City aims to erase surface parking for developments
Several downtown surface parking lots are targeted for redevelopment, with a couple already well on their way to being filled with a mixture of commercial and residential projects.
Development/Redevelopment
Articles
Tax credits spur city apartment construction
Increase in federal funding helps developers finance projects that include mixed-income rental housing.
Abandoned gas stations both vex, brim with promise
The trick is to determine in advance just how expensive and lengthy that cleanup might be.
Downtown officials outline future plans for Georgia Street
The three-block stretch that served as the Super Bowl Village will complement, not compete with, traditional downtown gathering places such as Monument Circle, officials said.
Foundation finds buyer for 16th Street buildings after 6-year search
Two brothers purchased the pair of connected buildings at the northwest corner of 16th and Alabama streets and will use the property for a 50-seat café and the offices for Nottingham Realty Group.
New mixed-use project holds promise for building across street
An 82-year-old downtown commercial building that’s had trouble luring tenants is suddenly positioned to thrive courtesy of an $85 million mixed-use project planned for a site right across the street.
Purchase lifts effort to develop MSA site
A community development corporation linked to the city of Indianapolis has bought the 1.87-acre parking lot that borders the former Market Square Arena site, a move that some say could be the catalyst to finally redeveloping the entire vacant site.
Apartments rev up residential revival downtown
An apartment building spree downtown is getting fresh fuel with an $85 million mixed-use development that will be anchored by a Marsh grocery.
Marsh to anchor massive new downtown development
A local developer plans to build a Marsh grocery store and hundreds of apartments in an $85 million project that would replace a block and a half of surface parking lots in the northwest quadrant of downtown.
Brugge owners eye downtown buildings for brewery, eatery
Owners of Broad Ripple’s Brugge Brasserie want to bring a new restaurant concept to the Massachusetts Avenue district downtown, where they also plan to relocate the craft brewery that supplies beer to Brugge.
Local developer rescues 1913 apartment building from wrecking ball
A local developer and historic preservation group have teamed up to save a 1913 apartment building near the Children’s Museum from demolition.
Near-east-side Super Bowl efforts go beyond the big game
For a Super Bowl-related initiative to revitalize Indianapolis’ near-east side, the hardest work will come after the Feb. 5 game.
Progress slow on variety of metro area deals
Many projects we reported on here over the past year are still in progress, confirming that the real estate market is still sluggish.
Real estate meltdown leaves developers reeling
It was another rough year for the real estate sector in 2011, as the homebuilder Estridge filed for bankruptcy, strip-center specialist Broadbent struggled to hold onto its headquarters, and Centre Properties faced a $43 million foreclosure suit.
City backs string of high-profile real estate projects
The administration of Mayor Greg Ballard found its stride in the final year of its first four-year term, at least when it comes to major publicly supported real estate projects.
Neighborhood eyesore headed for demolition
The city is soliciting bids from companies to tear down four buildings on the 16-acre Avanti Development Corp. property, which is tucked in a residential area a few miles west of downtown Indianapolis.
Transit plan may boost real estate investment
A proposed $1.3 billion transit system might bring redevelopment to urban neighborhoods. Yet transit proponents have surprisingly little to say about how much the system could generate in new real estate investment.
Fisher’s IndyCar team building headquarters in Speedway
Sarah Fisher Hartman Racing plans to build a $2.7 million facility on Speedway’s new Main Street to house her race team. Construction on the 37,000-square-foot shop could start in February and be finished in September.
Proposed Broad Ripple parking garage gets zoning OK
The controversial project is a $15 million, three-story garage that the city of Indianapolis will subsidize with $6.3 million in parking meter revenue. The project also features a retail component, which neighbors say will lead to increased traffic.
Developer plans 26-story tower along canal
Valparaiso-based Investment Property Advisors wants to build an $83 million apartment project for college students on one of the last available parcels along downtown’s Central Canal.