Ace Commercial Development plans to construct a build-to-suit development for an undisclosed client on the highly visible property. Real estate sources say the client is locally based Heritage Environmental Services LLC.
Two local buyers are angling to revitalize a century-old, 15-story downtown landmark that has confounded redevelopment attempts since its last tenants departed in the late 1990s. Ambrose Property Group and The Whitsett Group hope to transform the Consolidated Building into 98 apartments with first-floor retail or restaurant space.
A controversial downtown Indianapolis apartment building that never opened due to severe design deficiencies is a step closer to being ready for tenants after city officials granted the project’s new owner a zoning variance.
City Market officials are giving public tours of the catacombs beneath the marketplace, in the hope that someone will be interested in transforming the 20,000-square-foot space into a restaurant or event venue.
At least six reputable developers, both local and national, have toured the former General Motors plant near downtown Indianapolis since it closed last year, according to an official trying to market the property. Of those, two are taking a serious look.
The Metropolitan Development Commission’s plat committee has given local developer Flaherty & Collins Properties the go-ahead to include two upper-level pedestrian connectors in its plan to build a five-story parking garage downtown. The garage is part of a larger, $85 million development.
The developer of a five-story parking garage downtown is seeking city approval to build two upper-level pedestrian connectors to offer easier access to the garage, especially for employees of nearby OneAmerica Financial Partners Inc.
Local real estate pros say finding a reuse for the Indianapolis Star's HQ will be tricky. The newspaper is selling its labyrinth of buildings at 307 N. Pennsylvania St., which have multiple floor levels, narrow hallways and a basement built to house printing presses.
Redevelopment of the Massachusetts Avenue fire station could remain in limbo for the foreseeable future, as Mayor Greg Ballard and council Democrats enter a standoff over tax increment financing districts.
Workers have ripped out the old fountain and crumbling bricks of Pan Am Plaza, making way for a waterproof membrane and new stone pavers in a Kite Realty Group Trust project to stabilize the plaza until it can pull off a redevelopment.
Mayor Dennis Buckley on Friday requested the establishment of a community development corporation with a signed proclamation, which will be presented to the city’s development commission for consideration. He hopes to have it operating within the next month.
Developer Buckingham Cos. has taken deposits for all 100 apartments in the first phase of its $155 million CityWay project at Delaware and South streets in downtown Indianapolis.
New owner of property bought out of foreclosure seeks city revenue bonds, state low-income housing tax credits.
The six-block stretch just outside the front door of the historic Indianapolis Motor Speedway was desolate when the town of Speedway formed a redevelopment commission in June 2005.
New housing, health facility could help attract grocer.
The nearly $2 million effort, named Indy Rezone, is being steered by city planners, private developers, elected officials, architects, community activists and others.
Buyers have quickly snapped up two home sites and the city might sell seven more on a stretch of Broadway Street where The Oaks Academy had hoped to build a soccer field.
A legal battle that had threatened the east-side landmark has been settled, and a $300,000 grant has been secured to begin stabilizing it.
A study commission on tax-increment financing will vote Thursday evening on a set of policy recommendations that would limit the use of TIF districts in Indianapolis.
The tax-increment finance district created around the former United Airlines maintenance hub at Indianapolis International Airport doesn’t generate enough revenue to meet its annual debt payment. Neither do several other area TIF districts.
