Efforts target blight on 16th

October 13, 2009
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The Indianapolis Housing Agency has bought a troubled low-income housing project called Caravelle Commons and is working on plans to redevelop the complex to better connect with the Herron Morton Place neighborhood. Next door, Kroger has revived efforts to acquire land and plan a new supermarket at 16th and Central Avenue to replace an old location. The chain bought the corner a few years ago and closed on a vacant parcel that was previously part of Caravelle earlier this year. Together, the developments could represent a turning point for a blighted stretch of 16th Street. At a minimum, the housing agency plans to reopen Park Avenue, which now dead-ends in the complex, and take down fences that surround the apartment buildings. But there’s a “good chance” the plans will involve demolition of the existing complex, at 1643 N. Park Ave., and the construction of a more urban-looking replacement, said Bruce Baird, the group’s director of strategic planning and development. Check out the full story here. (You can sign up for a free 12-week subscription to IBJ.com.)

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  • That's the best news I have heard in a very long time. I vote for the total demolition!
  • Still not enough justification for charging $250,000 for condos in that area. But I guess that's how gentrification works.
  • If this is real and not the hype we heard three years ago, then it will be the best thing to happen to the Near North Side of Indianapolis in decades. A couple good schools later and we can be back to one of the most desired neighborhoods around.
  • This is LONG over due.

    In other grocery news...the Omailia's at 56th & Emerson/Kessler is CLOWING. Sad day. That's my 'hood and it will be missed
  • Great news for such a LONG OVER DUE re-development. I think the corner of 16th and College is probably the most crime ridden, under-utilized, and disconnected spaces in all of of downtown. Low density development should be banned from the city core. This will only benefit EVERYBODY...FINALLY!!
  • If you want good neighborhood schools, you might check out the neighboring IPS schools. For instance, School 56 has higher test scores than the Indiana Average. Most of their scores are in the 93 percentile, http://www.education.com/schoolfinder/us/indiana/indianapolis/francis-w-parker-school-56/test-results/.

    Also, check out the other IPS schools. There are many, many great programs within the system that rarely get mentioned and places like the Near-North side should celebrate the excellent schools.
  • Great News
    I live at the corner of 16th and College and think that this is great news. The Community Spirits liqour store has somewhat cleaned up, now if we could get the SW corner building that is half demolished cleaned up, we'd be in good shape!
  • Finally!!!
    It's about time that blight be removed from our community. And a modern grocery store in the neighborhood would be awesome.
  • Hurry the hell up please
    I grew up in those apartments, and they been talking about rebuilding for years. Personally i'm tired of hearing about it be like NIKE and just do it. And you know what, it's sad when you want your old neighborhood torn down.I've had too many childhood friends die in or around that neighborhood.CRIME is everywhere nowdays but down there it is extremly excessive.I heard it used to be a graveyard or something like that is it true?

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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