Lender takes action on Renaissance Bay project
An incomplete $150 million development that was supposed to feature 305 luxury condominiums along a 25-acre lake on the north side of Indianapolis has been placed in receivership.
Development/Redevelopment
Articles
Broadbent spins off construction business
Beleaguered local developer The Broadbent Co. plans to spin out its construction arm as an independent company as of Jan. 1.
Duke/Browning team to develop building at new Wishard
The team, which plans to build an office building in the 200,000-square-foot range, beat out six other groups that submitted proposals.
State pushing to keep building-review wait times down
Wait times in the plan-review process for non-residential projects increased dramatically this year, creating a backlog of cases.
U.S. home construction up after two months of declines
Locally, building permits were up 17 percent in the nine-county area, from 222 in November 2009 to 259 in November 2010.
North of South project clears rezoning hurdle
The Metropolitan Development Commission agreed to rezone 14 acres of land, which houses a parking lot north of South Street between Delaware Street and Virginia Avenue downtown, to accommodate the $155 million mixed-use project.
$7.5M Fletcher Arts project gets back on track
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project just west of the intersection of Virginia Avenue and East McCarty Street.
Summit Realty plans to grow into new headquarters
Summit Realty Group is building out a new headquarters in a historic downtown building as its principals embark on an aggressive growth plan for the privately held company.
St. Francis Hospital project targets Greenwood’s growth
The $20 million facility would attempt to capture some of the 32-percent growth in population Greenwood experienced from 2000 to 2009.
Historic downtown building poised for overhaul
DLZ Indiana closed in September on the century-old building at 157 E. Maryland St. and plans to spend nearly $2.3 million renovating it.
Foreclosure washes away water park plans in Fishers
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
Keystone plans mixed-use project on Madison Avenue
A local developer is planning a $2 million mixed-use project for a vacant parcel along Madison Avenue just south of downtown.
Start of downtown North of South project in flux
The developer of the $150 million mixed-use project in downtown Indianapolis had hoped to start construction by the end of the year. But delays in getting the project zoned properly likely will move the start date back.
Diversity key to west-side revitalization plan
Over the last few months, a wave of events has given momentum to grass-roots efforts to revive the West 38th Street corridor and its broader neighborhood, which includes Lafayette Square Mall.
State gives Speedway $2.9M for blight cleanup
Indiana Lt. Governor Becky Skillman says the grant will pay to demolish old building foundations, deteriorated pavement and concrete slabs in the downtown business district.
Trail Side project faces another hurdle
A $10 million apartment and retail building planned for 875 Massachusetts Ave. was supposed to have broken ground by now. But difficulty in closing the sale of tax credits that will be used to finance the project could cause the deal to unravel.
Redevelopment planned for vacant car dealership
The 2.5-acre property might be retrofitted by late spring for fast-food, retail and possibly medical office users.
Part of City Market renovation project put on hold
City planners have downsized their renovation plans because project bids came in too high to meet the $2.7 million budget.
Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
Indianapolis-area experts see bright spots amid ongoing real estate weakness
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.