Effort to save minority car dealer lands Bill Mays in ditch
PNC Bank last month sued Mays, one of the city’s most prominent black businessmen, charging he defaulted on a $3.5 million loan he received in 2008 that has an unpaid balance of $2 million.
Development/Redevelopment
Articles
Real estate deals picking up around Fashion Mall
Owners of the Sheraton Indianapolis are converting one of its towers into luxury apartments, and developers are vying to replace the vacant Woodfield Centre.
Kosenes take on ex-partner in court
Principals in Kosene & Kosene Development have sued a former partner, claiming he’s trying to cut them out of a city-supported deal to redevelop the former Bank One Operations Center downtown.
Central State redevelopment plan gets new life
A dormant plan to redevelop the 150-acre former Central State Hospital campus is starting to get momentum. Developers anticipate spending $100 million to $150 million to revamp the site. With online photo gallery
City Market set to oust 19-year tenant Enzo Pizza
Directors of the historic building have notified the pizza restaurant that it needs to have its equipment removed by the end of the day on Friday after the two sides could not agree on a new lease.
Children’s Museum holds key to Winona redevelopment
The Children’s Museum of Indianapolis is playing the role of lead developer for the abandoned Winona Hospital site.
New TIF districts could spur urban development
Indianapolis leaders have targeted four core urban areas for renewal, taking steps to create new tax-increment-financing districts to seed economic development there.
City proceeding with public safety complex at Eastgate
City-County Council grants approval for the city to enter into a 25-year lease with the owner of the former Eastgate mall to take 76,000 square feet for a Regional Operations Center.
Ratio finishing City Market design work
The architectural firm is set to be awarded a $120,000 contract to complete the work after the original designer of the renovations, Woollen Molzen and Partners Inc., disbanded last month.
Indianapolis council OKs razing of Keystone Towers
The City-County Council in Indianapolis has voted to spend $4 million to demolish the abandoned 15-story Keystone Towers and the long-vacant former Winona Hospital.
Fountain Square project to include concert venue
The new owner of a 110-year-old building in the heart of Fountain Square is planning a renovation and expansion that will turn it into a restaurant, bar and 450-seat music hall called Pioneer.
Retail, eateries planned for Keystone office area
A local developer’s $12 million project is transforming a four-story office building and five acres of surface parking lots adjacent to The Fashion Mall at Keystone into a new retail and restaurant destination.
Zionsville residents disagree on commercial development
After property tax caps crimped local dollars in Zionsville and a school funding referendum failed, many residents have decided it’s time to attract more commercial development. But they are tangled in a hot dispute over how to achieve that goal.
Another setback for The Uptown as judge appoints a receiver
A Marion County judge has appointed a receiver to take control of three properties involved in a long-delayed redevelopment proposal for College Avenue between 49th and 50th streets.
Eastgate redevelopment reaches crucial crossroads
Lifeline Data Centers, which bought Eastgate in 2008, plans to invest $10 million into the property this year if the Department of Public Safety moves forward with plans to lease 78,000 square feet.
City seeks bids for $300M sewage tunnel system
City officials are seeking bidders for the first phase of Indianapolis’ largest-ever public works project, an underground tunnel system equipped to store millions of gallons of raw sewage and prevent the excrement from flowing into local waterways.
Airport seeks broker to market ex-ATA HQ
The Indianapolis Airport Authority plans to hire a broker to market the 16.5-acre campus along Washington Street near Indianapolis International Airport once used by ATA Airlines. It has been vacant for three years.
School moving to vacant downtown building
A small private school that serves gifted and talented students intends to move to a downtown building that has been vacant since a daycare center moved out three years ago.
Two area landmarks make ‘Most Endangered’ list
This year’s list compiled by Indiana Landmarks includes the Taggart Memorial at Riverside Park in Indianapolis and a portion of historic downtown Greenwood.
Local developer seeks bankruptcy protection
Platinum Properties LLC, an Indianapolis upscale residential real estate developer, sought Chapter 11 protection on Monday, listing several huge debts to prominent local businesses and business people.