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Developer submits incentive request for $200M project at Lafayette Square
The city on Wednesday confirmed it has received an incentive application from Sojos Capital LLC for tax-increment financing but declined to provide additional details.
The city on Wednesday confirmed it has received an incentive application from Sojos Capital LLC for tax-increment financing but declined to provide additional details.
The Department of Metropolitan Development on Thursday released two requests for proposals covering the three structures to developers.
Plans for the shopping center property call for a new name and multiple new uses, including apartments, hotel, sports facilities, concert center, a police station and a public trail and canal.
Officials are taking a fresh, hard look at municipal-owned real estate as part of a larger effort to repurpose several sites that will be largely vacated as agencies move to the Community Justice Campus.
The restaurants are set to open in early 2022, following a $1 million renovation of the property by restaurant group O’Reilly Holdings LLC, which owns both concepts.
The project was given a final, and unanimous, approval by the city’s Metropolitan Development Commission—the last step necessary to allow the city to request the funds from the Indianapolis Bond Bank.
Traders Point first announced plans for its Midtown campus in January 2020, a few weeks after it closed on its $7.6 million purchase of the Marsh store east of Broad Ripple.
Each project would range from $7 million to as much as $40 million, with funding coming from bonds tied to an expiring pension levy.
The approval will allow Hamilton County Area Neighborhood Development Inc. to develop 11 affordable, for-rent homes at the southwest corner of 141st Street and Cumberland Road.
Contaminated soil and groundwater at the former General Motors plant would be cleaned up under a plan to help open up the land for redevelopment.
Already, the project is having an impact on existing businesses, including Village Home Furniture and Clocks, whose owner said it plans to close the store this month, rather than move.
Memory Ventures, a local media digitization company, is taking over the redevelopment of a former Marsh Supermarket in Fishers. The site previously slated for partial demolition will now be turned into the growing company’s new headquarters.
The Human Bean, which opened its first shop in 1998, is coming to Westfield. The local franchisee said he’s scouting Hamilton County for more sites. Also this week: Noble Roman’s, Big Woods and more.
Ohio-based Republic Development and Carmel-based J.C. Hart have entered into an agreement with Hamilton County to buy a parking lot and develop a 226-unit apartment building with retail space and a 350-space parking garage.
The planned closing of the 102-year-old factory in the southwestern corner of downtown likely will throw into play a nearly 18-acre site that real estate experts say would be attractive for myriad uses.
A deal to build a new family center at Broad Ripple Park could be just the first of several privately funded projects considered by the park system.
The parcels, which are south of West Washington Street and east of South Harding Street, are expected to be turned into permanent parking lots and additional zoo exhibits in the coming years.
Homeowners in Johnson Addition, which was built in the late 1950s and early 1960s, say their neighborhood is charming and one of the few affordable neighborhoods left near Carmel’s downtown—and they want it to stay that way.
Interior demolition appears to have already begun, and several tenants told IBJ that they have either already moved out or have been asked to vacate by the building’s owner.
Historic preservationists and midtown neighborhood leaders don’t want to lose the Drake apartment building that its owner, The Children’s Museum of Indianapolis, plans to raze.