Aging building gets spruced up
Another rundown building near the northwest corner of Washington and Pennsylvania streets is getting some attention after years of neglect.
Development/Redevelopment
Articles
White River trail will weave in stories
NINebark, a landscaping architectural firm, is making six large storyboards so that users of the planned White River Greenway
will learn about the area’s industrial history.
School makes move into historic Lockerbie building
The private Todd Academy plans to move into a historic building at the northwest corner of East and New York streets in Lockerbie
Square.
Jefferson Plaza renovation approaches end
The Jefferson Plaza renovation, which has been renamed Allen Plaza after its developer, will include restaurants, office space, condos, and is also working to achieve LEED environmental certification.
Police museum planned
The not-for-profit Indianapolis Historical and Educational Foundation is planning a police museum in the first floor of an old warehouse along Pennsylvania Street across from Conseco Fieldhouse.
Angie’s List chief builds company, rebuilds Holy Cross
For several years, Angie’s List CEO Bill Oesterle also has been quietly attempting to revitalize the near-east side.
Distribution holds promise for Central Indiana
A new report shows that, despite a sluggish national economy, the Indianapolis area should continue to attract industrial
businesses and distribution centers next year.
Fishers tables $100M development
An Ohio developer and the town of Fishers have agreed to cancel a 2007 development agreement that called for a $100-million
mixed-use project featuring 250,000 square feet of retail space and 150,000 square feet of office.
Old St. Francis Hospital may become mix of retail, senior apartments, offices
The city of Beech Grove is working on a redevelopment proposal for its St. Francis Hospital campus. Tentative plans call for
a mix of office space, apartments for seniors, and retail space.
Mayor says some of 38 TIF districts have problems, might need reorganization
Mayor Greg Ballard worries his predecessor, Bart Peterson, may have overreached with his ambitious tax-increment-financing
district for the last phase of Fall Creek Place. That phase of the renewed urban neighborhood isn’t producing enough revenue
to support its $6.2 million in outstanding bonds. And Ballard is not sure all of Marion County’s 37 other TIF district are
necessary, either.
Developer betting on cottage homes
Buyers in Seattle, Milwaukee and even Bloomington have snapped up new cottage homes in developments that
turn the McMansion trend on its dormer-decorated head. But will Indianapolis buyers have a similar appetite
for the tiny energy-efficient homes clustered around community greens? A local developer is betting they
will.
Sports Corp. made city a sports giant, but real estate plans fell short
Construction of Pan Am Plaza in the mid-1980s was a major step in the evolution of Indianapolis into a sports town worthy
of hosting a Super Bowl. But the office building, parking garage, skating rinks and public gathering place came up short over
the years in other ways for both taxpayers and developer, the Indiana Sports Corp.
Ralston Square development lures bar, hotel, bowling alley
A trendy bar and an upscale hotel have agreed to anchor the 11-story Ralston Square project slated for South Street between
Meridian and Pennsylvania streets. The developers of the $60 million mixed-use project are moving forward after landing the
tenants necessary to secure a loan commitment, said Brian Epstein, president of locally based Urban Space Commercial Properties
and a partner on the project.
Group plots public-private revival for midtown Meridian neighborhoods
There was a time when residents of Meridian Kessler, Butler Tarkington, and Broad Ripple viewed North Meridian Street as a
connection between their neighborhoods. These days, the road feels more like a divide-an intimidating commuter highway between
downtown and the northern suburbs that discourages pedestrian and bicycle traffic. A partnership of community groups including
the Meridian Street Foundation is hoping to change that by giving the neighborhoods a collective identity–Midtown–and mixing
private and public money to fund major infrastructure improvements.
Developers vie for property by Central Library
Two high-profile property developers are squaring off for the rights to transform a six-story apartment complex adjacent to
the Central Library downtown. Van Rooy Properties and Buckingham Cos. both submitted proposals to redevelop the Ambassador
apartments at 39 E. Ninth St., just north of the library.
Business leaders battle over real estate left behind by Payton Wells
The Malibus and Impalas disappeared from Payton Wells Chevrolet more than 18 months ago, but the controversy over the defunct
dealership at 1510 N. Meridian St. is far from being in the rearview mirror for some of the city’s top businesspeople and
developers. A court battle over the dealership’s properties could determine when and how the roughly six acres of prime land
are redeveloped.
Renovated Central Library spawns neighborhood revival
A local developer plans to spend up to $45 million building a “north village of downtown” on several parcels it has assembled
near the Central Library. Buckingham Cos. plans to build apartments, offices, restaurants and retail space-all surrounding
its headquarters in the three-story Stokely-Van Camp building at the southeast corner of Meridian and St. Joseph streets.
Premier Properties lays off workers as lawsuits, debt pile up
Premier Properties USA Inc. has eliminated about half its headquarters staff–more than 40 employees–as banks seize several
of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally
redirected rent payments and check fraud.
Developer pulls back on growth to survive precarious economy
The CEO of locally based Lauth Group Inc. says most people he knows in the business, even the steely types who always project
optimism, are privately nervous about the economic morass that began with a collapse in subprime mortgages.
Browning eyes airport land
Browning Investments is contemplating developing a business park just north of Indianapolis International Airport in what
would be the largest development to date in the so-called Minnesota Street corridor.