MSA Blog Posts

City Market proposals: Microbrewery, bicycle hub, agriculture showcase

January 18, 2010
Comments(26)
Six groups are vying to lead a redevelopment effort for the struggling Indianapolis City Market. Check out summaries of each of the proposals.
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New mayor, now what?

November 7, 2007
Comments(43)
Real estate developers today are trying to sort out the implications of a major upset in the mayor's race. The mayor-elect, Republican Greg Ballard (pictured), didn't reveal much about his philosophy on...
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Another delay for MSA

September 4, 2007
Comments(23)
Hopes for a quick decision on who will redevelop the Market Square Arena site are quickly fading. City officials had promised a decision by July at the latest, but the political climate...
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Open thread: What's happening?

August 9, 2007
Comments(37)
Your Friday gift: An open thread to discuss whatever real estate topics are on your minds. Fashion Mall? MSA? Penn Centre? The new BMW ad on this blog? We're classin' it...
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Hurry up and wait for MSA

July 6, 2007
Comments(12)
City officials gave developers a tight, two-month time frame to come up with a second round of proposals to redevelop the Market Square Arena site. The RFP was issued Feb. 21, and...
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Curious price estimates?

April 25, 2007
Comments(0)
A self-imposed MSA moratorium begins after this post. But I can't help but ask: How is it that the taller, more ambitious proposal for the Market Square Arena site costs $20 million less? The $130-million proposal for MSA calls for...
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Taxpayers' MSA price uncertain

April 24, 2007
Comment(1)
Neither of the teams hoping to redevelop the Market Square Arena site mention a specific figure for city incentive in documents filed with the city, but both say they need public money to make their projects work. In the $150-million...
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Office Space, anyone?

April 19, 2007
Comment(1)
There's plenty available. New numbers from Colliers Turley Martin Tucker show office vacancy rates all over the city rose in the first quarter of 2007. Downtown's vacancy rate took a beating again, rising...
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Your turn: MSA

April 18, 2007
Comments(16)
Only two teams are competing to redevelop the Market Square Arena site, fewer than many had expected. Both proposals call for mid-rise projects that would include retail and residential components. Check out the renderings and more details below. What does...
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Target proposed for MSA site

April 18, 2007
Comments(20)
A partnership of Hearthview Residential, Mansur Real Estate Services, Lauth and Venture Real Estate has proposed a complex including a 14-story tower along with a Target store, office space and condos for the...
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Kosene pitches towers

April 18, 2007
Comments(15)
A $130-million retail and residential complex with two towers on either side of Market Street is one of the proposals expected today for redevelopment of the Market Square Arena site. Proposals are due at noon.Chase...
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                           <h2><a href="/msas-big-day/PARAMS/post/1193">MSA
April 18, 2007
Comments(0)
Bids for redevelopment of the Market Square Arena site are due at noon today. Who will file? What will they propose? Share your thoughts here, and check ibj.com and this blog for updates all day.
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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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