State drops canal development
A 1-acre site along the Central Canal will not be developed, at least for now, a state official said in an e-mail. The state’s public finance director, Jennifer Alvey,…
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Indy developers, out-of-town deals
Check out a few of the projects local developers are working on outside Indy:
Kite Realty Group broke ground this week on Eddy Street Commons, a mixed-use village…
Panera coming downtown
Weber Grill Restaurant could soon get some company. Panera Bread Co. is close to a deal to take the remaining portion of the former Old Navy space in Claypool Court. If landlord Simon…
Kite pitches Pan Am plan
As promised, here is a siteplan from Kite Realty Group Trust that shows its preliminary plan to redevelop Pan Am Plaza. The plan shows seven restaurant, retail or…
Could Super Bowl lift projects?
News of Indy’s successful bid for the 2012 Super Bowl spread quickly among Hoosiers here in Las Vegas. Already, the selection has become a part of sales…
Siteplan sleuthing in Las Vegas
Hundreds of developers are circulating thousands of siteplans from more than 2 million square feet of exhibition space at the International Council of Shopping Centers convention in Las Vegas. The pitches include dozens…
Brownsburg power center planned
Two local developers are pitching retailers on a proposed 700,000-square-foot power center in Brownsburg. The massive project seeks to capitalize on a growing population center and the…
Fashion Mall expansion shrinks
Simon Property Group continues to pitch upscale retailers on an expansion of the Fashion Mall at Keystone, although the Indianapolis developer has scaled back the project. The plans now call for the addition…
The next housing challenge
As the housing debacle continues to unwind, another big â?? really big â?? issue in housing is going largely
unnoticed.
Houses built in the 1950s are at risk of falling into the same decay experienced by many older neighborhoods,
some of…
DeBartolo to buy Metropolis from Dominion Capital
Tampa, Fla.-based DeBartolo Development has reached a preliminary agreement to buy Plainfield’s Metropolis mall out of foreclosure
and hopes to hook Macy’s and Bass Pro Shops to anchor a second phase.
Tax appeals to open flood of business: Lawyers, consultants getting ready
Tax attorney Sandy Bickle looked forward this summer to taking her first two-week vacation since 1976. But the latest property reassessment and the tax bills to follow are expected to generate a slew of appeals, prompting Bickle to rethink her plans. “I’ll probably take one, but it won’t be two weeks,” lamented Bickle, who serves in an of-counsel capacity at Ice Miller LLP. “I expect to be very busy.” She’s not alone. Tax lawyers, consultants and appraisers all likely will…
Land banking: Banks grab top sites for branches, often years before they build
Many of central Indiana’s banks are filling their own safe-deposit boxes, but they’re not stuffing them with jewelry, legal documents or blackmail material. They’re banking parcels of land. The sites often are in fast-growing suburbs or redevelopment areas that hold potential for new brickand-mortar bank branches, sometimes several years down the road. Competition can be fierce for the prime sites, and other financial institutions aren’t the only nemesis for banks: Walgreens and CVS also are fighting over the best ground,…
Metropolis could get Bass Pro
Plainfield’s top retail destination could become a much larger draw if a Florida-based developer gets its way. DeBartolo Development has a preliminary deal to buy Metropolis and hopes to land Bass Pro Shops…
Update: CVS files renderings
Check out the renderings for a CVS pharmacy at the southeast corner of 16th and Meridian streets. A previous post on the development is here. What do you think? By request, the siteplan is
Trustee to intervene in Premier bankruptcy
The U.S. Trustee’s office plans to file a motion to intervene in a Chapter 11
bankruptcy case brought by Premier Properties USA Inc. because the development firm is insolvent.
Simons poised to give estate to IU
Billionaire philanthropists Mel and Bren Simon are laying the groundwork to donate Asherwood–their extravagant Carmel estate
and golf course–to the Indiana University Foundation, potentially to house a new think tank. The couple plans to downsize
into a home just outside the town square in the nearby Village of WestClay.
Car makers turn up pressure for bigger, but fewer, stores
Domestic automakers were already scheming about new ways to chop dealers–cutting costs to service them–as their market share
drained to Toyota and other foreign competitors. Now, an economy standing on the brakes could drive another round of dealer
consolidations that might not be a good deal for family-owned peddlers of metal.
Davis Homes faces lawsuits; DayMarc out of business
A depression in the home-building market has claimed a Fishers builder and continues to hammer locally based Davis Homes LLC–a
powerhouse for years that now is facing foreclosure on about 80 home sites.
Renovated Central Library spawns neighborhood revival
A local developer plans to spend up to $45 million building a “north village of downtown” on several parcels it has assembled
near the Central Library. Buckingham Cos. plans to build apartments, offices, restaurants and retail space-all surrounding
its headquarters in the three-story Stokely-Van Camp building at the southeast corner of Meridian and St. Joseph streets.
VOICES FROM THE INDUSTRY: Making green make sense in a competitive market
Day after day, the news seems filled with stories of disruptive credit markets, an economy teetering on recession, and increasing energy costs. As business professionals grapple with such issues daily, why would commercial real estate professionals consider the time and effort to “go green”? Historically, green initiatives suffered in part from stereotypical “tree-hugger” false perceptions. Such perceptions may lead people to believe that green investments simply aren’t worth it. The truth? The real focus has always been the efficient use…