Battered Broadbent climbs back from brink
One of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and protracted legal battle with two lenders.
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$12M apartment project serving homeless veterans planned for former foundry
City and local not-for-profit officials plan to break ground Thursday (Nov. 8) on the city's first supportive housing facility for homeless veterans.
Area home-building permit filings surge 46 percent
The Builders Association of Greater Indianapolis said October’s jump marked the biggest year-over-year increase this year. Activity was strongest in Hamilton and Hendricks counties.
Restaurant roundup: Drake’s, El Rodeo, Granite City
A few new restaurants are popping up around Indianapolis, including a popular restaurant and bar and a sit-down Mexican chain.
Local Ruth’s Chris franchisee takes aim at breakfast
The operator of the Ruth’s Chris Steak House locations in Indianapolis is delving into the breakfast business by acquiring the rights to open 16 Another Broken Egg restaurants. The first is slated to open in February on the north side.
Mass-transit advocates make headway in new Legislature
The $1.3 billion transit plan for Hamilton and Marion counties is one of a few lingering issues — along with Sunday alcohol sales and a constitutional amendment banning same-sex marriage — likely to appear before lawmakers in 2013.
Suzuki files bankruptcy, leaving U.S. market
The decision will affect two dealerships in the Indianapolis area: Bob Rohrman’s Indy Suzuki and Used Car Superstore and the Ray Skillman Westside Auto Mall, both of which sell new Suzuki vehicles.
FacadeTek eliminating 72 jobs in Whitestown
Glass fabricator FacadeTek Inc. has notified state officials that it will eliminate 72 jobs at its Whitestown facility in January.
Buffett-owned residential brokerage network to have presence here
Omaha-based Berkshire Hathaway Inc., through its HomeServices of America unit, bought a majority stake in the Prudential and Real Living real estate franchises from Brookfield Asset Management.
Two Indianapolis office buildings in foreclosure
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
Kite Realty reports higher revenue, bigger loss
Kite Realty Group Trust Inc. reported higher revenue and a bigger loss during its fiscal third quarter, a busy period during which the company raised $60 million from a share offering and bought one Florida shopping center and sold another.
HHGregg adds furniture, exercise gear as TV sales fall
HHGregg Inc. is looking for ways to boost sales at its 224 stores in coming months as the homegrown company fights to offset a huge drop in TV sales. The retailer reported a big decline in quarterly revenue Friday, but its shares soared nearly 19 percent.
Dry cleaners moving to ‘perc’ alternatives
One of the region’s largest dry cleaning companies recently washed its hands of perchloroethylene, the dry cleaning chemical at the heart of about 170 cleaner site cleanups statewide.
City bans bulk land-bank sales after lopsided deal with not-for-profit
Indianapolis last year sold 154 properties from its land bank for $1,000 each to a novice not-for-profit, which immediately flipped them for a total $500,000 profit. More than a dozen have changed hands multiple times since then, making investors more than $1 million. (with interactive map)
Dry cleaners’ solvents taint Martinsville’s water
The U.S. Environmental Protection Agency recently proposed placing the city of Martinsville on its Superfund priority list, citing groundwater contamination traced to several former dry cleaning shops in the heart of town.
Settlement talks afoot in Mel Simon estate brawl
Attorneys for Mel’s daughter Deborah asked a Hamilton County judge to put discovery deadlines on hold and vacate the July 2013 trial date while the parties negotiate a “memorandum of understanding.”
Lids buying 12 stores from Florida-based Fanatics chain
The purchase includes nine FansEdge locations in the Chicago area and one in Oklahoma, in addition to two Football Fanatics stores in Jacksonville, Fla.
Duke loss narrows, quarter meets expectations
Indianapolis-based Duke Realty Corp. on Wednesday reported a third-quarter loss of $28.2 million, smaller than a loss of $32 million in the same quarter of 2011.
PulteGroup plans new neighborhood in Anson
PulteGroup Inc. has purchased 24 acres in the Anson development near Whitestown in Boone County and plans to build 36 homes. Long-range plans call for 255 homes on 145 acres.
Deylen offers another vision for Mass Ave redevelopment
A little post-Halloween candy for Property Lines readers: Check out the renderings of an unsuccessful Mass Ave redevelopment proposal from locally based Deylen Development.