Downtown Blog Posts

Buckingham plans $45M 'village'

April 28, 2008
Comments(16)
A local developer has big plans for the neighborhood around the renovated Central Library. Buckingham Cos. plans to spend up to $45 million building new...
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Mixed-use to replace nursing home

April 25, 2008
Comments(19)
Locally based Teagen Development Inc. plans to start next month on a $2.2-million retail and residential project that will replace an old nursing home at the northeast corner of...
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CVS to replace downtown IHOP

April 18, 2008
Comments(46)
CVS has filed plans to build a new store where an IHOP now stands at the corner of 16th and Meridian streets. The new pharmacy would replace the iconic...
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Paramount Tower getting redesign

April 18, 2008
Comments(33)
A development team is redesigning plans for a 16-story student-housing tower it hopes to build on a 2.3-acre site a few blocks east of the Central Canal. The developers,...
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JW work to begin in June

April 11, 2008
Comments(48)
A three-year project to build a new convention headquarters hotel along West Street now is scheduled to begin on June 1, immediately after the Indianapolis 500, said Mike Wells of developer REI...
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Kite eyes retail, hotel for Pan Am

April 7, 2008
Comments(52)
A local developer hopes to add restaurants and retail space and possibly more to Pan Am Plaza to capitalize on a growing convention center and the new Lucas Oil Stadium. Kite...
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IRT plans $3M renovation

April 7, 2008
Comments(11)
The Indiana Repertory Theatre has won a $3-million grant from the Lilly Endowment to fund renovations of the Indiana Theatre building at 140 W. Washington St. IRT plans to...
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Update: Wells auction delayed

April 4, 2008
Comments(3)
Brokerage firm Colliers Turley Martin Tucker has delayed an auction of three parcels near Meridian and 16th streets that previously housed the Payton Wells car dealership. Auctioneer Bob Getts...
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Retro Dunkin rendering

April 3, 2008
Comments(35)
The new Dunkin Donuts at Washington and Pennsylvania streets (reported here in November) likely will have a retro look that incorporates the old Roselyn Bakery sign. Plans call for neon signs and a stainless steel facade. What do you think?More

J.F. Wild building getting makeover

April 2, 2008
Comments(29)
A local firm has begun renovations on an historic 12-story former bank building at 129 E. Market St. Crown Property Group bought the J.F. Wild & Co. building from...
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Obama taking downtown space

March 31, 2008
Comments(31)
Sen. Barack Obama's presidential campaign plans to temporarily take over one of the city's most prominent retail spaces. The campaign has reached a deal to open an office in Flagstar Bank's former...
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L'explorateur eyes downtown

March 26, 2008
Comments(40)
More fuel for the local v. chain restaurant discussion: Chef Neal Brown is looking to move his popular L'explorateur restaurant from Ferguson Street in Broad Ripple to a new location near Monument Circle....
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Dome souvenirs & Babe Denny

March 20, 2008
Comments(4)
This week brought potential resolution for a couple of disputes in the neighborhoods surrounding Lucas Oil Stadium: Board limits RCA Dome souvenir proceeds to $200K The Capital Improvement Board today agreed to rework an...
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Developer details Penn Arts plan

March 11, 2008
Comments(52)
A 23-year-old entrepreneur plans to spend $3 million to transform the 82-unit Penn Arts apartment building at 16th and Pennsylvania streets into 45 upscale apartments, Tracy Donhardt More

Bertolini's in Circle Centre closes

March 10, 2008
Comments(45)
After a 12-year run, upscale Italian restaurant Bertolini's has closed its Circle Centre location. The restaurant, on the first floor of the mall next to P.F. Chang's and Champps, was part of...
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Rendering for Mass Ave project

March 7, 2008
Comments(26)
What do you think of the proposed replacement for a one-story, township-owned structure on Mass Ave? (Click for a larger version.) The $9 million plan, proposed by...
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Merrill Tower moving west

March 6, 2008
Comments(34)
Developer Stephen Alexander isn't fazed by a zoning setback for his $67 million West Merrill Tower. The Metropolitan Development Commission denied his request to vacate an alley...
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Cultural Trail wins national kudos

