Q&A with Catherine Esselman on reimagining real estate
Esselman spoke with IBJ about her experiences running a solo firm and why she loves finding tenants for underused spaces.
Downtown Indy
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Q&A: Purdue’s Dan Hasler says first semester in Indianapolis after split is promising
On July 1, IUPUI was split into Indiana University Indianapolis and Purdue University in Indianapolis. Purdue’s Indianapolis venture is an extension of the West Lafayette flagship campus, meaning students can study at both campuses throughout their time at Purdue.
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Traffic plans, pop-up performances unveiled for Taylor Swift weekend
Construction and congestion are expected to be challenges for motorists as nearly 200,000 people gather downtown over a three-day period.
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Hendricks closes on $85M purchase of Circle Centre Mall
Hendricks Commercial Properties—the developer of the Bottleworks District—plans to spend at least $600 million to convert the nearly 30-year-old mall into an open air, pedestrian-focused retail, office and residential district.
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Downtown office properties are facing tough financial years—but mall project offers hope
It’s a challenge hitting urban centers across the United States. Downtown office buildings are seeing their values plummet and vacancy rates climb due to space consolidation and a continued hesitancy toward renewals and new leases following the pandemic.
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Articles
Taylor Swift updates: End of final show in Indy; more photos; celebrities among Swift fans
IBJ is covering Taylor Swift’s three-day visit to Indianapolis and the 200,000-some fans expected to converge on the city to attend (or try to find tickets to attend) one of the concerts at Lucas Oil Stadium. Check back regularly for updates.
City-County Council approves tax district for downtown enhancements
The taxing district is expected to generate about $4.65 million a year for downtown-focused efforts in Indianapolis, along with funding the operating costs of the low-barrier homeless shelter planned on the southeast side of downtown.
New report shows soccer stadium taxing district could generate $2.1B over 32 years
Of the $2.1 billion in taxes expected to be generated through the district from 2025 to 2056, about $1.7 billion would come from state income and sales and use taxes, the report says.
Downtown tax poised for passage as owners of Indy’s tallest buildings decry costs
For the JW Marriott, the fee would be nearly $348,000 a year. For Salesforce Tower, the cost is about $251,000.
After legislative changes earlier this year, what’s next for Indy’s downtown tax district?
Under the new law, owners of apartments and single-family homes are exempted from the tax unless they decide to opt in to paying the tax, leaving potential for a large decrease in available funds.
Spark on the Circle to return this year with some changes
The temporary public park that occupied a quarter of Monument Circle for four months last year is coming back for longer stay this summer in a slightly different location.
InterContinental Hotel set to open this fall, bringing downtown another luxury lodging option
The $101 million project at 17 W. Market St. will include 170 rooms and a rooftop bar with views of the Soldiers and Sailors Monument. The opening will come some five years after Keystone first proposed the hotel.
Governor signs Indy tax district, foreign land ownership bills
Indiana Gov. Eric Holcomb signed three bills Friday including one that shifts the requirements for Indianapolis’ downtown economic enhancement district.
New sneakers and apparel dropping for NBA All-Star Weekend in Indy
Urban designers and sports apparel companies are debuting new styles and sneaker designs at pop-up shops across downtown Indianapolis for All-Star Weekend. See what you can get and how much it will cost you.
Detour alert: Plan around these All-Star Weekend street closures
The biggest shift will be the closure of the southern half of Monument Circle to vehicular traffic.
Bill to undo Mile Square property tax passes House with support from Speaker Todd Huston
As an alternative, the House approved a separate measure that would allow the City-County Council to increase the countywide local income tax by .02% to help pay for the operating costs of a homeless shelter and various improvements in the city’s Mile Square.
Indiana House committee votes to repeal downtown tax district, offers county-wide income tax as alternative
The Republican-controlled Indiana House Ways and Means Committee voted to advance a bill that would repeal the economic enhancement district that Democrat-controlled Indianapolis city government approved last month. The committee chairman offered a new Marion County income tax as an alternative.
State lawmakers hear testimony on bill to repeal Mile Square tax
The majority of people who testified about the bill were against it, arguing that it would undo the work of corporate and civic leaders to boost perceptions of downtown in the aftermath of the pandemic and the 2020 protests for racial justice.
House speaker wants public hearing on Mile Square tax
New legislation would repeal language included in the 2023 state budget that gave the city of Indianapolis the authority to create a special Mile Square taxing district to pay for downtown enhancements and a low-barrier homeless shelter.
Q&A: Indy Chamber’s new CEO Matt Mindrum
Matt Mindrum is a month into his new role and recently spoke with IBJ about his vision for the region’s growth, downtown vitality and his new insights into youth apprenticeships.
Opponents of downtown tax to seek reprieve from Legislature, Bosma says
It’s unclear if lawmakers are open to rolling back the measure, which was slipped into the 2023 state budget without public input. However, the push for a change has a powerful ally in former Indiana House Speaker Brian Bosma.
Council votes to approve creation of downtown enhancement tax
The 19-5 vote, which followed party lines, creates an economic enhancement district—or EED—bound by North, East, South and West streets—the Mile Square—that would see increases to property taxes within those boundaries.
Businesses divided on Circle park
Opinions are mixed on a temporary pop-up park that has closed the southwestern quadrant of Monument Circle to traffic for the past four months.
Civic group defines new mission during State of Downtown event
The leader of civic organization Downtown Indy Inc. said Thursday that she is bullish on the future of the city’s core—and the not-for-profit’s role in moving downtown forward.