Flaherty shopping stake in Axis development
Flaherty & Collins Properties already is selling a stake in its brand new downtown Axis at Block 400 apartment development to cover expensive cost overruns on the project.
Urban Development
Articles
Business plan for 21c built on ‘aggressive’ projections
Indianapolis will be the first market where 21c Museum Hotels LLC competes with established art-centric hotels. Yet the company is so bullish about its future here that it expects to outperform its peers by more than 50 percent.
Developer plans $11M apartment project near state fairgrounds
BWI LLC has purchased an industrial property near Fall Creek Parkway and East 38th Street and plans to convert the building into 49 affordable and market-rate units.
Rivoli theater renovation would help spur arts hub
A plan to save the 1927 structure is beginning to take shape as part of a larger effort to transform the three-block stretch of East 10th surrounding the Rivoli into a magnet for arts-based organizations.
Indy’s east side among eight new federal Promise Zone areas
Housing and Urban Development Secretary Julian Castro announced the new Promise Zone designations Tuesday. The program seeks to increase economic activity, improve educational opportunities, improve health and reduce violent crime.
Upscale steakhouse coming to Illinois Building
Cleveland-based Hyde Park Prime Steakhouse has agreed to occupy 8,000 square feet in the building’s corner space at Illinois and Market streets, joining Giordano’s pizzeria on the ground floor.
Indiana may build $25M archive on downtown canal
Indiana is working on plans to build a $25 million state archives building on the Central Canal downtown, taking up green space and adding another institutional user to the Canal Walk. The canal site, across from the Indiana History Center, beat out three other locations the state evaluated.
With moratorium looming, filings surge for new gas stations
Since early March, when city officials announced plans to establish the moratorium in commercial areas adjacent to neighborhoods, the Indianapolis Department of Code Enforcement has received 18 applications to build at locations that would be subject to the ban.
Chamber, neighborhood group endorse justice center
The organizations see the controversial, $1.6 billion project as a catalyst for redevelopment downtown. A City-County Council committee is set to weigh the proposed development deal Tuesday night.
Will manufacturers move back to urban centers?
Effort in Indianapolis will try to entice manufacturers to rethink areas they abandoned.
Developer to tear down former Star headquarters
TWG Development LLC has abandoned plans to save most of the headquarters after deciding that renovating the oddly configured structure would be too difficult.
Fountain Square property values take off
Commercial real estate prices are skyrocketing in Fountain Square, where property owners seem emboldened by a resurgence of interest in the historic neighborhood southeast of downtown.
Maker-space movement touches down in Indy
The corner of Brookside Avenue and 10th Street, just off Massachusetts Avenue, could soon be the center of what city planners hope is a model to address industrial blight.
21c seeks $9M loan from city to turn Old City Hall into $55M hotel-museum
The project, which would add a modern 150-room hotel to the historic downtown building, also hinges on approval of an $11.3 million federal loan through the U.S. Department of Housing and Urban Development.
Museum-hotel chain plans location on old City Hall property
Louisville-based 21c Museum Hotels plans to build a hotel on a surface parking lot north of the old City Hall as part of a larger redevelopment of the property, real estate sources familiar with the deal said.
Vacant downtown building targeted for restaurant
Locally based Zink Architecture & Development is buying the vacant building near the intersection of College and Massachusetts avenues and plans to renovate it for restaurant use.
Historic church once again target of demolition
Local preservationists are rallying to save the 101-year-old church from being razed to make way for a gas station and convenience store. Its congregation wants to start fresh in a new facility.
IU Health on course to spare Methodist, close University
All signs point to University Hospital’s being shuttered as Indiana University Health goes from three downtown hospitals to two.
Developer bets $40M on mixed-use project near IUPUI
A West Lafayette firm plans to construct an 11-story downtown apartment and retail project that would add to the growing number of housing developments targeting IUPUI students.
Sprawling industrial complex near Cottage Home attracts buyer
Teagan Development has agreed to buy the 539,000-square-foot building near Mass Ave and the Monon Trail and plans to convert some of the space into restaurant and retail uses.