Legal fight over Pan Am Plaza outpaces redevelopment
Plaintiffs are challenging the city’s 2007 decision to waive a hefty fee that otherwise would have been required to redevelop the crumbling site.
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Site chosen for proposed Westfield sports complex
The Hamilton County sports and recreation campus—known as the "Family Sports Capital of America"—is expected to occupy 300 acres and cost millions to fully develop.
BPG sells trio of Keystone Crossing buildings
An affiliate of Pittsburgh-based PWA Real Estate LLC snapped up the three buildings for $15.5 million. The largest totals more than 100,000 square feet and houses such tenants as General Casualty Co., 20/20 Institute and M/I Homes.
Dolce hotel, YMCA part of city-funded ‘North of South’ development
The city plans to issue bonds and use tax-increment financing to fund the $150M project, which also will include 320 high-end apartments and 40,000 square feet of retail space. Construction should begin this year.
$150M ‘North of South’ project moving ahead
Officials are announcing details of an ambitious downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters. The project will include a hotel, apartments, restaurants and retail space and a YMCA.
REITs use stock sales to grow after paying debt
U.S. real estate investment trusts, including Indianapolis-based Duke Realty Corp., are selling shares to fund property acquisitions after using record cash from equity offerings last year to reduce debt and cover dividends.
Retail roundup: Kahn’s plans new downtown store & more
We lead off today’s flush retail roundup with a new location for Kahn’s Fine Wines & Spirits. Also on tap: New local brewery chooses Fort Ben, three new restaurants, a new bakery and more.
Finish Line’s second-quarter profit jumps to $16.8M
Indianapolis-based The Finish Line Inc. said Thursday that its second-quarter profit rose as it rebounded from a messy quarter a year earlier after the athletic shoe retailer sold its unsuccessful Man Alive hip-hop stores.
East-side residents forge $100M plan to renew neighborhood
Since 2004, residents and community leaders in the area just east of downtown—including Boner Center chief James Taylor—have raised more than $100 million to improve their neighborhood. The deployment of so many resources to one area is almost unprecedented in Indianapolis.
City meets deadline to get federal money for housing projects
The $29 million will be used to acquire and demolish or rehabilitate foreclosed and abandoned homes.
Developer seeks rezoning for Canal apartments
The city’s Division of Planning was set to hear a request Thursday afternoon by Valparaiso-based Investment Property Advisors LLC to rezone property near the Central Canal for a 150-unit apartment complex.
Blockbuster files for bankruptcy protection
Troubled video-rental chain Blockbuster Inc. filed for Chapter 11 bankruptcy protection Thursday, saying plans to keep its stores and kiosks open as it reorganizes.
Federal courthouse in Indianapolis slated for green roof
Plants atop the Birch Bayh Federal Building and U.S. Courthouse are expected to cut costs in long run.
Indiana Convention Center might need yet another expansion
The current expansion has absorbed the last of the adjoining space, leaving the convention center landlocked.
Tired-but-proud school buildings find new missions
More unneeded buildings are slated to be sold off by Indianapolis Public Schools, but creative people have turned other former schools into reuse gems.
Schlage acquires Fusion door-hardware division
Schlage’s purchase of the Georgia-based company’s division gives it immediate access to the decorative door hardware and lock market, the company said.
Local building permits down again in August
The number of building permits filed in the nine-county metropolitan area dropped by 18 percent in August from the same time a year ago, falling from 354 to 290. The drop marks the third consecutive month permits have fallen.
Hoosier Lottery moving to Meridian Street building
The lottery will move in January to the Buick, a 60,000-square-foot building at 13th and Meridian streets owned by principals of Shiel Sexton Construction.
Home construction jumps nationally
Housing starts are up 25 percent from their bottom in April 2009. But they remain 74 percent below their peak in January 2006.