Board votes to protect historic German church
The Metropolitan Development Commission has approved an emergency motion to protect a 1914 church at the northeast corner
of Washington Street and German Church Road.
Real Estate
Articles
Deborah Simon says other potential trustees have conflicts
Melvin Simon’s daughter, who’s seeking to remove her stepmother from overseeing a trust that holds her late father Melvin’s
fortune, says a corporate trustee is a better option than brother David Simon or family financial adviser Bruce Jacobson.
First hotel in downtown Marriott complex to open doors
The Fairfield Inn & Suites on West Washington Street downtown will open Wednesday. The hotel is the first of four comprising
the 1,600-room Marriott Place project to welcome guests.
Emerson Heights wins historic designation
Emerson Heights, a streetcar suburb just west of Irvington, has been added to the State Historic Register and will be considered
for inclusion on the National Register of Historic Places.
Clarian eyes vacant Levitz space for office, warehouse use
Clarian Health Partners is considering converting a long-vacant, 180,000-square-foot Levitz furniture store on East Washington
Street into a center for home-health and pharmacy services.
Melvin Simon’s daughter seeks to oust Bren as trustee
Deborah Simon is seeking
the removal of her stepmother and appointment of a corporate trustee while her lawsuit challenging changes
to the late billionaire’s will plays out. The move is the latest salvo in an escalating battle over
an estate that could be worth $2 billion.
Cincinnati investors buy apartment complex anchored by mansion
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550
Cold Spring Road on Dec. 30.
Steak n Shake posts profit, plans new corporate name
Steak n Shake Co. said Friday it posted a fourth-quarter profit, and said it is planning to change its corporate name to Biglari
Holdings Inc.
Independent bookstore in Carmel ends seven-year run
The Mystery Co. in the Arts & Design District plans to host a farewell party Jan. 30, and close for good a few
days later.
Apartment developer investing $100M in Hamilton projects
Carmel-based developer J.C. Hart Co. is making a $100 million bet that luxury apartment communities will continue to thrive
in Hamilton
County, particularly along 146th Street.
Investor buys vacant Castleton-area hotel
A vacant former Country Inn & Suites along Interstate 69 just north of I-465 is getting a new owner with plans to reopen
the 85-room property in the Spring.
Panel OKs bill to provide pet buyers with info
The bill would require pet stores to put information about the dog or cat on its cage in the store, including the animal’s
medical history, the name of the breeder and any congenital disorders.
Duke Realty reports loss, says outlook remains ‘challenging’
Locally based Duke Realty Corp. reported a 53 percent drop in funds from operations in the fourth quarter but still managed
to beat Wall Street expectations.
Independent Carmel bookstore closing
An independent book shop specializing in mystery and suspense novels is closing after a seven-year run in Carmel.
Northwest-side industrial park sells for almost $30 million
The North by Northwest Business Park near 86th Street and Georgetown Road has been sold to firms in Minneapolis
and Baltimore for $29.6 million.
Employee buys Drexel Interiors from struggling parent firm
The east-side Indianapolis kitchen and bathroom remodeling shop is attempting to succeed as a solo operation following longtime
employee Allen Weisenburger’s decision to buy the operation rather than let it close.
Simon Property Group enters dispute over founder’s fortune
Simon Property Group Inc. is suing Bren Simon, the widow of company founder Melvin Simon, over her effort to convert part
of her late husband’s ownership stake in the publicly traded mall giant into common shares or cash.
Report says Indiana home sales, prices on rise
Home sales statewide rose 4.1 percent in December compared with the same month in 2008, although Marion and Hamilton counties
reported sizable slides.
Simon Property accepts $2.3B of notes in offer
Simon will fund the purchase with available cash plus proceeds from the sale of $2.25 billion in senior unsecured notes.
Affordable-housing group goes on apartment-buying binge
Partners in Housing Development seized on a weak real estate market to acquire three urban apartment communities in the last
18 months.