A racy redesign

July 19, 2007
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500 Festival HeadquartersCheck out the new look for the former Junior Achievement building at 21 Virginia Ave. The office building is getting a new name, 500 Festival Building, along with a renovation in anticipation of the arrival of the nonprofit volunteer organization that puts on the 500 Festival Parade and other events. The 1919 building is owned by GSA Investments and is listed for sale by Harshmann Property Services, at an asking price of roughly $3 million. The project is across the street from the former Zipper Building, which Broadbent is renovating.
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  • CorrNDJuly 19, 2007 10:54 AM
    Man this area is booming! In the span of only a couple years, this entire block of Virginia is going to be redone.
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  • CoryWJuly 19, 2007 12:18 PM
    I am very pleased with all of the redevlopment that has taken place along that stretch of Virginia. With Penn Centre due to break ground in October, the SE quad is really pumping wth activity.
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  • indyJuly 19, 2007 12:26 PM
    coryw, what is penn centre?
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  • cityfanJuly 19, 2007 12:57 PM
    Indy, there was an article about Penn Centre in IBJ about two weeks ago. A developer is proposing two towers with hotels, condos and restaurants. The project will be across the street from Conseco Fieldhouse on what are now two surface lots.
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  • indyJuly 19, 2007 1:04 PM
    thanks cityfan. hopefully the design turns out better than the terrible jw marriot.
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  • cschoutenJuly 19, 2007 1:14 PM
    There was also a blog post about Penn Centre. Here's the link: http://216.37.14.55/blog/?p=191
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  • JTMJuly 19, 2007 1:16 PM
    Has anybody heard anything new about the NW corner of Penn and Washington?
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  • JiggaJuly 19, 2007 7:03 PM
    Not bad for what they had to work with.
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  • TSJuly 20, 2007 12:25 PM
    Cory, any idea of what will become of the current home of the 500 Festival once they move? It's a beautiful space, though not terribly efficient as an office building, but it's physical attachment to IMG is kind of strange.

    I'd be interested to find out what IMG or whoever owns the Festival House will do with it once it's vacated.

    It's exciting for them to be getting a newly renovated building that was always intended for office space.
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  • AnonymousJuly 26, 2007 9:39 PM
    Penn Center is a proposed 28-story tower that IHPC whill chop down to 8 stories.
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