The company last month broke ground on an 8,000-square-foot medical building near 86th Street and Allisonville Road. The project is the first of three buildings it plans to develop as part of Gardens at Castle Creek.
Financing for construction of a $10 million, mixed-use building at 875 Massachusetts Ave. closed Dec. 22, allowing developers to proceed with the project after a funding snag nearly killed it.
Capital Shopping Centres Group Plc, the U.K.’s biggest shopping mall owner, said it is worth as much as $9.64 a share to a bidder, almost 50 percent more than an offer from Indianapolis-based Simon Property Group Inc.
Medical office likely will be the strongest sector, followed by apartments.
An incomplete $150 million development that was supposed to feature 305 luxury condominiums along a 25-acre lake on the north side of Indianapolis has been placed in receivership.
The Metropolitan Development Commission has approved an $86 million city loan to help fund the $155 million mixed-used development near the downtown campus of Eli Lilly and Co. The project still needs approval from the City-County Council.
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
The developer of the $150 million mixed-use project in downtown Indianapolis had hoped to start construction by the end of the year. But delays in getting the project zoned properly likely will move the start date back.
City planners have downsized their renovation plans because project bids came in too high to meet the $2.7 million budget.
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
The developer of an unfinished medical office complex on Binford Boulevard has filed for Chapter 11 bankruptcy protection in hopes it can retain control of the property and resume construction later this year.
The owner of the building that houses the Music Mill concert venue listed assets of $1.4 million and liabilities of $1.3 million.
Plaintiffs are challenging the city’s 2007 decision to waive a hefty fee that otherwise would have been required to redevelop the crumbling site.
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
The Estridge Cos. has withdrawn a proposal to build a massive youth sports complex in its master-planned Symphony development in Westfield.
The deal with financial backer Inland American Real Estate Trust would leave Lauth Group with fewer properties but a more manageable debt load.
Indianapolis-based Browning Investments plans to turn the former Executive Inn back over to the city after being unable to
arrange financing for the project.
Developer Leif Hinterberger has spent five years and most of his savings trying to build a $19M mixed-use
project at 49th Street and College Avenue. The project could be in trouble if he doesn’t get city
support.
Pittsburgh-based PNC Bank has filed to foreclose on the historic five-story Janus Lofts building at 240 S. Meridian St.
Affordable Building Supplies LLC, which was displaced by the construction of Lucas Oil Stadium, hopes to move its headquarters
closer to downtown in a new mixed-use building on South Meridian Street.