March 5, 2008
Comments(28)
A couple of topics to discuss: More praise for Trail In its March newsletter, New York-based Project for Public Spaces named Indianapolis one of five "Great Cities" thanks to the...
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Newsstand could be history

March 3, 2008
Comments(16)
The owners of Delaware News Co., one of the city's last remaining old-school newsstands, are getting out of the business after more than a dozen years. Phil...
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Penn Centre delayed but not dead

February 29, 2008
Comments(47)
Construction won't begin on the ambitious Penn Centre proposal for at least a few more months, but the project still is a go, said developer J. Greg Allen, who also...
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Payton Wells auction set

February 27, 2008
Comments(42)
An auction date has been set for three parcels near Meridian and 16th streets that housed the Payton Wells car dealership. The properties are 2.5 acres with a 50,000-square-foot...
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BW3 returning to downtown

February 25, 2008
Comments(29)
Buffalo Wild Wings hopes to be back downtown by summer. The restaurant chain plans to take about 6,800 square feet next door to Borders at the southeast corner of Meridian...
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What's old is new again

February 22, 2008
Comments(34)
On this nasty Friday, I've got a few updates on previous posts. Hope everyone has a nice weekend. Here goes: What was Flagstar thinking? Flagstar Bank has added yet...
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Circle Centre anchor struggles

February 21, 2008
Comments(32)
The parent company of Circle Centre Mall anchor Carson Pirie Scott has joined a growing list of retailers struggling to stay afloat after disappointing fourth-quarter sales. About half...
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Latest real estate headlines

February 19, 2008
Comments(29)
It's a busy week for real estate news. Here are a few headlines: Circuit City closes Clay Terrace store Carmel's high-end lifestyle center Clay Terrace has an empty big box. Virginia-based Circuit...
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  1. Apologies for the wall of text. I promise I had this nicely formatted in paragraphs in Notepad before pasting here.

  2. I believe that is incorrect Sir, the people's tax-dollars are NOT paying for the companies investment. Without the tax-break the company would be paying an ADDITIONAL $11.1 million in taxes ON TOP of their $22.5 Million investment (Building + IT), for a total of $33.6M or a 50% tax rate. Also, the article does not specify what the total taxes were BEFORE the break. Usually such a corporate tax-break is a 'discount' not a 100% wavier of tax obligations. For sake of example lets say the original taxes added up to $30M over 10 years. $12.5M, New Building $10.0M, IT infrastructure $30.0M, Total Taxes (Example Number) == $52.5M ININ's Cost - $1.8M /10 years, Tax Break (Building) - $0.75M /10 years, Tax Break (IT Infrastructure) - $8.6M /2 years, Tax Breaks (against Hiring Commitment: 430 new jobs /2 years) == 11.5M Possible tax breaks. ININ TOTAL COST: $41M Even if you assume a 100% break, change the '30.0M' to '11.5M' and you can see the Company will be paying a minimum of $22.5, out-of-pocket for their capital-investment - NOT the tax-payers. Also note, much of this money is being spent locally in Indiana and it is creating 430 jobs in your city. I admit I'm a little unclear which tax-breaks are allocated to exactly which expenses. Clearly this is all oversimplified but I think we have both made our points! :) Sorry for the long post.

  3. Clearly, there is a lack of a basic understanding of economics. It is not up to the company to decide what to pay its workers. If companies were able to decide how much to pay their workers then why wouldn't they pay everyone minimum wage? Why choose to pay $10 or $14 when they could pay $7? The answer is that companies DO NOT decide how much to pay workers. It is the market that dictates what a worker is worth and how much they should get paid. If Lowe's chooses to pay a call center worker $7 an hour it will not be able to hire anyone for the job, because all those people will work for someone else paying the market rate of $10-$14 an hour. This forces Lowes to pay its workers that much. Not because it wants to pay them that much out of the goodness of their heart, but because it has to pay them that much in order to stay competitive and attract good workers.

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  5. It is sad to see these races not have a full attendance. The Indy Car races are so much more exciting than Nascar. It seems to me the commenters here are still a little upset with Tony George from a move he made 20 years ago. It was his decision to make, not yours. He lost his position over it. But I believe the problem in all pro sports is the escalating price of admission. In todays economy, people have to pay much more for food and gas. The average fan cannot attend many events anymore. It's gotten priced out of most peoples budgets.

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