Second-home sales rebounding with broader market
Buyers coming into the market range from retirees to wealthy executives and even modest earners.
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Neal Brown out, Late Harvest chef in at Nora development
Ryan Nelson, chef/owner of Late Harvest Kitchen, plans to open a barbecue restaurant at PK Partners’ Nora Shops West project after Neal Brown of Pizzology backed out of his deal.
REITs tumble most since 2011 on concern of rising rates
Shares in U.S. real estate investment trusts fell the most in 19 months Wednesday. Three major REITs, all based in Indianapolis, saw their shares drop on Wednesday.
Law firm taking former Borders coffee shop space
Barnes & Thornburg LLP, which owns the building at the high-profile corner of Washington and Meridian streets, plans to convert the vacant space to a reception area.
Noble Roman’s gets rolling with take-and-bake franchises
Since October, franchisees have opened the first seven stand-alone, take-and-bake locations—dubbed Noble Roman’s Take-n-Bake P’ZA. Nine more are in development or under construction.
16 Park set to officially open following last year’s fire
Insight Development Corp., the development arm of the Indianapolis Housing Agency, on Wednesday will officially open the $34 million apartment project about a year after fire destroyed one of the buildings.
Incentives draw industrial developer to AmeriPlex
A city tax abatement has led Atlanta-based Industrial Developments International to build a 794,608-square-foot speculative building in AmeriPlex and to plan construction of another, 460,000-square-foot building there.
Former governor candidate Gregg buys country grocery
The Democrat said he hopes his purchase of Yagles Country Cupboard will help the store provide more services to the largely Amish southern Indiana community and create a few jobs.
City won’t take back suspect properties sold by Land Bank
The city of Indianapolis won't try to take back properties that were sold by its Indy Land Bank to suspect not-for-profits or to Naptown Housing Group LLC, in which former land bank director Reggie Walton is alleged to be a silent partner.
Veteran custom homebuilder taking prefabs downtown
Ursula David is out to dispel the perception that modular homes are little more than glorified double-wides. David, who started Ursula David Homes 20 years ago, is concentrating on a new project, Indy Mod Homes, and is targeting an unlikely place for the prefabs—the urban core.
Governments helped fuel nursing-facility developer’s rise
Carmel-based Mainstreet Property Group has built 13 nursing homes in Indiana and Illinois since 2008. Six of the dozen Indiana properties benefited from municipal-backed credit or tax breaks, and a seventh received a reduced-impact fee. Mainstreet also received $345,000 in state economic incentives.
Indianapolis moving forward with startup land bank
The executive director of the Land Bank of Indianapolis anticipates working with the city to issue a request for qualifications aimed at charitable and for-profit entities interested in acquiring properties.
Developer intends to bring hint of ‘Wrigleyville’ to Chatham Arch neighborhood
Dan Jacobs has purchased a surface lot at the northeast corner of East North Street and North Park Avenue and plans to build three homes there that will range in height from three to four stories.
High overhead does in Carmel Shapiro’s
The company called closing the restaurant at 918 S. Range Line Road a “strategic decision” that will allow it to focus on its flagship downtown eatery.
Most of Indiana’s largest public companies enjoyed strong 2012
Angie’s List turned a profit for the first time in nearly two decades.
Woodard sells Canterbury Hotel to Ohio firm
Local businessman Turner Woodard had owned the upscale downtown hotel since 2010. Terms of the deal with Columbus, Ohio-based RockBridge Capital LLC, a hotel investment firm, were not disclosed.
Homebuilders extend streak with 23-percent surge in permits
Single-family building permits rose 23 percent in the nine-county Indianapolis area in May, the 11th straight month of year-over-year increases.
Out-of-state developer pitches $75M Carmel project
Baltimore-based Atapco Properties wants to redevelop 34 acres of land at Carmel Drive and Guilford Road, converting a portion of the commercial property to residential use with hundreds of apartments.
AT&T building’s new owner targets first-floor retail
Geis Properties, a division of Streetsboro, Ohio-based Geis Cos., purchased the 558,000-square-foot building for $16.5 million late last month from AT&T, which is reducing its downtown presence.
Central Indiana farmers turn to organic growing
The organic food sector grew by $2.5 billion nationally during 2011, and it keeps growing.