Cultural Trail breaks ground on $30 million expansion
The Indianapolis Cultural Trail Inc. is starting work on its 2-mile expansion, the trail’s first extension since it opened in 2013.
Development/Redevelopment
Articles
Two Noblesville businesses plan to spend $11M on new HQ buildings
The city has a preliminary agreement in place with WoodTurningz Inc. and Texon Towel and Supply Co. to abate most of their property taxes over the next eight years if the companies meet hiring goals.
Bottleworks’ second phase moving ahead with no residential but greater emphasis on office space
The second phase alone is likely to take about three years to build, with construction commencing in mid-2022 at a tentative cost of nearly $100 million. The total project cost is expected to push $300 million.
Carmel offers new details on $47M ‘1st on Main’ development
Plans call for the 1st On Main development—previously known as Lot One—to include a four-story office building with first-floor restaurant space and a private rooftop terrace, luxury condominiums, upscale apartment units and a parking garage.
Demand swamps units at new disabled housing projects
Three developments have opened this fall: one just south of Indianapolis International Airport, one on the near-east side, and one in Fishers. A fourth is planned for Whitestown.
Indy plans to use $16.5 million to improve deteriorating city playgrounds
More than two dozen Indianapolis parks will receive funding allocated to Indianapolis under the American Rescue for renovations to their playgrounds, Mayor Joe Hogsett’s administration announced Thursday.
Lebanon plans 95-acre development anchored by $25M sports facility
The massive hospitality and entertainment district is slated to be anchored by a $25 million multisport venue surrounded by apartments, hotels, medical office buildings, restaurants, stores, senior-living facilities and condos.
Developer puts Mass Ave office building across from Bottleworks under contract
Indianapolis-based Landmark Properties plans to buy the five-story Center Township Trustee’s building, with an eye toward office and first-floor retail uses.
Shimmering hotel, office center planned along downtown’s Canal Walk
Featuring an exterior of clear and light-colored glass, the building would replace the current headquarters of the American College of Sports Medicine while giving the group a new home.
Potential transformation of City Market could cost up to $35M, report says
City officials will present the results of the 209-page report on potential options for redevelopment at a City Market board meeting Thursday, along with concrete plans for $5 million in maintenance and basic improvements.
Here’s a peek at downtown’s newest hotel before it opens in October
The $35 million boutique hotel at 141 E. Washington St., at the corner of Delaware Street, will open in a remodeled 60,000-square-foot building that was constructed in 1969 for State Life Insurance Co. and was the home of local law firm Riley Bennett & Egloff from 2003 to 2019.
Fishers District retail area, apartments sold to Chicago firm in ‘landmark’ deal
Developer Thompson Thrift, which began planning the $110 million development in 2015, sold the property in a deal that brokers said “attracted nationwide investor interest and achieved record-breaking pricing.”
Hyde Park marks pivot in Noblesville approach
Noblesville-based Bedrock Builders Inc. is embarking on a $142 million, 274-acre, master-planned, multi-use development smack in the middle of the city’s Corporate Campus.
Henke Development plans expansive clubhouse for Zionsville’s Holliday Farms community
Westfield-based Henke Development Group had its development plan for a nearly 79,000-square-foot clubhouse featuring a slew of golf- and non-golf-related amenities approved this week by the Zionsville Plan Commission.
Noblesville planning 200-acre innovation district on city’s southeast side
Innovation Mile, as it would be called, aims to bring medical technology, life science innovation, wholesale trade, professional and technical services companies to Noblesville by offering shovel-ready sites and shared amenities.
Republic Airways outlines plan for $200M training facility, corporate HQ project in Carmel
The $200 million headquarters development plan by Indianapolis-based Republic Airways Holdings Inc. and Kite Realty Group Trust would result in Republic becoming the largest employer in Carmel.
Health care real estate firm Cornerstone forms joint venture with KKR
Indianapolis-based Cornerstone Cos. Inc. said it teamed with the New York City-based global investment giant to acquire and develop more than $1 billion in real estate assets over the next few years. The deal includes the recapitalization of 25 Cornerstone properties.
Basic updates for repurposing of City-County Building would cost more than $35M
City officials on Monday released a long-anticipated request for developers to submit ideas for reuse of the 28-story Indianapolis City-County Building, along with studies that show it would take more than $35 million in basic upgrades to repurpose the structure.
Affordable housing group eyeing expansion
A recent change in leadership at Carmel-based Merchants Affordable Housing Corp. has turned the not-for-profit’s attention to creating more units, both near and far from home.
Golf venue swings into area across White River from downtown
Back 9 will feature a three-story building with 75 golf bays, a 350-person music pavilion, and a handful of bars and restaurant spaces, as well as meeting areas and a game area.