Plans for permanent stage at White River State Park finally coming to fruition
The project’s $15.75 million second phase is under construction now and will bring a permanent concert venue to the 250-acre park when it’s finished in June.
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Indianapolis property manager arrested, accused of multimillion-dollar Ponzi scheme
Bert Whalen and his Oceanpointe Property Management used fake leases to dupe investors into buying run-down rental properties in Indianapolis, according to an indictment made public Friday. No charges have been disclosed against his partner, former “Fox and Friends Weekend” host Clayton Morris.
Primeval Brewing opens taps in Noblesville after long run-up
After nearly two years of preparation, Primeval Brewing co-founders Nathan Compton and Tim Palmer opened their European-style beer hall in Noblesville to a line that wrapped around the block.
Owner seeking buyer for Lafayette Square Mall
Lafayette Square Mall is up for sale. And whether the Indianapolis-area’s third largest shopping center remains a retail property or is redeveloped into something else will be determined by the buyer.
Target jumps into holiday season with third-quarter earnings bang
Third quarter online sales rose 31% for Target in the third quarter. And customer traffic to its stores and website rose 3.1%.
Lawsuit filed by Ambrose alleges city tried to take stamping plant land for Infosys campus
The company said in its 28-page complaint that Mayor Joe Hogsett’s administration had threatened to take the site through eminent domain in 2017—two years before it’s latest threat to use the legal maneuver to buy the land. That led Ambrose to add a clause to its project agreement with the city meant to prohibit the Hogsett administration from pursuing eminent domain in the future.
Former Marsh store could become apartment building
The bankruptcy of Marsh has forced developers throughout central Indiana to find creative reuses for the former supermarket spaces. In Martinsville, plans are being finalized to transform a Marsh husk into a two-level apartment project as part of a $3 million redevelopment.
Children’s Museum, city join forces to find options to save historic Drake building
The process will give developers an opportunity to introduce ways to preserve the 91-year-old building at 3060 N. Meridian St., which the museum had planned to demolish.
Construction of South Meridian condo project might be phased
The developer was forced to rethink the project across from Circle Centre mall after anticipated costs ballooned past the expected $8 million to $10 million investment.
KKR makes formal approach to Walgreens on possible record buyout
Walgreens Boots, which has more than 50 stores in central Indiana, has a market value of about $53 billion and $16.8 billion of debt. At that size, a take-private deal by the company would top the largest leveraged buyout in history.
Memory Bank: Band leader comes to Indy in 1946
Jazz singer, saxophonist and band leader Tony Pastor signs his name on albums and photos at Wasson’s department store in downtown Indianapolis on July 19, 1946.
Album, CD business booms for one firm, even as streaming grows
Over the last decade, streaming sites and compressed file-sharing technologies such as MP3 have chased most “physical” media from the forefront of the audio and video recording industries. But Chip Viering sees that as an opportunity.
Q&A with Gavin Thomas, Bottleworks project chief
Gavin Thomas, 43, joined Wisconsin-based Hendricks Commercial Properties in August after five years working in development at Kite Realty Group Trust.
French Lick Resort to open hotel addition
The addition—part of a $17 million expansion project—are adjacent to the resort’s Event Center and French Lick Casino.
Sears to close 96 more stores, citing ‘difficult’ environment
The shutdown of 96 more Sears and Kmart locations will leave just 182 outlets for the company, which was once America’s biggest department store chain.
As other retailers stumble, dollar stores are on growth tear
Consider the humble dollar store: modest in size, basic in appearance and laser-focused on selling cheap stuff. But don’t discount them: These stores are big business.
Former HHGregg, Marsh exec takes reins at struggling retailer Pier 1
Retail industry observers are speculating that the appointment of Robert Riesbeck is likely to mean a bankruptcy for Pier 1 in the near future, based on his track record.
Kite Realty Group lands Nora Plaza in $29M deal
The 139,743-square-foot retail center at 1300 E. 86th Street, anchored by Target, Marshalls and Whole Foods, was sold by a joint venture consisting of RPT Realty and an institutional partner.
Arbor Homes expands into Louisville market with acquisition
The deal marks Arbor’s first entry into a territory outside of central Indiana since it was founded in 1994. Arbor is the Indianapolis area’s most active home builder.
In first major project since Waterside exit, Ambrose plans logistics center campus in Mount Comfort
The Indianapolis-based firm on Tuesday broke ground on a $78 million, 508,104-square-foot building—the first of four planned structures as it shifts focus to industrial development.