City Center expansion plans could cost $100M
Developer Pedcor Cos. unveiled conceptual designs for six more buildings at Carmel City Center that could cost as much as $100 million to build over the next four to five years.
Development/Redevelopment
Articles
Commercial blitz may follow Westfield’s housing boom
Poised for a development boom in those heady days before the real estate market collapsed, Westfield appears back on track for growth. Residential activity never stopped, but builders are picking up the pace in response to increasing demand. If history holds true, a commercial construction blitz will come next.
Union Station gets new scrutiny after spate of repairs
Seeing small repair projects pile up at the city’s iconic 19th-century train station, city officials have launched an effort to assess the building’s condition with the most thorough inspection in several years.
Indy firm proposes redevelopment of ISU towers
Indiana State University is putting on hold its plans to demolish two 15-story former residence halls on the Terre Haute campus after an Indianapolis-based developer proposed taking them over.
Whitsett pivots to market-rate apartment projects
Next up is a renovation of the vacant Consolidated Building and a redevelopment of the Indianapolis Star headquarters property, both on North Pennsylvania Street. The projects will add 600 market-rate apartments to downtown.
Fishers weighs incentives for office building
Construction firm Meyer Najem Corp. is planning a $5.5 million office building in downtown Fishers to house its growing operations and other high-potential businesses. A proposed deal calls for the town to contribute 1.7 acres of land and $1.4 million.
DMD’s Thies pushing for better design, more projects
Adam Thies, 36, arrived from the private sector in October 2012 and is beginning to put his stamp on the government agency that guides city development
Westfield gearing up for big hospitality play
Westfield’s massive Grand Park Sports Campus doesn’t open until March, but city leaders already are focused on making sure the 1 million-plus visitors they expect next year want to come back.
Gershman co-founder goes solo
A heavy hitter among commercial real estate developers has left the firm he helped found more than 20 years ago, to start his own company, and has taken most of its employees with him.
Preservationists seek expanded tax credit program
Advocates of historic preservation made a pitch Monday for an expanded tax credit program to help developers invest in older buildings – particularly in small downtowns.
Tipton County won’t stop work at Chrysler plant over permits
Three residents have appealed the Tipton County planning director’s decision to extend without public notice the building permit originally given to Getrag, which stopped construction at the factory in 2008.
Future murky for Carmel’s 2-story development rule
City leaders are embroiled in a debate over the future of Range Line Road, through the heart of Carmel’s redeveloped downtown. Special density zoning rules are intended to create a consistent look and keep residents from bearing the brunt of the city’s significant infrastructure investment. The question is whether it’s working.
Buyer of Illinois Building envisions conversion into upscale hotel
A high-profile local developer has bought the Illinois Building and is considering offers to convert the downtown landmark into a boutique hotel that could be the city’s first five-star lodge.
Funding for Mounds Reservoir study moves ahead
The state will provide a $600,000 grant for the next phase in a proposed project to build a $400 million reservoir in central Indiana.
Proposed GM plan reserves space for soccer stadium
One of the players vying to redevelop the former General Motors metal-stamping plant has set aside room in his plans for a roughly 10,000-seat stadium where his own North American Soccer League franchise could play.
Local developer plans six-story office building in Castleton
Edgeworth Laskey Properties LLC, which has developed three buildings within Allison Pointe Park, bought the 10.5-acre parcel along Interstate 465 from a suburban Chicago company.
Summit partners seek tax break for $14M distribution facility
They plan to spend $14 million to build the 542,000-square-foot warehouse on 33 acres on the city’s west side. One condition of the tax abatement is finding a user that would create at least 50 jobs by 2018.
Pace slows, but Carmel redevelopment panel still busy
The Carmel Redevelopment Commission has a lot to do—with or without staff support. Mayor Jim Brainard and the city’s director of administration will handle the volunteer panel’s day-to-day affairs for the immediate future.
Kite reports smaller quarterly loss on much higher revenue
The Indianapolis-based real estate investment trust said that it lost $900,000 in the quarter, compared with a loss of $3 million during the same period a year earlier.
Conference eyes preservation as development tool
A national gathering of preservation experts this week in Indianapolis are toasting some of the success stories historic preservation can foster by helping spark revitalization in neighborhoods and city centers.