avenue.
Residents of downtown's The Packard condominiums have settled a two-year-old lawsuit with developer Kosene & Kosene Residential.
The market is starting to wake up after years of slumber caused by the housing downturn.
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it’s sold.
The proposed Residences of Lawrence at Fort Ben subdivision would be the first single-family project on the former army base since it closed in 1995.
The four projects, one of them condominiums, would add nearly 280 units within about a four-block stretch from East Michigan Street north to Massachusetts Avenue.
Figures for May add to evidence that about 14 percent fewer homes are selling this year in the nine-county area compared with the same point in 2013. But sale prices still are on the rise.
82 Flats, which opened last year and is 95-percent occupied, could fetch $35 million for its developer, Cityscape Residential, formerly known as Hearthview Residential.
Developer J. Greg Allen had planned to build condominiums on the site before the housing market crashed. He relinquished the property to his lender, BMO Harris.
Paul J. Page was one of four principals of troubled Indianapolis-based condo firm Page Development, which spearheaded the Villagio at Page Pointe project at the south edge of downtown.
Dennis Dye will become a partner at Whitsett, a prolific developer of affordable housing. He has served two stints at Browning totaling about 20 years.
One of the city’s most prolific developers of affordable housing hopes to buy the Indianapolis Star headquarters to redevelop the property into apartments or condominiums.
An Indianapolis developer’s last-minute bankruptcy filing halted the auction of a struggling downtown condominium project.
