Plans for permanent stage at White River State Park finally coming to fruition
The project’s $15.75 million second phase is under construction now and will bring a permanent concert venue to the 250-acre park when it’s finished in June.
Development/Redevelopment
Articles
Owner seeking buyer for Lafayette Square Mall
Lafayette Square Mall is up for sale. And whether the Indianapolis-area’s third largest shopping center remains a retail property or is redeveloped into something else will be determined by the buyer.
Developer plans 68-acre project with $32M space park, bowling alley, go-kart track
A Westfield developer’s plans for 68 acres next to Grand Park include a major planetarium and space science center, laser tag venue, jump park, bowling alley, indoor/outdoor go-kart track and driving school.
Children’s Museum, city join forces to find options to save historic Drake building
The process will give developers an opportunity to introduce ways to preserve the 91-year-old building at 3060 N. Meridian St., which the museum had planned to demolish.
Litz & Eaton co-founder facing three lawsuits, including one from his former partner
Brad Litz, who created Litz & Eaton in 2011 is facing multiple lawsuits from a lender and one form his former partner, John Eaton,
Penske’s IMS deal means hundreds of acres of opportunity, real estate experts say
The acquisition of Hulman & Co. will give Penske Corp. control of about 37% of all the land in Speedway, making the company the town’s single-largest landowner. Roger Penske said he wants to take advantage of that land.
Hotel plan for King Cole Building gets go-ahead from IHPC
The IHPC voted unanimously to green-light construction plans for converting the King Cole building into a hotel, along with a new penthouse on the roof of the 11-story building suited for a restaurant or bar.
Condos are in the works for Carmel’s central core
City officials have long sought to diversify housing options by introducing for-sale condominiums and town houses into a market saturated by hundreds of high-end apartments.
St. Vincent faces expensive growth options
The hospital system’s 45-year-old campus will likely need hundreds of millions of dollars in upgrades in coming years to keep it competitive long term.
Program to spur growth is not limited to poor communities
The area that includes the Fletcher Place neighborhood and the southeast corner of downtown is one of the hottest parts of Indianapolis, yet it’s included in a federal program designed to spur investments in poor neighborhoods.
Local developer inks deal to buy 17-acre site from airport
The undeveloped site between Perry Road and Airtech Parkway is adjacent to the Shops at Perry Crossing and the Plainfield Commons shopping center.
Carmel-based builder that launched during recession just keeps growing
Old Town’s sister companies are continuing to develop projects in Carmel, working on a large mixed-use development that will help transform downtown Westfield, and expanding their reach into West Lafayette, where the company is part of a $1 billion project being constructed next to Purdue University’s campus.
Four local development projects picked to receive $35M in incentive funds
Indianapolis Mayor Joe Hogsett said Tuesday that the city intends to use New Markets Tax Credits from the U.S. Department of the Treasury to support development projects involving the Madam Walker Legacy Center, the Wheeler Mission Center for Women and Children and two other groups.
Council committee approves TIF designation for Twin Aire site
A City-County Council Committee on Monday recommended approval of a new tax-increment financing district for the Twin Aire neighborhood, which could lead to development opportunities in an area that will soon be home to the city’s new criminal justice complex.
Emails: Ambrose exited Waterside project 2 weeks after city rejected request for more funding
The Indianapolis-based developer asked the city for an increase of more than $10 million to its incentive package. But following meetings and email exchanges, city officials rejected the request, calling it “not feasible.”
IHPC members pan design of proposed 22-story addition to Morrison Opera Place
Members of the Indianapolis Historic Preservation Commission on Thursday said they would be hesitant to support the design for the proposed $60 million, addition. One even called it a “brutal proposal.”
Bottleworks adds three more tenants to Garage Food Hall lineup
The Garage Food Hall is part of the much larger, 12-acre, $300 million Bottleworks development at 850 Massachusetts Ave. that will include retail, residential, office and restaurants, as well as a hotel.
Residential real estate developer Onyx+East hires new chief executive
Kelli Lawrence had been a principal partner at Indianapolis-based multifamily development firm Cityscape Residential for the past six years.
Plans for King Cole Building call for $21M redevelopment, Motto hotel
Indy Propco LLC, which has owned the 11-story building at 1 N. Meridian St. since January, wants to turn the property into a Motto by Hilton that would have at least 116 rooms, according to plans recently filed with the Indianapolis Historic Preservation Commission.
Ambrose is mum, but experts say it likely ran into financing problems for $1.4B Waterside
Real estate developers and experts suspect the firm couldn’t get access to enough capital to move forward with the massive, 103-acre development. Opinions are mixed on whether the site should remain intact or be split into multiple projects.