The Carmel City Council on Monday voted to have its four-person finance committee look into what led to $18.5 million in cost overruns on the Hotel Carmichael project. It rejected a proposal have the entire council involved in the review.
Spending on U.S. construction projects rose 1.8% in January, helped by strong gains for home construction and government building projects.
The U.S. Commerce Department reported that builders started construction on 1.57 million homes, a decline of 3.6% from 1.63 million units in December. That had been the highest point since late 2006 at the peak of the housing boom of the last decade.
The city is just six months from a tentative opening for the first piece of the justice campus project, the 37,000-square-foot Assessment and Intervention Center. Construction on other buildings in phase one is well underway, and the city has started planning for phases two and three.
The cost of the 122-room, city-backed hotel has swelled to $58.5 million, up from $40 million when the Carmel City Council green-lighted it two years ago. Some councilors have called for an audit to dig into the details.
The district said the facility will be built behind Noblesville High School on Field Drive, replacing a former transportation building.
Original plans called for a 99,000-square-foot, seven-story building with 104 Moxy rooms and 102 AC Hotel rooms. The new plan includes 126 Moxy and 119 AC rooms in a structure of just more than 113,000 square feet.
Calling her state’s roads “the most beat up and dangerous in the country,” Michigan Gov. Gretchen Whitmer announced Wednesday that she will borrow $3.5 billion to rebuild deteriorating highways and bridges over five years.
The board approved eight bids—mostly to local firms—for the first and second phases of the $360 million project.
Correspondence obtained by IBJ between town officials and the developer reveal a tug of war over information on the hotel’s status and a disagreement over whether the company has violated a project agreement.
A big December was not quite enough to make last year’s construction pace exceed 2018’s. It was the first year since 2011 that fewer single-family building permits were filed in the area than in the previous year.
State highway officials expect to close a section of the main route between Indianapolis and Bloomington for 10 months in 2021 during work on the next stage of the Interstate 69 extension project.
Progress on the 126-room Wilshaw, at the southeast corner of Main and 16th streets, has been stalled since early July while Indianapolis-based developer Loftus Robinson awaits the release of its first loan installment to finance the project.
The land near Interstate 69 and 106th Street had previously been targeted by Sun King Brewing Co. as a location for a major brewery and tasting room.
Indianapolis-based Circle City Rebar will continue to operate under the leadership of Frank Davis, who founded the firm in 2005.
Indianapolis-based Gemco Constructors LLC has acquired Carmel-based Real Mechanical Inc., a mechanical contracting firm founded in 1978.
The $20 million Bands and Orchestra Building and the $40 million Data Science Building will be among a string of tech-related construction projects by Purdue.
The retirement community operator had revenue of $51.4 million last year, up 4% from 2017, according to its Form 990 tax return.
Labor- and construction-focused organizations are hyper-focused on meeting the future workforce as early as possible.
Sources said Eight Eleven Group is hoping to build a five-story office building, an adjacent four-story apartment structure and an underground parking garage where 200 to 250 people will be employed.
