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.
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.
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.
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.
The undeveloped site between Perry Road and Airtech Parkway is adjacent to the Shops at Perry Crossing and the Plainfield Commons shopping center.
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.
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.
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.
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.”
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.”
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.
Kelli Lawrence had been a principal partner at Indianapolis-based multifamily development firm Cityscape Residential for the past six years.
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.
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.
The city has spent the past several years remediating the former railyard site and marketing it for potential development.
Plans for the development include a 220-room hotel and 32 residential units. The addition would boost the existing historic building from four to 26 stories.
Five years after the prominent developer upped its business ambitions—going from a home-renovation firm to high-end, multi-home projects—the firm is unraveling.
A local investment group plans to spend $9 million to $10 million to construct the four-story hotel at 324 Wilkins St. If approved, the development would bring a new, fast-growing midscale hotel brand to Indianapolis.
An upscale apartment building in downtown Indianapolis is expected to be acquired at the end of this month by a local firm that is planning an expansion project that will almost triple the number of units in the property.
The Indianapolis City-County Council on Monday night approved nearly $10 million in financial incentives for a Denver-based developer that is planning a 13-story apartment, retail and office project across the street from the Indiana War Memorial.
