City lands grant to study reuse of old automotive sites
Federal and local funds will be used in the effort to reposition manufacturing sites abandoned by GM, Ford, Chrysler and Navistar.
Real Estate
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Basketball legend Robertson target of bank’s lawsuit
Oscar Robertson’s money troubles in Ohio have been well documented lately. But in his hometown of Indianapolis, he’s trying to convince a judge that he’s not responsible for a $203,000 bank loan.
Ambrose jumping into Plainfield industrial market
Fast-growing Ambrose Property Group plans to develop a $12 million warehouse building on a site in Plainfield that it acquired last month from the FDIC.
Indianapolis jeweler shot during home break-in
Indianapolis police say jeweler Gary Thrapp of G. Thrapp Jewelers was in stable but serious condition Sunday after being shot when two people broke into his home.
Investor still pushing for Simon to buy rival despite opposition
Brookfield Asset Management Inc. is keeping a tight grip on its stake in General Growth Properties Inc. in a bet the second-largest U.S. mall owner is better off as an independent company that will jump in value.
MainGate, Lids score Super Bowl merchandise deals
A pair of Indianapolis-based companies recently scored the largest single-event deal in the world of U.S. sports licensing, unseating 24-year incumbent Facilities Merchandising Inc. to win lucrative deals at the 2013 Super Bowl in New Orleans.
Local buyer acquiring Circle Tower for $6M
A fast-growing Indianapolis real estate firm is poised to acquire one of the city’s most iconic and well-located historic buildings.
Area home-sale contracts up again in August
Purchase agreements in the nine-county area totaled 2,151 during the month, a 5-percent increase from August 2011. Year-to-date sales are up 14 percent compared with the same time last year.
Millcraft hoping to fill downtown paper-supply void
Millcraft Paper Co. is set to move from the far east side to downtown Indianapolis on Sept. 24 in hopes of filling a void left a few months ago by the closing of Arvey Paper & Office Products.
Finish Line stock falls after analyst’s downgrade
An analyst downgraded The Finish Line Inc.'s stock on Wednesday, saying that the Indianapolis-based sneaker and athletic clothing retailer will likely continue to lose share to rival Foot Locker.
A happy conclusion to the saga of restaurant Calle 52?
The proposed restaurant Calle 52 is getting a new look and new name and is moving forward after two years of squabbles with neighbors.
New metropolitan development director named
Adam Thies will succeed Maury Plambeck as director of Indianapolis’ Department of Metropolitan Development, effective Oct. 1. Plambeck will lead a program directing the next RebuildIndy investments into city neighborhoods.
TIF expert is adviser to many municipalities
Loren Matthes helped broker first tax-increment financing deal in the state
Purdue says farmland values are up despite drought
The university's June survey found a statewide increase in farmland value ranging from 14 percent to 18 percent, depending on land quality, since last year's survey.
Simon exec: There’s ‘no interest’ in buying General Growth
A Simon Property Group Inc. executive said that the largest U.S. mall owner isn’t trying to acquire competitor General Growth Properties Inc., which announced Monday that it won’t put itself up for sale.
Area homebuilding permits on the rise in August
Builders in the nine-county Indianapolis area filed 408 construction permits in August, a 15-percent increase from the same month a year earlier, according to the Builders Association of Greater Indianapolis.
Judge denies airport’s objection to competing parking lot
A Marion County judge has denied a legal challenge by the Indianapolis Airport Authority that would prevent a Cincinnati-based developer from opening a competing parking lot near the airport.
General Growth rejects call for sale of company to Simon
General Growth Properties Inc., the second-largest U.S. shopping-mall owner, rejected investor Bill Ackman’s request to put itself up for sale and said it will remain independent.
Virginia Avenue attracts yet another project
Englewood Development has under contract the former Shirley Engraving property at 460 Virginia Ave., where it plans up to 50 apartments, about 5,000 square feet of retail space and an underground parking garage.
Real estate firm’s niche is commercial Hispanic clients
Real estate entrepreneur Kelli Membreno, a bilingual native of northern Indiana, has built a business on helping Hispanic entrepreneurs navigate the barriers of language and American business customs.