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Business leaders battle over real estate left behind by Payton Wells

The Malibus and Impalas disappeared from Payton Wells Chevrolet more than 18 months ago, but the controversy over the defunct
dealership at 1510 N. Meridian St. is far from being in the rearview mirror for some of the city’s top businesspeople and
developers. A court battle over the dealership’s properties could determine when and how the roughly six acres of prime land
are redeveloped.

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Board eyes building near Lucas Oil

The Capital Improvement Board likely will buy one-story building across the street from the new Lucas Oil Stadium. The board has an option to purchase the Easterday property, which it has been…

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IMA nature park takes shape

Check out this new rendering of the visitor center for the $25 million Virginia B. Fairbank’s Art & Nature Park at the Indianapolis Museum of Art. Check out more images and…

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Update: Monon Place approved

The Metropolitan Development Commission approved a $15-million Broad Ripple redevelopment project by a 9-0 vote this afternoon, disagreeing with a handful of vocal remonstrators. In siding with the developer,…

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Also noted:Indiana’s lone Sharper Image store at the Fashion Mall at Keystone will close for good in the next few weeks. The bankrupt electronics chain is closing all 86 stores. But if you plan on shopping, take note: Sharper Image…

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Fun with tax abatements

A couple of development projects that would include tax abatements are up for hearings Wednesday at the Metropolitan Development Commission:

Community Hospital of Indiana Inc. plans to spend $3.7 million updating and expanding…

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Rolling the dice in Indiana

A new electronic casino opens for business at Hoosier Park in Anderson today, and another at Indiana Downs in Shelbyville is set to open next week. The…

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Boberschmidt appointed Premier trustee

Philip Boberschmidt of the downtown law firm of Boberschmidt and Powers has
been appointed trustee to oversee liquidation of Premier Properties USA – a task that begins today.

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Zender trying to sell 18 apartment complexes for about $40 million

A locally based property management firm is struggling to find a buyer for its downtown apartment complexes, even as the city’s
rental market continues to thrive. The privately owned Zender Family Limited Partnership, which was founded 38 years ago,
placed its 18-property apartment portfolio up for sale in November.

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VIEWPOINT: A prayer for the housing market

Please, Chairman, forgive me, for I have sinned and I herewith repent. Please Chairman Bernanke, hear my prayers. Please give me only one more housing bubble and I will forever honor you with the restraint you desire. I have succumbed to the seven deadly sins of investing and I herewith vow never again to do so, so long as you let interest rates continue to fall. I have been weak in seven ways: Hubris. Yes, it is true. I believed…

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Premier Properties to be liquidated

A judge reclassified the bankruptcy status of Premier Properties USA today,
clearing the way for a U.S. trustee to take hold of the company and begin selling its assets.

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Local restaurants land at airport

Top-name Indianapolis restaurants including Shapiro’s Deli, Harry & Izzy’s, Scholar’s Inn and Slippery Noodle Inn could land restaurants at the new…

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L’explorateur, Scotty’s & Tango

I’ve got a couple of downtown restaurant nuggets. But first, mark your calendars: The summer edition of Devour Downtown starts Monday. Enjoy a special $30 menu at many of downtown’s top eateries for two weeks. Bon appetit!

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Read and discuss latest headlines

This week’s print IBJ is heavy on real estate news, just the way I like it. Check out some highlights:

Big plans for Lafayette Square
Lafayette Square Mall could look a lot like the…

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Analyzing Speedwayâ??s success

If you were at the track over the weekend or in the past few weeks, you made your way through Speedway,
an island of stability in a county where some other older communities, like Beech Grove, are slipping into
decay.

Speedway…

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Castalia planning green neighborhood: Carmel-based custom homebuilder lining up financing for Mooresville community with 144 eco-friendly homes

In terms of eco-friendliness, few homes in central Indiana boast much more than a high-efficiency furnace or low-flush toilet. But a Carmel-based custom-home builder is so certain the region is ready to embrace the green movement that he is willing to risk investing in a residential community designed to achieve national environmental recognition. Frank Redavide, president of Castalia Homes LLC, is finalizing financing for the project and plans to start construction within 60 days. The 144-lot development, called Villages of…

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New Lafayette Square owner pitching major expansion

Lafayette Square Mall could look a lot like the revitalized Glendale Town Center in a few years if the mall’s new owners get
their way. A proposed site plan shows that New York-based Ashkenazy Acquisition Corp. doesn’t intend to settle for filling
the mall’s ample vacant space.

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Construction behemoth Skanska sees potential in Indy: U.S. division of Swedish-based company sets sights on health care, education, pharmaceutical building sectors

New Jersey-based Skanska USA Building Inc., a division of the $23 billion Swedish construction powerhouse Skanska AB, arrived in Indianapolis in April. Named last year as the top green contractor in the nation by Engineering News-Record magazine, Skanska USA is recognized in particular for its projects in the health care, higher education and pharmaceutical sectors. Its largest project, however, is the $998 million Meadowlands football stadium under construction in New Jersey. Locally, Terry Parrott, 50, is in charge of operations….

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Veteran apartment pro starts development firm: Sebree teaming with Thompson Thrift on venture

John Sebree is launching Watermark Residential as a partnership with the owners of Carmel-based Thompson Thrift, a development and construction firm best known for its retail strip center projects. Thompson Thrift was eager to diversify its business, and apartments are as attractive as ever: The subprime mortgage meltdown has reduced the volume of new single-family homes, and the condo market also is hurting. Meanwhile, apartment occupancy rates are sky high in many markets, including Indianapolis, and the prospects for rent…

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