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City Unveils Plans for Mixed-Use M-F Project in Downtown Indianapolis

City Unveils Plans for Mixed-Use M-F Project in Downtown Indianapolis

City officials have announced the winning bid for the reconversion of a prime Mass Avenue parcel in downtown Indianapolis. The development team will be comprised of apartment specialist J.C. Hart Co., retail developer Paul Kite Co. and architecture firm Schmidt Associates. The anticipated cost of the project is approximately $43…

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Creditor Files to Acquire Comfort Suites City Centre for $7.5M

Creditor Files to Acquire Comfort Suites City Centre for $7.5M

New York-based German American Capital Corp. could become the new owner of the Comfort Suites City Centre in downtown Indianapolis. In February, the property’s current owner, Warsaw Hotel Partners LLC, an affiliate of Dora Brothers Hospitality Corp. in Fishers, filed for Chapter 11 bankruptcy protection. The petition listed $1 million…

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Thompson Thrift to Break Ground on Fishers Marketplace Mixed-Use Redevelopment

Thompson Thrift to Break Ground on Fishers Marketplace Mixed-Use Redevelopment

Terre Haute-based Thompson Thrift is set to break ground on the mixed-use Fishers Marketplace redevelopment at State Road 37 and 131st Street. The first phase of the project will include a luxury apartment complex and a retail center, the Indianapolis Business Journal reports. Construction of the Addison Landing at Fishers…

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Mainstreet Property to Develop $15.7M Seniors Health Care Facility in Indianapolis

Mainstreet Property to Develop $15.7M Seniors Health Care Facility in Indianapolis

Mainstreet Property Group LLC has gained approval from the Indianapolis Metropolitan Development Commission to build a $15.7 million senior health care center on the city’s east side. According to the Indianapolis Business Journal, a portion of the project could be financed by $7.4 million in city-issued bonds. Plans call for…

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Steak n Shake to Acquire Historic Office Building in Downtown Indianapolis

Steak n Shake to Acquire Historic Office Building in Downtown Indianapolis

The sale of the historic Ober Building in downtown Indianapolis has been approved by the Metropolitan Development Commission on behalf of the Capital Improvement Board of Marion County. According to the Indianapolis Business Journal, an affiliate of the locally based Steak n Shake restaurant chain will pay $3.8 million to…

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Appirio to Open 12,500SF Office, Cloud Computing Center in Downtown Indianapolis

Appirio to Open 12,500SF Office, Cloud Computing Center in Downtown Indianapolis

Appirio, Inc., a San Francisco-based technology company, has announced plans to open a new office and cloud computing development center in downtown Indianapolis. The company will invest more than $2 million in its expansion, which includes leasing, renovating and equipping 12,500 square feet of space in the Pan American Office…

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Corydon Acquires Historic Building for Occupancy; 16 Downtown Apartments for Sale

Corydon Acquires Historic Building for Occupancy; 16 Downtown Apartments for Sale

The Corydon Group has acquired a 17,000-square-foot historic building in Indianapolis for $1.4 million. The public affairs firm purchased the vacant property at 125 W. Market Street from local businessman John Thompson. According to the Indianapolis Business Journal, the Corydon Group plans to renovate the building by early November and…

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City Approves Pedestrian Skywalk for Downtown Parking Garage

City Approves Pedestrian Skywalk for Downtown Parking Garage

by Adriana Pop, Associate Editor The Metropolitan Development Commission has approved Flaherty & Collins Properties’ request to add two upper-level pedestrian connectors to the five-story parking garage planned for downtown Indianapolis. According to the Indianapolis Business Journal, one of the bridges would lead to West New York Street to the…

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Indiana University Breaks Ground on $52M Neuroscience Research Center

Indiana University Breaks Ground on $52M Neuroscience Research Center

by Adriana Pop, Associate Editor Leaders of Indiana University and Indiana University Health celebrated the groundbreaking of a new center for neuroscience research in Indianapolis. Scheduled to open in 2014, The Indiana University Neurosciences Research Building will be located at West 16th Street and North Senate Avenue and will offer…

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Milhaus Announces $38M Apartment Addition to Condos

Milhaus Announces $38M Apartment Addition to Condos

by Adriana Pop, Associate Editor Milhaus Development recently closed a construction loan with PNC Bank to build new residences at the Solana Apartments at the Crossing, a $38 million expansion of the former Renaissance Bay condominiums on the north side of Indianapolis. The first phase of the project includes 312…

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