Police raid El Rodeo restaurants in several counties
The Marion County Prosecutor’s office led a multicounty police raid at lunchtime Monday that closed numerous eateries in the El Rodeo Mexican Restaurant chain.
Real Estate
Articles
Irvington group’s plan for historic building reduced to rubble
Strong storms that blew through central Indiana on Sunday toppled much of the two-story former post office building, which had withstood the tests of time for 110 years.
CityWay project takes top Monumental Award honor
The Indy Chamber presents the awards that honor significant achievements in architecture and design. Buckingham Cos.’ CityWay also won in the Public Art category.
Study: Downtown can sustain huge apartment boom
About 3,500 rental units are expected to be built downtown by 2017, adding to 4,700 already on the market. But the analysis says there’s no need to worry about overbuilding.
Tipton County won’t stop work at Chrysler plant over permits
Three residents have appealed the Tipton County planning director’s decision to extend without public notice the building permit originally given to Getrag, which stopped construction at the factory in 2008.
Future murky for Carmel’s 2-story development rule
City leaders are embroiled in a debate over the future of Range Line Road, through the heart of Carmel’s redeveloped downtown. Special density zoning rules are intended to create a consistent look and keep residents from bearing the brunt of the city’s significant infrastructure investment. The question is whether it’s working.
Buyer of Illinois Building envisions conversion into upscale hotel
A high-profile local developer has bought the Illinois Building and is considering offers to convert the downtown landmark into a boutique hotel that could be the city’s first five-star lodge.
Stonegate Mortgage profit slows in third quarter
In its first quarter as a public company, the Indianapolis-based residential mortgage firm reported a big year-over-year dip as rising interest rates made the market more volatile.
Indianapolis-area home sales take nosedive
Although area sales are up 16 percent through the first 10 months of the year, the trend has slammed into reverse in recent months amid higher mortgage rates and tighter inventories.
Kite Realty raises $217.3M in secondary share offering
The local rest estate investment firm says it will use some of the proceeds to repay debt and the rest to fund part of its recent $307 million purchase of nine Southern retail properties.
Funding for Mounds Reservoir study moves ahead
The state will provide a $600,000 grant for the next phase in a proposed project to build a $400 million reservoir in central Indiana.
Two projects on tap for Near-North area
One is an affordable senior-housing complex on North Illinois Street and the other is a small mixed-use development on North Meridian Street that could house a medical clinic.
Former Mayor Peterson joins Kite Realty board
The former two-time mayor is better known for politics and public policy, but he spent many of his early years working in his family’s commercial real estate company.
Uptown Business Center headed to sheriff’s sale
The building in SoBro is at the center of a lengthy court feud in which the owner had attempted to delay foreclosure by filing to reorganize assets—a strategy that a bankruptcy judge rejected last month.
Homebuilders end 15-month streak of permit increases
The central Indiana home construction industry reversed course in October, with a rare year-over-year decrease in the number of single-family building permits filed. The drop follows a recent downward trend.
New roof to help stabilize historic Indy theater
The building, at 3155 E. 10th Street, has been vacant since 1992 and is in an advanced state of disrepair. But a new roof will stabilize it, staving off further deterioration, backers hope.
Noble Roman’s sees rising profit, revenue
The company said it has entered into agreements to open 45 stand-alone take-n-bake pizza locations.
Chocolate artisan sets sights on Carmel
Shelbyville-based Chocolate for the Spirit is opening a retail storefront in Carmel in time for the holiday shopping season.
Former Marsh exec joins local Colliers office
Former Marsh Supermarkets Inc. executive Bill Marsh has joined the Indianapolis office of Colliers International as vice president of retail services.
Proposed GM plan reserves space for soccer stadium
One of the players vying to redevelop the former General Motors metal-stamping plant has set aside room in his plans for a roughly 10,000-seat stadium where his own North American Soccer League franchise could play.