Old National Bank has sued local developer Paul Kite, alleging he and his company, PK IND Partners LLC, owe millions of dollars for a loan tied to the 2008 redevelopment of property at Indianapolis International Airport.
The city of Indianapolis was told Wednesday by a judge that it can’t begin eminent domain proceedings on the former GM stamping plant site until its ongoing legal dispute with development firm Ambrose Property Group has been resolved.
Local developer Ambrose Property Group has leveled new allegations against the city of Indianapolis in a lawsuit it filed Tuesday in the ongoing fight over the company’s decision not to develop the former GM stamping plant site on the western edge of downtown.
Three new lawsuits have been filed against one of the co-founders of floundering Indianapolis residential development firm Litz & Eaton — including one suit that could tee up a legal fight with his former business partner.
Ambrose Property Group on Tuesday filed a notice of tort claim with the city of Indianapolis, a legal step that sets the stage for it to sue the city over its effort to force the developer to sell it the former General Motors stamping plant site west of downtown.
The city of Indianapolis told Ambrose Property Group on Wednesday that it will use eminent domain if necessary to take ownership of the GM stamping plant property Ambrose had planned to turn into a $1.4 billion, mixed-use development called Waterside “to ensure necessary redevelopment” still occurs there.
Indianapolis officials said Wednesday they expect to move forward with demolishing a blighted northeast-side apartment complex, after the owner of the property failed to request a last-ditch hearing by the state’s high court.
A legal challenge to a proposed mixed-use development in downtown Indianapolis’ Chatham Arch neighborhood will not be heard by the state’s highest court, paving the way for project to finally get under way after two years of delays.