Regions Tower owners face $75M foreclosure suit after missing loan deadline
The owners of Regions Tower are facing a foreclosure suit after an alleged failure to pay off nearly $75 million of loans on the landmark property in downtown Indianapolis.
Real Estate/Construction
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Settlement requires real estate brokers to disclose commissions
The National Association of Realtors is revamping its rules about commissions to comply with a settlement reached with the Department of Justice. The settlement requires brokers to disclose commissions on listings published through the Multiple Listings Service.
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Web Exclusive: Attorney’s restoration brings river house back to life
Before she even saw the house at auction, Beverly Corn firmly put her foot down with a resounding no. “I kept saying, ‘I’m not doing it. I don’t know what donkey you think is going to drag me into this, I’m not doing it,’” Corn said. But that was two years ago, before the newly christened Riparian House in her childhood hometown came back to life with her help.
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Economic excitement: Immigration law firm plans to boost businesses, communities with foreign investors
Marco Moreno was introduced to the idea of economic development by watching a rundown, forgotten neighborhood in Indianapolis get a second chance. He came to the Circle City to study law and was intrigued by the neighborhood redevelopment work. A few years later, his interest was reignited when he learned how regional centers were boosting international funding for projects designed to grow businesses and help communities in the United States. Now the immigration attorney is running a unique regional center in Indianapolis.
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Lake Michigan shore fight continues in court, Legislature
The years-long struggle between public and private rights along Indiana’s Lake Michigan shoreline continues in the Indiana Statehouse and in federal court, even as the state marks the two-year anniversary of a landmark Indiana Supreme Court decision that ruled in the public’s favor.
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Articles
Section of downtown Indy’s Jail II building slated for demolition in revision of $120M redevelopment plan
The developer that plans to revamp a pair of former correctional facilities on Indianapolis’ near-east side for housing, retail and entertainment uses has modified its vision for the project due to structural issues with one of the buildings.
‘Monumental moment’ as Morgan Co. begins construction of new judicial campus
After years of discussion, Morgan County has broken ground on its new $45 million judicial building.
AG’s office reaches $75K settlement with entities engaged in Marion Co. real estate fraud
Indiana Attorney General Todd Rokita has reached a $75,000 settlement with eight respondents who were part of a real estate fraud operation in Marion County.
Real estate lawyer Reddick named president of Marion Co. Capital Improvement Board
Longtime real estate attorney Marci Reddick has been named president of the Capital Improvement Board of Marion County, the city announced late Thursday.
Default judgment upheld in Steuben Co. property dispute
A group of Steuben County residents seeking to overturn default judgment in a lakefront property dispute failed in their bid to convince the Court of Appeals to allow them to intervene or to order the trial court to set aside the default judgment.
COA again denies attempt to stop new construction in historic Indianapolis district
Continued attempts to halt the construction of a parking lot and retail center in a historic Indianapolis district by a collection of nearby homeowners has been bulldozed after the Court of Appeals of Indiana ruled the residents lacked standing when they failed to allege injury as a result of the project.
$120M project from Elevator Hill developer picked for Jail II property
The firm leading ambitious redevelopment plans for the former Angie’s List campus on the east side of downtown — now known as Elevator Hill — is the city’s pick to take on the former Jail II and Arrestee Processing Center right next door.
COA affirms judgment for roofing company against subcontractor, reverses to determine accurate prejudgment interest
The Court of Appeals of Indiana has affirmed summary judgment, damages and attorney fees for a roofing company after its relationship with a subcontractor turned sour. However, the court reversed to determine the appropriate award of prejudgment interest.
COA partially rules for town in property, ITCA dispute
An Indiana town will receive partial judgment from the Court of Appeals of Indiana on fraud and constructive fraud claims brought against it by a property owner who claimed the town backed out on its promise to purchase land.
COA: Property transfer for Munster redevelopment an equitable mortgage, not sale
A sale of property in Munster that was subsequently transferred from the buyer to the town for redevelopment purposes was not a sale triggering a payment provision for the original owner, but an equitable mortgage, the Court of Appeals of Indiana has ruled.
Indianapolis man pleads guilty in real estate rental fraud scheme
An Indianapolis man pleaded guilty Tuesday to running a real estate fraud scheme that defrauded investors of millions of dollars.
‘Undiminished’: 92-year-old Boonville lawyer still actively practicing
Laying out a big, clean sheet of paper, 92-year-old attorney Don Ashley gathered his measuring tools, sat down and got to work. Five days a week, the longtime Boonville lawyer gets up and goes to the office, where he practices and consults at his daughters’ title company.
Janzen: Real estate laws hurting climate change fight?
Midwestern farms are sitting on an untapped resource to meet climate change goals, namely, millions of acres of farmland that have always been farmed to maximize production. Soil and climate scientists are finding that with some production changes, such as planting cover crops during fallow periods to ensure soil is always pulling carbon dioxide out of the atmosphere, farmers can increase soil uptake of carbon in farmland.
City seeks new uses for old jail buildings in downtown Indy
Indianapolis hopes to spur more movement with a request for development proposals for historic buildings at 752 E. Market St. and 730 E. Washington St. The former Arrestee Processing Center on Market has been closed since 2017 (except for a section used for the Reuben Engagement Center until 2020) and the Jail II building on Washington will be vacant after inmates are fully moved to the Community Justice Campus in Twin Aire.
Leverton: Unique legal consideration with industrial outdoor storage
By Justin Leverton Indianapolis is uniquely positioned as one of the top industrial markets in America. With its easy access to air, train and truck transport, it is one of the few industrial markets that was not seriously impacted by the Great Recession. Nowadays, the Indianapolis industrial market is booming, with few vacancies. A burgeoning […]
Boyers and Hetzel: Building material price increases create challenges
While the COVID-19 pandemic has altered our day-to-day lives and experiences, the construction and real estate development industries have had to address how to effectively handle a particularly difficult issue that has arisen: unprecedented price fluctuations with a wide variety of building materials, perhaps most notably with lumber, where prices rose by as much as 400% this spring.
Spickelmier: 7th Circuit’s decision impacts tenants who purchase real estate
A significant decision came out of the 7th Circuit this September in the world of environmental practitioners and professionals, but many real estate tenants, developers, owners, investors and attorneys who do not specialize in environmental law may not appreciate the impact of this decision on due diligence, timing and costs for preserving a property owner’s defense against Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) liability
RE/MAX claims franchisee steered brokers to competitor
RE/MAX is suing one of its local franchisees for allegedly instructing his employees to join a national competitor so that he could later follow them and collect a recruitment bonus.
Basic updates for repurposing of City-County Building would cost more than $35M
City officials on Monday released a long-anticipated request for developers to submit ideas for reuse of the 28-story Indianapolis City-County Building, along with studies that show it would take more than $35 million in basic upgrades to repurpose the structure.