Developers roll out barrage of projects
It was a big year for downtown development proposals. Two in particular grabbed headlines: Legends District SoDo and Penn
Centre.
Urban Development
Articles
Concert hall component would test demand
Entertainment is a big part of a $480 million development proposed for the south side of downtown–plans include a 3,400-seat
theater to attract the likes of Bruce Springsteen and first-run tours of Broadway shows such as “Wicked.” The question is
whether the city can support another midsize venue.
SoDo proposal faces stiff odds
If Circle Centre mall were built today, it would cost $420 million. Throw in another $60 million, and you’ve got the price
of Legends District-SoDo, a proposed mixed-use development on the south edge of downtown.
Turf war unfolds in Babe Denny neighborhood
A long-neglected neighborhood south of downtown called Babe Denny suddenly is in the spotlight, attracting attention from
city planners, code enforcers, land speculators and a politically connected attorney.
City fights property owners over value of land by stadium
A legal fight is brewing over a 2.3-acre parking lot sandwiched between the RCA Dome and Lucas Oil Stadium. The state is seeking
to acquire the property through eminent domain and is fighting an appraisal that puts its value at $7 million. The owners,
meanwhile, contend the land is worth about twice as much.
Ralston Square project would honor city’s first planner
A local development team is working on a 10-story, mixed-use tribute to a man who helped design the original plan for Indianapolis,
Alexander Ralston. The $60 million project, dubbed Ralston Square, would feature a 150-room hotel, 55 condos, a 617-space
parking garage and 41,000 square feet of retail space.
Wholesale District developments would replace parking lots
Now that most of the existing buildings along South Meridian Street downtown have been rehabbed for condos, restaurants or
hotels, developers are eyeing surface parking lots. Local companies filed plans recently to replace two such gaps in the Wholesale
District streetscape with mixed-use projects.
Pan Am development deal dies
Fallout from the subprime mortgage fiasco has scuttled a developer’s plans to acquire Pan Am Plaza and could complicate a
host of other development deals under way in Indianapolis.
Pan Am buyer to raze rinks
A Texas firm has agreed to buy Pan Am Plaza’s 12-story office building and skating rinks and is planning to replace the rinks
with a more-than-$50-million restaurant and retail development.
Hotel tower planned by stadium, Lilly campus
After years of designing banks, churches and condo conversions, Prince/Alexander Architects Inc. is working
with unnamed partners on a plan to replace its headquarters with a $47 million, 24-story hotel and condo development called
West Merrill Tower.
Downtown hotel towers in works
South-side developer J. Greg Allen is pitching a massive project along Pennsylvania Street downtown that includes hotel towers–one
28 stories, the other 17–to be built on property now used mainly for surface parking.
Rescue for MSA site fell short
A high-profile local firm that quietly negotiated last fall to salvage the stalled redevelopment of the Market Square Arena
site abandoned its plans when the city decided instead to solicit new proposals early this year.
East end of Mass Ave poised for rebirth
Bustling foot traffic at lunchtime and at night helps sustain many of the restaurants, shops and galleries in the vibrant
Mass Ave downtown neighborhood. But few of the Massachusetts Avenue shoppers and diners on foot venture east of the psychological
barrier that is College Avenue.
Condos offering live/work space are hot
The age-old concept of living above your workplace is catching on again in Indianapolis, just as the developers of Douglass
Pointe Lofts had hoped. The $2.65 million landmark at 25th and Delaware streets already will soon also be known for a diverse
roster of local businesses.
Kosene condos tout affordability in downtown market
Kosene & Kosene Residential Inc. pioneered the downtown market for new-construction condos with luxury projects named after
classic cars. Now, the locally based company is striving to attract buyers for its latest project by adding a new standard
feature: affordability.
Duke, Lauth, Mansur join MSA site fray
A who’s-who of local firms is planning bids to redevelop the Market Square Arena site with mixed-use projects that would depart
sharply from previous efforts focused on residential. New plans are expected to include retail , offices, apartment units
and condos backed by high-profile local developers that didn’t bid before.
Crown Hill development showdown looming
Debate over a developer’s plan to buy 71 acres of woods and wetlands on Crown Hill Cemetery’s northern edge for a retail-and-residential
project will come to a head this week when the Metropolitan Development Commission votes on the proposal.
Meridian Street landmark gets new life
Buckingham Cos., the Indianapolis-based owner/manager of more than 60 apartment complexes in five states, has broadened its
development sphere to include three square blocks of downtown real estate.
Suburban builder J. Greg Allen to tackle downtown
J. Greg Allen & Associates has made a name for itself building suburban subdivisions, office buildings and retail complexes.
Now, the developer is poised to tackle a pair of projects downtown.
Canal site picked for $33M project
A local developer plans to build a $33 million, four-story apartment and retail complex on the Central Canal just north of
Michigan Street. Flaherty & Collins Properties has the three-acre parcel under contract from American United Life Insurance
Co.