Former real estate broker faces felony charges
The Marion County prosecutor’s office said David Garden was charged with corrupt business influence, 11 counts of forgery and 15 counts of theft.
Real Estate
Articles
HDG Mansur affiliate losing ownership of Market Tower
A Marion Superior Court judge on Tuesday entered a judgment to foreclose on the downtown building after MT Acquisitions LLC failed to pay its nearly $60 million mortgage balance.
Roundup: 3 Sisters moving in Broad Ripple, Pizzology opens on Mass Ave
On top of that, upstart specialty grocer Fresh Thyme sets opening for its first Indiana store, while 100-year-old Brenner Luggage prepares to close one of its northeast-side locations.
HHGregg reports quarterly loss, lower revenue
As expected, the company Tuesday morning reported disappointing fourth-quarter sales that led to a $7.2 million loss for the Indianapolis-based appliance, electronics and furniture retailer.
Developer seeks abatement on $24M UIndy project
The University of Indianapolis has selected local developer Strategic Capital Partners LLC to build its health sciences center. To help offset its investment costs, Strategy Capital has requested a tax abatement valued at $2.5 million.
Simon partner looks to buy out co-owners in expansion drive
Paris-based Klepierre SA, whose largest shareholder is Simon Property Group Inc., plans to spend as much as $686 million a year on expansion.
Stadium project a homecoming for Indianapolis-based designer
Dan McCloskey, who works for Indianapolis-based American Structurepoint, has been named senior project architect on the recently unveiled $11.5 million Kokomo Municipal Stadium in downtown Kokomo.
Aging suburbs facing long road back
Poverty is encroaching on the outer townships of Marion County, adding to their handicap in the competition with doughnut counties, where houses are newer, and sidewalks, sewer connections and bike paths come standard.
BMO Harris shaking up rules of game for car loans
BMO Harris Bank’s dealer compensation change—to a flat-fee based on a vehicle’s purchase price—brings to light how consumers have for years unknowingly footed a payment to dealers through higher interest rates on their car loans.
Strapped schools are wheeling and dealing with municipalities
State-mandated tax caps are putting additional pressure on public budgets—and spurring local governments to take unusual steps to help their cash-strapped schools.
1960s-era city zoning code gets overhaul
City planners hope a proposed overhaul of the Indianapolis zoning code that’s just a few weeks from its public unveiling will make the city greener and more bike- and pedestrian-friendly while easing the path to high-density, mixed-use development.
Grab-and-go meals on menu for Patachou owner
Local restaurateur and entrepreneur Martha Hoover wants to open kiosks offering healthy meals on the go in public places, including along the Monon Trail.
Apartments no longer part of plans for Virginia Avenue lot
Reverie Estates bought the land where Milhaus Development had wanted to build a four-story mixed-use development. Reverie instead is planning a fresh-food market surrounded by a food and fashion truck park.
Indiana Limestone gets back to work under new owner
Indiana Limestone Co. technically closed and laid off all its workers earlier this month to fulfill a bankruptcy plan, then a few days later reopened with the new owners and rehired employees.
Existing-home sales sink for eighth straight month
Home-sale agreements dropped nearly 20 percent in the nine-county Indianapolis area in April. Home prices continued to rise as inventories shrank.
Homebuilders see third straight month of rising demand
On a year-over-year basis, home-construction permit filings in the nine-county area have risen in 13 of the last 16 months.
U.S. retail sales show scant April increase
The Commerce Department said Tuesday that seasonally adjusted retail sales rose just 0.1 percent in April. Excluding autos and gasoline, retail sales fell 0.1 percent last month.
UIndy seeks city OK for $30M health sciences center
The University of Indianapolis is looking for a developer to finance the project, in which the college would be the main tenant. Construction on the four-story building could start in late summer.
Luxury Clearwater apartment complex on market
82 Flats, which opened last year and is 95-percent occupied, could fetch $35 million for its developer, Cityscape Residential, formerly known as Hearthview Residential.
Mortgage rates sink to 2014 low
Warmer weather has yet to boost home-buying as it normally does. Rising prices and higher rates have made affordability a problem for would-be buyers, while many homeowners are reluctant to list their properties for sale.