Binford's medical ghost town

May 28, 2009
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Binford Medical
                              ComplexThe hits keep on coming for the unfinished Binford Medical Complex at 65th Street and Binford Boulevard as the urgent care center that served as the development's anchor has left, at least temporarily. Plans for the $29-million, 17-acre medical complex called for several buildings with a total of 150,000 square feet, but only one building has been partially constructed and the property now is in foreclosure. The Binford Immediate Care Center halted operations April 30 but plans to re-open in the future, Bloomington-based Unity Physician Group wrote in a letter to patients. The only remaining tenant is Seward Sales Corp., which leases 2,200 square feet. An additional tenant, a radiology firm, is scheduled to move in but can't until the building is finished. In a 2006 story in IBJ, healthcare consultants had questioned the feasibility of the project by Binford Medical Developers LLC because of its location and lack of affiliation with a hospital system. Read more here.
  • We're overbuilding health care facilities in this area like we have strip malls.
  • I'll say it again. . . .we need someone smarter than greedy developers
    and land owners deciding where these retail establishments are built.
    Cory: It would be a great IBJ round-up to take an inventory of all the
    strip developments that were built (such as this) and never inhabited,
    or that were scarcely inhabited and failed quickly. I can think of
    three on the west side alone on the 56th street/LaFayette Road corridors.
    Another example: The former Marsh headquarters (for sale). . .less than
    a quarter mile away someone is building a new office complex. Senseless.
    It's a poor use of resources. A poor use of land. And if you think this is
    real economic development, think again.
  • Face it, there is very little good 'ol common sense in corporate America anymore. Would any of us thought bankers would get duped by the federal government to grant loans to the poor that can't pay their bills? Or that auto makers would get so duped by the unions to grant such generous pensions and health care that they can not adjust anywhere in a serious market downturn?

    And now we're going to let the gov'mint be owners of formerly public companies and unions part owners of auto companies. The owners of hospitals had better watch out, they've hung themselves out to dry with their own version of greed and they are next in the gunsights of the new administration.
  • Market forces are such a terrible way of allocating resources. Let's get rid of the market and have a czar downtown that tells developers what they have to build and landowners what they have to do with their property. That's a great friggin idea...
  • Hey, maybe a new casino, Goodwill or GM dealership will move in!
  • Funny you should mention that, Levi, since that is exactly what the new advinistration is up to. Telling companies what and how to do things, requiring more and more standards impositions, taxing more benefits, etc. Sorry state of affairs. Once again, people really didn't understand what change meant.
  • To BerwickGuy
    Having spent 20 years in banking, it wasn't the low-income loans that caused the housing crisis. It was the lack of regulations that made it possible to sell loans in the secondary market without any over sight. Add to that the banks turning a blind eye to out right fraud (massive marketing of option arms) it was a freight train that was unavoidable. Banks profits were based on the yield spreads and a quick sale of a loan versus the loan quality and its ability to perform.
  • Where were the parents in this decision?
  • Point well taken, MainStreet. As a former banker, I agree. My response was overzealous in direction towards the fed. However, they started the direction with their programs and then failed to assure their own watchdogs were doing their jobs. Ultimately, it was about corporate greed runamuck. Sad state of affairs we're in.

    So too much debt starts the downward spiral into a sinkhole and now the adminstration fixes the problem with more debt. The sinkhole will likely beome a blackhole in future years at the rate we're going.
  • To comment on the article, i would argue that corporate greed would mean a developer would want to maximize its profit. It must have thought that building something at this location was a good way to make money. However, as I'm sure this developer knows, there is a risk involved in any development and not all of these will pan out. I'm sure the greedy developer is as unhappy about this property being vacant as we are. It's a shame, but it's a pretty good location, and I bet something will be there before too long.
  • Wow, it seems like no matter what the topic is, people are still bitter about Obama being the President. Why does everything under the sun and trees have to be his fault? Seems really unintelligent when people blame a man who has only been President for a few months, yet never said much when we had eight years of ruin. Move on, and get over it!

    About this medical complex, I think that saturation is a big problem, and also location. There was information that this company ignored early on that proved this was a bad business idea.
  • Indyman78 - A little over the top, eh, with everything being blamed on Obama. Take a chill. Every President inherits problems. But rather than moan and complain openly about it, Mr. Obama needs to find real solutions that don't just shift the financial burden in a big shell game. Create his own legacy. Doing too much too soon - such as trillion dollar spending packages - is not smart. Yes, we can put some blame on Obama. And that's not a bad thing. He will make mistakes. Every President does. Don't get so defensive. Part of being a great leader is picking up from where a predecessor left off and moving ahead strongly. We'll see how it all shakes out. This financial crisis might be the thing that consumes his Presidency, like 9/11 did for Bush.
  • This space would make an excellent long-term care/hospice type facility.

    But I recall several years ago, reading in the IBJ as it was being built that it was a longshot to make it. The Community Hospital complex and all the various professional buildings that surround it - is not two miles away?? Who and what would the Binford complex serve that can't be done on Shadeland..

    P.S. politics are local.. let's give it a rest folks.
  • Don's Guns or IKEA. :)

    you heard it here first.
  • Da Hooey and I agree on something.

    What this town really needs is ready-to-assemble ultra modern Swedish furniture. I think that would give us that certain sense of place we seem to be after.
  • Is the Cincinnatti IKEA profitable? Does it draw shoppers with disposable income to the area? Is this what people want to buy? If so, then let's provide it.
    This reminds me of why so many people turned to Japanese imports...they were the kind of cars (quality and looks) that people wanted to buy...but the US makers thought they knew better.
  • Look at the developer and you will get your answers. Ken Schmidt is not exactly a popular man.

    I know the area very very very well and this parcel and development has been plagued by a number of extensive issues some public and some behind the scenes. This also isn't the highest and best use for the property. Now it is bogged down by a vacant shell of a building. That's a shame for an area undergoing a major rebound. Looks like the rest of that corridor is going ahead full steam.
  • Is Ken schmidt the guy who road raged his way into jail? Remember the guy who chased some mommy down in a mini van and fired away at her car cause she would not get out of the left lane on 37/binford/69?
  • No that was Schmoll. Equally crazy.
  • oh yeah.

    stay the F away from that intersevtion ladies. :lol:
  • Cream:

    What is the highest and best use? Let's remember the best part of the definition as well. Something that actually has marketability, demand, etc.
  • I was still on Staff when this was proposed and if I recall, we recommended denial. The land was/is wetland and had to have massive amounts of fill brought in and a number of variances.
  • You need to know the story
    Being the only employee of Binford Medical Developers, LLC besides the owner, I think the IBJ needs to report on the entire story of this project. This project has been in progress for YEARS! Everything was going well until April 2006 when the lender USA Capital, filed bankruptcy...2 weeks from completion date. It has been in bankruptcy court since then. He cannot get tenants because he doesn't have the money and he can't get money because he doesn't have the tenants. I think his idea is a good concept as a one-stop shop for medical needs. The proposal has 5 buildings and an outlot. And also the property isn't worth what it once was due to the economy! Maybe the IBJ should do some investigative journalism before they make assumptions! Just a thought!

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