Urban Indiana

Purdue, High Alpha partner on business, startup programs to be housed at Bottleworks

Purdue University and Indianapolis-based venture studio High Alpha announced a joint partnership Thursday that will place students and startups under one roof and bolster the university's presence in downtown Indianapolis.

High Alpha's headquarters space at 830 Massachusetts Ave. in Bottleworks District will house executive education programs in the Mitch Daniels School of Business alongside programs at Purdue Innovates, an initiative supporting Purdue-connected inventors and entrepreneurs.

"We'll literally be living in the best startup ecosystem in the state," Purdue President Mung Chiang told IBJ. "Naturally, we'll bring our inventors over there, and they will participate in the High Alpha programs. It's just a very natural match."

More below:
https://www.ibj.com/articles/purdue-high-alpha-partner-on-business-startup-programs-to-be-housed-at-bottleworks

Trio of developers plans apartments, offices, restaurant in North Mass area

The trio of developers behind The Box Factory—the warehouse redevelopment containing a climbing gym and coffee shop northeast of downtown's North Split—are a step closer to transforming more of the emerging neighborhood.

Two proposed projects from Stenz Corp., Pure Development and Third Street Ventures are expected to be developed west of The Box Factory at 1411 Roosevelt Ave. The planned developments include an apartment complex and a combined office and restaurant space.

Another apartment complex, called Connect, from a different developer also is slated for the area but in a later phase.

More below:
https://www.ibj.com/articles/north-mass-development-plan-receives-council-committee-approval

Developer behind $22.6M renovation of Mass Ave trustee building secures incentive from IEDC

The ongoing redevelopment of the former Center Township Trustee building on Massachusetts Avenue has received a financing boost from the state's economic development arm.

Indianapolis-based Landmark Properties Inc. has agreed to terms on a $2 million redevelopment tax credit from the Indiana Economic Development Corp. to support the building's $22.6 million overhaul. A contract for the credit was signed on March 14.

The tax credit deal for Landmark is structured somewhat like a loan, according to Erin Sweitzer, vice president of external communications for IEDC. Landmark will pay interest for four years and then a balloon payment of $1 million, with the balance then forgiven.

More below:
https://www.ibj.com/articles/developer-behind-22-6m-renovation-of-mass-ave-trustee-building-secures-incentive-from-iedc?fbclid=IwAR2mkpQR6X3suxnydEcwWwcb8FNHPKVOTqcikTahwXVs0KT3EOJo-OyKGCI