Construction on 400-unit apartment community finally to begin at former Pittman Farms
A five-year legal battle among members of the Pittman family delayed the project. Those disputes were settled two years ago.
Development/Redevelopment
Articles
City looking to establish development plan for Indiana Avenue corridor
The Department of Metropolitan Development on Thursday issued a request for expressed interest, or RFEI, which will allow the officials to gauge the appetite developers have to devise an overall plan for the Indiana Avenue neighborhood.
Tale of two downtowns: $9B set to be invested in projects, even as business district struggles with recovery
Many parts of downtown are thriving—particularly neighborhoods, where rents are rising, people have to stand in line for a lunch table, and investments are flowing. Other parts—especially downtown’s central core, where many workers might come to the office only once or twice a week—are limping along, pockmarked by vacant storefronts, panhandlers and crumbling sidewalks.
Keystone unveils renderings for $1B Eleven Park; demolition to start in May
The developer plans to put a 20,000-seat soccer stadium for the Indy Eleven right along the White River, which is on the western edge of the former Diamond Chain manufacturing site.
Architect hopes to build on momentum along White River on downtown’s west side
As envisioned by Stephen Alexander, the partially redeveloped area west of the White River would be known as Stockyards District. Indianapolis-based Hotel Tango Distillery is in the process of relocating and consolidating its production, warehousing, and fulfillment operations to the area.
Hamilton County planning new 911 communications center in Noblesville
Plans call for newly constructed 50,000-square-foot facility to house a dispatch center, emergency management center and a child care facility for Hamilton County employees.
Council committee OKs $18.8M in TIF bonds for City Market East
A City-County Council committee passed a group of proposals Monday night to set the stage for the upcoming $180 million City Market East project.
Architects push for restoration of historic preservation tax credit
The effort is meant to create more incentive for developers to rehab vacant, deteriorating institutional structures in communities throughout the state.
City eyes updates to Union Station overpasses
City officials plan to pour at least $10 million into structural and aesthetic improvements to five CSX railroad overpasses and the sidewalks and roads that run beneath them on the south side of downtown.
Downtown’s Allen Plaza sold to local investment group
The building’s 58,800 square feet of office and retail space is now mostly vacant, following exits in recent years by Scotty’s Brewhouse, HomeAdvisor and third-party logistics company Backhaul Direct.
Motorsports team HMD converting former Marsh to new Brownsburg headquarters
Renovations to the building are already underway, with HMD expected to move into the facility sometime in the summer.
Developer reveals details for downtown mixed-use project south of revamped Stutz campus
New York City-based SomeraRoad Inc. has submitted plans to city officials for Stutz South, a five-story complex with 270 apartments that would occupy most of the block between West Ninth and 10th streets and Capitol Avenue and Roanoke Street.
Noblesville looks to redevelop former site of Firestone plant
Municipal or not-for-profit buildings could be constructed on the site, which has been unused for more than a decade while environmental testing and remediation took place.
Downtown heliport expected to remain open at least through February
The Indianapolis Airport Authority said it hopes to receive tentative approval to decommission the facility at 51 S. New Jersey St. by the end of February. It is working with the Federal Aviation Administration to secure the designation, which is crucial for future redevelopment of the site.
Council committee OKs $16M in TIF funding under new policy
The redevelopment of the former Broad Ripple Kroger and the Fountain Square White Castle could be the first residential projects to receive tax-increment financing from the city without including affordable housing units.
New Stutz owner planning hundreds of apartments by downtown campus
Officials with New York City-based SomeraRoad Inc. told IBJ the company is in the pre-development phase of at least two projects on land adjacent to the multi-building Stutz complex at 1060 Capitol Ave., which is in the midst of a $100 million renovation.
CIB approves another $50M in funding for growing Pan Am Plaza project costs
The additional financial support will come from the Capital Improvement Board’s fund balance, which was bolstered in October with $50 million in revenue replacement funds through the federal American Rescue Plan Act.
Dora submits plans for Tru by Hilton hotel along U.S. 31 in Carmel
The Fishers-based hotel developer and manager and Indianapolis-based American Structurepoint filed plans to build a five-story, 126-room hotel on 1.13 acres at 12164 N. Meridian Street.
MDC approves $25M in extra funding for Pan Am Plaza redevelopment
The approval allocates $25 million from the city’s downtown tax-increment financing district to pay for the acquisition of the basement level of the project from developer Kite Realty Group Trust, which plans to build an 800-room hotel and an addition to the Indiana Convention Center.
City considering additional $25M in funding for Pan Am Plaza project
The $550 million project includes a $125 million expansion of the Indiana Convention Center, as well as an 800-room hotel being developed by local developer Kite Realty Group Trust. A second 600-room hotel is planned for a later phase of the project.