Old Town’s sister companies are continuing to develop projects in Carmel, working on a large mixed-use development that will help transform downtown Westfield, and expanding their reach into West Lafayette, where the company is part of a $1 billion project being constructed next to Purdue University’s campus.
Inventory remains low. As of Sept. 1, the region had just two months of supply—10% less than at this time last year—meaning it would take just two months to sell out the current inventory of houses if no more came on the market.
This photo of an Indianapolis City Market vendor taken Oct. 6, 1923, shows the back side of the stands, with vehicles pulled up and fruit and vegetable crates tossed aside.
The offer came during a 40-minute meeting at Ambrose’s headquarters on Monument Circle, at which the two sides discussed their ongoing dispute over the city’s insistence that it acquire the 91-acre property, using eminent domain if necessary.
Ambrose Property Group says it intends to accuse the city of slander of title, defamation, tortious interference, fraud “and any and all other relevant tort claims.” The city contends it has acted properly.
Third Street Ventures has received permits for nonstructural interior demolition of the former fire station near 56th and Illinois streets, but it hasn’t yet firmed up the building’s commercial use.
Thousands of restaurants are experimenting with virtual spinoffs, offering new cuisine concepts with food prepared inside pre-existing kitchens. Others are opening “ghost kitchens,” where all food is prepared to-go.
IBJ real estate reporter Mickey Shuey describes the downtown restaurant scene, with details about what’s closing, what’s opening and what’s coming in the future. Plus, find out where you’re likely to spy some IBJ reporters the next time you’re out for lunch.
Burger Chef launched in Indianapolis in 1958 and opened its first downtown location in September 1965.
A host of big-name restaurants has closed downtown over the past year amid financial struggles and disappointing sales.
Members of the Indianapolis Historic Preservation Commission on Thursday said they would be hesitant to support the design for the proposed $60 million, addition. One even called it a “brutal proposal.”
The Garage Food Hall is part of the much larger, 12-acre, $300 million Bottleworks development at 850 Massachusetts Ave. that will include retail, residential, office and restaurants, as well as a hotel.
The craft distiller is partnering on the project with Indianapolis-based Jackson Investment Group, which this summer acquired the 10,300-square-foot building where the tasting room will operate.
The energy bar giant said it added 24,000 square feet to the 185,000-square-foot building at 7575 Georgetown Road on the city’s northwest side. About 430 people work at the bakery.
Milestone Contractors LP received approval for incentives from the city of Indianapolis tied to an effort to build a 25,000-square-foot office building and 52,000-square-foot garage in Beech Grove.
Holmdel, New Jersey-based Monmouth Real Estate Investment Corp. bought the 615,747-square-foot building at 1151 S. Graham Road from local firm Scannell Properties earlier this month.
Acapulco Joe’s, 365 N. Illinois St., has been acquired by Ezequiel Fuentes, who owns or co-owns nine other Mexican restaurants in the region, including one in Zionsville. It will close for a couple of weeks for renovations.
Turning a former German social club and gym into the offices of a medical claims management organization and international travel insurance company was no small order—especially because the building had to remain more-or-less true to its original form to qualify for the federal Historic Tax Credit program.
The 17-story building now known as Symphony Centre at 32 E. Washington St. was constructed in 1912 as the upscale Hotel Washington, a project developed by local hotelier J. Edward Krauss and designed by Indianapolis architecture firm R.P. Daggett & Co.
If all of the plans move forward, downtown would see an unprecedented deluge of new rooms. But developers and lenders are fretting over whether the market can support them.
