Indiana University Health said Monday the cost of its new downtown hospital complex will now top $4 billion, an increase of 60% over previous estimates, due to higher construction costs and a major increase in the number of patient rooms.
Interest in new homes in central Indiana continued to slow dramatically last month, according to the latest statistics from the Builders Association of Greater Indianapolis.
Construction of the 9,500-seat, $160 million stadium in Worcester was managed by Gilbane/Hunt, a joint venture of Gilbane Building Co. of Providence, Rhode Island, and Aecom Hunt Construction Group Inc. of Indianapolis.
If approved by voters, the referendum will authorize the district to issue bonds, which will yield an estimated $410 million for construction projects.
The infrastructure-improvement project is smaller than the $50 million plan that IndyGo dropped after an October board decision to alter plans for the Blue Line rapid-transit bus line on the west side.
With the county experiencing the second-highest growth rate in Indiana, builders and apartment developers have not been able to meet the increasing demand for affordable and workforce housing.
The Ohio-based venture firm, which gets its funding from Indiana and Ohio companies, invests in tech startups developing products that can benefit those Midwestern investors.
If approved, Traditions at Grand Park would be developed near the intersection of West 186th Street and Kinsey Avenue.
The 31-year-old building will be torn down so construction can begin on the $22.8 million Fishers Arts & Municipal Complex, which is expected to open in the spring of 2024.
Indiana University School of Medicine’s planned medical education and research building marks the largest construction project in the history of the school.
Single-family building permits have fallen on a year-over-year basis for the past nine months and in 12 of the past 14 months.
When completed (just in time for the 2023 Indiana State Fair), the $50 million pavilion will offer 197,000 square feet of interior space.
The local resurgence is spurred by three of motorsports’ biggest brands—Andretti Autosport, Rahal Letterman Lanigan Racing and Arrow McLaren SP.
The construction of tens of thousands of rental homes could help rebalance the broader housing market. But critics say build-to-rent arrangements are exacerbating long-simmering inequalities by making homeownership even more elusive.
Rising mortgage rates, supply-chain issues, increasing costs and limited lot availability are hampering the market, according to industry experts.
The facade-replacement project is expected to resolve to longstanding water-infiltration issues at the 30-story towers.
Ohio’s largest-ever economic development project comes with a big employment challenge: how to find thousands of construction workers in an already booming building environment when there’s also a national shortage of people working in the trades.
A circle seems like a simple shape, but this is a very complex puzzle for city officials. For this week’s edition of the IBJ Podcast, Dan Parker, director of the Indianapolis Department of Public Works, talks with host Mason King about the direction the city is taking and what roadblocks could be in the way.
But there’s still a lot of work to do. Building of passenger stations has yet to begin; all progress so far has laid the groundwork for future construction.
Officials are working on finding the $60 million, which will likely include federal funding, to pay for it.
