Two Indy apartment complexes sell for $35 million
National investors have snapped up two apartment properties on the north side totaling 722 units. One complex is slated for a major rehab.
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Market Square project calls for $81 million, 28-story tower
Flaherty & Collins Properties plans to build an $81 million, 28-story skyscraper on part of the former home of Market Square Arena in what would be the tallest new downtown development since the JW Marriott opened in 2011.
Homebuilding permits rise for 12th straight month
Through June this year, 2,603 permits have been issued in the Indianapolis area, an increase of 26 percent compared to the first six months of 2012.
Northern office market on upswing, downtown ‘stagnant’
Downtown’s vacancy rate continues to hover around 20 percent, according to mid-year market reports, with more space becoming available than was leased. Meanwhile, the northern suburban market is showing the most improvement.
Big Anderson church files for Chapter 11 bankruptcy
The Madison Park Church of God bought a 200-acre site near Interstate 69 in 2007 and built a church there using three bridge loans. One $6 million loan matured on July 12 and couldn't be repaid.
City expected to tap Flaherty & Collins for former MSA site
The prolific local developer Flaherty & Collins Properties is expected to land a deal with the city to build a residential and commercial skyscraper on part of the former home of Market Square Arena, multiple sources said Monday evening.
City set to unveil Market Square project plans
City officials will reveal the winner Tuesday morning from six teams that bid on redeveloping the downtown site. All proposed mixed-use projects, but they ranged in size from eight to 52 stories.
Huge greenhouse development planned for Haughville
New York-based BrightFarms Inc. plans to build a 100,000-square-foot hydroponic greenhouse on a vacant 5-acre parcel of land at 2219 W. Michigan St. that will employ 25.
Whitsett set to launch $28M Lockerbie North project
The local developer plans to build 215 market-rate apartments and 9,000 square feet of retail space at the northwest corner of North College Avenue and East Michigan Street.
Area home-sale agreements on the rise again
Home-sale agreements in the nine-county Indianapolis area were up nearly 10 percent in June compared to the same month a year ago.
Browning adding more apartments to gain support for Broad Ripple project
The developer is proposing to add 15 units to the 88 apartments already included in the plans, increasing the cost of the project to $25 million.
Shelbyville sees spark of revival downtown
A homegrown revival in Shelbyville could gain serious momentum with redevelopment of the vacant First Methodist Building, one of the most prominent buildings on the circle. A California investor bought the five-story building in May and plans a $3.5 million renovation.
Upstart theater companies struggle to find spaces to call their own
Some of Indianapolis’ up-and-coming theater groups are establishing their identities through recently acquired performance spaces.
Firm passed over for Ball State planetarium cries foul
Bowen Technovation President Jeff Bowen says the university unfairly favored his Florida-based competitor to install a sophisticated audio-visual system for its new planetarium, but Ball State maintains there was nothing wrong with its process for awarding the nearly $2 million contract.
New owners plan to upgrade apartments plagued by shortcuts
The ill-fated Di Rimini apartment project that city officials halted three years ago because of numerous code violations is set to be resurrected by two local businessmen.
Nick’s English Hut’s ATM miscue spawns legal nightmare
The absence of a fee-disclosure sticker triggered a class-action lawsuit, as well as a legal tangle with the restaurant's insurance company.
San Diego wellness-program firm plans 300 jobs in Carmel
American Specialty Health has lined up office space along North Meridian Street. The company may establish Carmel as its new headquarters.
Former Loon Lake building getting new restaurant tenant
A franchisee of the Dallas-based chain Twin Peaks has signed a lease to occupy the building northwest of Interstate 69 and East 82nd Street and should be open by the end of the year.
Star negotiating HQ move to former Nordstrom at Circle Centre
The newspaper’s publisher confirmed it’s closing in on a deal to occupy the space after IBJ reported earlier Wednesday that the Star was considering a move to Circle Centre mall.
Westfield’s sports plan is grand
When it opens next spring, the aptly named Grand Park Sports Campus will be the largest youth sports complex of its kind in the country.