Bank seeks to foreclose on architectural firm’s HQ
KeyBank has filed a lawsuit against A2SO4 Architecture and is asking a judge to appoint a receiver to manage the property at 540 N. College Ave. The bank says it is owed nearly $1 million.
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Mainstreet plans $9.2M nursing home on northwest side
The 65,000-square-foot nursing-home and assisted-living facility would feature an Internet cafe, movie theaters and restaurant-style dining with an on-site chef.
Cinema grill plans $4.6M renovation of local theater
Dallas-based Studio Movie Grill says it will invest $4.6 million in a theater building near 86th Street and Michigan Road and should be operating by September. When finished, the facility will sport 13 screens and 1,800 seats.
Cornerstone, partners reap $120M selling medical properties
Cornerstone plans to use sale proceeds to help finance projects in the works in Indianapolis, Noblesville, Bloomington and West Lafayette, in addition to one in Mississippi.
Tight credit or no credit? HHGregg wants your business
The Indianapolis-based appliance and electronics retailer is quietly making a fundamental shift to cast its net more widely—starting with stepped-up promotion of its private-label credit card.
IndyGo jettisons big-name designers
An internationally known architectural team chosen to design a proposed IndyGo transit hub is no longer on the project, to no surprise of local architects who insist the transit agency botched the selection process from the start.
City can tap $39 million in low-interest loans
Affordable-housing builders are enthusiastic about the new source of low-cost capital, which is targeted at a large swath of the inner city, excepting downtown.
New Dunkin building design reveals second level
Under Keystone Group’s tentative plans, the developer would add a second story to the building at the high-profile corner of Washington and Pennsylvania streets in hopes of luring a national restaurant.
Carmel panel refuses to back Midtown redevelopment plan
A $100 million proposal to reinvent an old industrial area in downtown Carmel hit a snag Tuesday, when a City Council committee decided not to pursue a state tax credit that could help fund the project.
Hardware store owner drops unusual helipad request
Keith Payne, owner of North Meridian Hardware, had hoped to receive city approval to add a helipad to his store’s roof before neighborhood concerns caused him to shelve the unusual request.
Fishers buys properties, moves dirt to draw developers
Officials have quietly struck deals with more than a half-dozen property owners in the triangle-shaped targeted area west of Lantern Road, east of the railroad tracks and north of 116th Street.
Apartment business good in IU’s hometown
Bloomington’s average apartment rent was $892 last year, up nearly $60 in two years.
Indy startup serves up keg beer with big data
SteadyServ Technologies has raised $1.5 million to help develop iKeg, which tells bar managers and beer distributors when they need to reorder.
Broad Ripple project takes heat at Village meeting
Jeering and catcalls greeted officials from Browning Investments, which has proposed the $18 million residential and retail development along the Central Canal.
Homebuilder focuses on ‘pocket’ communities near Carmel attractions
Two Carmel natives operate Old Town Design, which is building small neighborhoods of new Craftsman-style homes in and near downtown Carmel’s old neighborhoods.
High-profile developer chases Indy debut
Cleveland-based Forest City Enterprises Inc., developer of the 76-story New York by Gehry in New York City, is teaming with Keystone Group in its bid to redevelop a prime piece of downtown real estate where Market Square Arena once stood.
$225M Westfield project in works
Developer Steve Henke’s vision for Grand Park Village is grand: a 20-acre lake surrounded by an East Coast-style boardwalk lined with restaurants and shops. He sees a carousel at one end of the lake and a Ferris wheel at the other—with a beach, mini marina and watering hole in between.
Finish Line’s cash hoard could make it alluring target
The Indianapolis-based retailer is debt-free and has amassed $227 million in cash on its balance sheet. That works out to $4.63 per share.
Denver-based firm laps up BlueMile running chain
BlueMile, a local six-store running specialty chain, has been acquired by a group that includes Indianapolis-based sports goliath The Finish Line Inc. The deal is expected to speed BlueMile’s expansion.
Mayor suspends land bank after indictments
Indianapolis Mayor Greg Ballard on Wednesday sidelined a city program that sells vacant and tax-delinquent properties, one day after federal prosecutors indicted two of its top officials for allegedly accepting bribes and kickbacks.