Indianapolis Blog Posts

@propertylines

June 27, 2009
Comments(4)
Want more frequent updates? You can now follow Property Lines on Twitter. Get the latest real estate nuggets at twitter.com/propertylines.
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Magazine touts Woodruff Place

June 24, 2009
Comments(13)
The magazine This Old House has named Indy's Woodruff Place as one of the country's 51 best places to buy an old home. The neighborhood...
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Bally Fitness locations to close

June 23, 2009
Comments(13)
Two local Bally Total Fitness locations will close today as part of the parent company's reorganization under Chapter 11 bankruptcy. Gyms along U.S. 31 in Greenwood and behind...
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Property Lines on Twitter

June 22, 2009
Comments(8)
Want more frequent updates? You can now follow Property Lines on Twitter. Get the latest real estate nuggets at twitter.com/propertylines
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Nora post office to close

June 19, 2009
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One of the city's busiest post office branches will close in the coming months to clear the way for a possible expansion of the Target...
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Masonic landmark turns 100

June 12, 2009
Comments(19)
Masonic groups this weekend will celebrate the 100th anniversary of the Indiana Freemasons' Hall, formerly the Indianapolis Masonic Temple, at 525 N. Illinois St. The...
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More on new Nora Kroger

June 10, 2009
Comments(40)
The Kroger-anchored development referenced below will add far more trees than it has removed, Sandor Development CEO Sid Eskenazi tells Property Lines. The project along the Monon Trail at...
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Group blasts Trail 'destruction'

June 10, 2009
Comments(44)
Construction work on a new Kroger-anchored development along the Monon Trail at 86th Street is drawing the ire of Nora neighborhood leaders. They're frustrated by the removal of trees and bushes along the trail by the project's developer, locally based...
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Just in: Project renderings

June 3, 2009
Comments(71)
Check out these conceptual renderings of a public-private downtown redevelopment project approved today by the Metropolitan Development Commission. The $65-million project calls for apartments and retail space adjacent to the former site of Market Square Arena. The renderings suggest the...
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$65M downtown development

June 2, 2009
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A proposed incentive deal to kick-start a $65-million development adjacent to the former site of Market Square Arena calls for the...
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Restaurant in a bit of a Pickle

June 1, 2009
Comments(17)
Indianapolis didn't exactly warm to Spicy Pickle. The Denver-based restaurant chain shut down both of its Indianapolis-area locations shortly after opening them last year. But the chain hasn't rid itself...
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Developer plans apartments at 707

May 23, 2009
Comments(19)
A local developer hopes to convert the unfinished eight-story 707 E. North St. condo project into a mostly affordable apartment building...
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Sad news out of Madison

May 21, 2009
Comments(6)
The 154-year-old Jefferson County Courthouse caught fire last night, and the damage looks serious. Workers were finishing up renovations in preparation for Madison's bicentennial next month. You can follow Twitter updates from the Madison Courier here. The...
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Kroger eyes Altum parcel

May 19, 2009
Comments(20)
Kroger is looking at land in Zionsville for a new store. The Cincinnati-based grocer is in talks with the owners of Altum's Garden Center along Michigan Road between 106th and 116th Streets,...
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Owner has gourmet vision for Za

May 15, 2009
Comments(24)
The proprietor of a planned new pizza joint called Za in Broad Ripple, Michael Keenan, says he has enlisted an all-star...
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Around town pizza roundup

May 14, 2009
Comments(27)
Couple of pizza-related nuggets: A new pizza restaurant called ZA is planned for the former Slinky women's clothing store near 62nd Street and College Avenue in Broad Ripple. Plans call for the restaurant...
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What to do with the old airport

May 11, 2009
Comments(35)
A group of eighth grade girls from a local charter school spent all day Friday learning about real estate and developing plans for reuse of...
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Looking for a waterfront condo?

May 7, 2009
Comments(8)
An auction has been set to sell nine remaining waterfront condos in a bank-owned development on Morse Lake in Cicero. The project, One Waterfront Plaza,...
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Indy named best for recent grads

May 6, 2009
Comments(11)
Some good news from an Apartments.com and CBCampus.com survey: Indianapolis has been named the top city for recent college graduates. The study looked for cities with the highest concentration of young adults,...
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Up and away at Conner Prairie

May 5, 2009
Comments(10)
Looks like the folks at Conner Prairie in Fishers have beat White River State Park to the hot-air-balloon-ride punch. They plan to unveil...
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Windows join endangered list

May 4, 2009
Comments(24)
The Historic Landmarks Foundation of Indiana has added four new structures and an architectural feature to its annual list of the 10 Most Endangered Hoosier landmarks. Additions...
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Bait shop bids farewell

May 1, 2009
Comments(9)
Barbara Hoffman plans to close her bait shop along Fall Creek Parkway after 42 years in business. She has agreed to...
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Parcel near LOS lingers on market

April 29, 2009
Comments(31)
Have property values around Lucas Oil Stadium risen as fast as the profit expectations of the owners? Perhaps not, at least if you consider the Cambridge Transmission...
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Fort Ben reuse marches on

April 21, 2009
Comments(13)
The Fort Harrison Reuse Authority is preparing to break ground on a massive infrastructure project that will lay the groundwork for the master-planned Lawrence...
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Conservancy work begins & more

April 17, 2009
Comments(49)
The Nature Conservancy broke ground Thursday for its new Indiana headquarters. The organization still needs to raise most of the $4.4 million cost of the building, but...
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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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