Indianapolis has initiated the redevelopment process for Bush Stadium, its shuttered sports landmark. The Metropolitan Development
Commission has hired a pair of local firms for $25,000 to appraise historic Bush Stadium–a first step toward reuse or, more
likely, at least partial demolition.
Jaron Garrett hasn’t developed anything like the 25-story tower he’s proposing. And he doesn’t come close to having the financial
muscle to pull off the $30 million project on his own. But Garrett is determined to sell his vision of transforming a downtown
eyesore at Washington and Pennsylvania streets into a twisting glass-and-steel apartment tower.
With the Nov. 6 mayoral election looming, Mayor Bart Peterson seems content to wait for a third term to choose who will redevelop
the Market Square Arena site. He’s willing to put off the opportunity to wipe past failures clean in large part because the
political climate has changed.
Fallout from the subprime mortgage fiasco has scuttled a developer’s plans to acquire Pan Am Plaza and could complicate a
host of other development deals under way in Indianapolis.
A Texas firm has agreed to buy Pan Am Plaza’s 12-story office building and skating rinks and is planning to replace the rinks
with a more-than-$50-million restaurant and retail development.
After years of designing banks, churches and condo conversions, Prince/Alexander Architects Inc. is working
with unnamed partners on a plan to replace its headquarters with a $47 million, 24-story hotel and condo development called
West Merrill Tower.
The questions these days among residents of Lakes at the Crossing, a quiet community of 77 condos tucked behind a strip center
and an office park along 86th Street at Keystone Avenue, are: Who will sell, and for how much?
South-side developer J. Greg Allen is pitching a massive project along Pennsylvania Street downtown that includes hotel towers–one
28 stories, the other 17–to be built on property now used mainly for surface parking.
An Indianapolis firm that helped haul away the demolished DaimlerChrysler Corp. foundry last year has placed a mechanic’s
lien on the automaker’s property, potentially complicating the sale of the 34 acres already challenged by environmental issues.
A local firm plans to redevelop a quiet corner near the Fashion Mall into a mixed-use behemoth with a full-service hotel,
5,000-seat theater, hundreds of condos, and more than a million square feet of office and retail space.
A high-profile local firm that quietly negotiated last fall to salvage the stalled redevelopment of the Market Square Arena
site abandoned its plans when the city decided instead to solicit new proposals early this year.
Bustling foot traffic at lunchtime and at night helps sustain many of the restaurants, shops and galleries in the vibrant
Mass Ave downtown neighborhood. But few of the Massachusetts Avenue shoppers and diners on foot venture east of the psychological
barrier that is College Avenue.
Two new proposals for the parking lot formerly known as Market Square Arena are shorter and less dramatic than plans for a
31-story tower that fell through last year. But each of the new sets of plans has its flourishes.
Some local developers were left scratching their heads last month when the federal government chose an out-of-state company
to develop an FBI field office in Castleton. The U.S. General Services Administration awarded the $38 million project to Lake
Winnebago Mo.-based BC Development Co.
The age-old concept of living above your workplace is catching on again in Indianapolis, just as the developers of Douglass
Pointe Lofts had hoped. The $2.65 million landmark at 25th and Delaware streets already will soon also be known for a diverse
roster of local businesses.
Kosene & Kosene Residential Inc. pioneered the downtown market for new-construction condos with luxury projects named after
classic cars. Now, the locally based company is striving to attract buyers for its latest project by adding a new standard
feature: affordability.
In the eyes of many at a rezoning hearing late last month, the developers from locally based Mann Properties were bad guys.
They wanted to build homes and a retail center
on 71 mostly wooded acres north of Crown Hill Cemetery. So when the Metropolitan Development Commission denied Mann’s request,
the crowd erupted in applause.
Debate over a developer’s plan to buy 71 acres of woods and wetlands on Crown Hill Cemetery’s northern edge for a retail-and-residential
project will come to a head this week when the Metropolitan Development Commission votes on the proposal.
Buckingham Cos., the Indianapolis-based owner/manager of more than 60 apartment complexes in five states, has broadened its
development sphere to include three square blocks of downtown real estate.
J. Greg Allen & Associates has made a name for itself building suburban subdivisions, office buildings and retail complexes.
Now, the developer is poised to tackle a pair of projects downtown.
