Shopping center on East 82nd Street lists nearly $10.4 million in liabilities and about $7.6 million in assets. The Chapter 11 filing follows a request to foreclose on the property from the center’s lender.
The Indianapolis Airport Authority board on Friday is set to approve a long-term land-use plan that will help steer future development in and around Indianapolis International Airport and its five smaller fields for decades to come.
E.Com Technologies LLC, which serves the large Centennial subdivision in Westfield, cannot expand its service territory without the state agency’s permission. Charges of anti-competitive behavior led to the decision.
As Eli Lilly and Co. outsources work and sheds unnecessary properties, it is making moves with surplus real estate that could establish the strongest physical connection between Lilly and downtown since the company was founded at Pearl and Meridian streets 135 years ago.
The $7.2 million project, to be financed with affordable-housing tax credits, involves retrofitting the three-story former Central Restaurant Products building to accommodate one- and two-bedroom apartments.
The lead developer on a long-delayed proposal to redevelop the former Bank One Operations Center has landed a powerhouse partner: apartment developer Gene B. Glick Co.
An Indianapolis Department of Metropolitan Development official says the city has plans to tear down the abandoned 15-story Keystone Towers complex at Allisonville Road and Fall Creek Parkway and seek proposals for redevelopment.
The City-County Council will consider Monday evening whether to allow the city to issue $98 million in bonds to finance a portion of the controversial $155 million development.
Interest rates on municipal bonds have ticked up in the last two months to pre-recession levels as investors have pulled their money from bond funds in droves. That pattern has begun, gradually, to reverse, but the higher rates could add to the cost of issuing debt for pending city projects.
We understand the concern expressed by some on the City-County Council over Indianapolis’ role in financing the $155 million project, but there are compelling reasons to approve it.
Plenty of opportunities await city officials bent on making downtown shine for the massive event.
Ambrose Property Group, a commercial leasing and development company headed by former Duke Realty Corp. broker Aasif Bade, took over for Brenwick, which is primarily a residential developer, at the beginning of the year.
The city’s Economic Development Committee, which was set to vote on the downtown project’s $98 million bond financing package on Tuesday, chose to wait until February after making a few changes.
Building permits filed for new homes in the nine-county Indianapolis area rose just 2.6 percent in 2010, to 3,720. That’s just 95 more homes than in 2009—the worst year for local home construction in more than a quarter century.
A downtown advocate who renovated and repopulated a commercial building on what was once a desolate stretch of Massachusetts Avenue hopes to do the same on Virginia Avenue, where he just closed on the purchase of three contiguous commercial buildings totaling 15,000 square feet.
Construction is set to begin soon on Community Health Pavilion, a three-story, 55,000-square-foot medical building to be built on six acres at 7910 E. Washington St.
Approval would let city issue $98 million in bonds to finance its portion of the $155 million North of South mixed-use project set to be built on 14 acres north of South Street between Delaware Street and Virginia Avenue.
The company last month broke ground on an 8,000-square-foot medical building near 86th Street and Allisonville Road. The project is the first of three buildings it plans to develop as part of Gardens at Castle Creek.
Financing for construction of a $10 million, mixed-use building at 875 Massachusetts Ave. closed Dec. 22, allowing developers to proceed with the project after a funding snag nearly killed it.
Company will purchase 23 acres and have Duke Realty Corp. build a 225,000-square-foot industrial facility in Lebanon Business Park. The move should be completed by December.
