Recent Blog Posts

Developers pitch Meridian Street infill

October 1, 2007
Comments(16)
Two local developers have plans to replace downtown parking lots along Meridian Street with new mixed-use buildings. Jupiter Land Group, headed by restaurateur Rick Coombes, wants to build a five-story retail...
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IPS pledge: Fence is temporary

September 28, 2007
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The second- and third-floor parking levels of the Indianapolis Public Schools headquarters will remain surrounded on three sides by a chain-link fence at least until the spring, a school district official said today....
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Fountain Square's artistic alleys

September 27, 2007
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Earlier this year, real estate agent and Fountain Square resident Phil Barcio began the Fountain Square Mural Project, an effort to transform the neighborhood's alleys to help prevent crime and...
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No more Nothing But Noodles

September 26, 2007
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Arizona-based Nothing But Noodles has closed its local stores on 96th Street and near the IUPUI campus. No one answered the phone at either of the stores or at the Indianapolis corporate...
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Taco battle is brewing

September 25, 2007
Comments(31)
Look out, Taco Bell. California-based Del Taco, the country's No. 2 taco chain, is planning to open 16 new restaurants in Indianapolis. The chain, which already has about 500 restaurants in 14...
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New airport taking shape

September 25, 2007
Comments(35)
The new Indianapolis airport has been in the news lately (thanks to plans for special foot basins for Muslim taxi drivers). We haven't yet discussed the airport, so here's your chance. The...
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Foot Locker taking Flagstar space

September 24, 2007
Comments(19)
Foot Locker has filed plans to open a 3,300-square-foot store at the corner of Meridian and Washington streets downtown. The space currently is home to Flagstar Bank, which plans to move to...
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Venu taking 'green' to new level

September 21, 2007
Comments(38)
Check out this new rendering of Venu from locally based Premier Properties USA Inc. The company plans to build the 2.3-million square foot project at the southwest corner of 86th and Keystone....
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WFYI's new headquarters

September 20, 2007
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WFYI plans to break ground this morning on an expansion of its new headquarters building. The public broadcaster is moving into the former Vectren Building at 1630 N. Meridian St. WFYI will...
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Restaurant rumblings: Brazilian

September 19, 2007
Comments(14)
At least two more Brazilian steakhouse concepts are looking to open new restaurants in Indianapolis, brokers say. The first to debut locally, Brazilian Grill, opened a few months ago at 86th Street...
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Mass Ave building for sale

September 19, 2007
Comments(14)
The Massala Building on Massachusetts Avenue has been listed for sale. The 36,000-square-foot building is home to MacNivens Restaurant & Bar and is next door to the site of 3 Mass, a...
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Nightclub eyes Union Station

September 18, 2007
Comments(30)
The city has reached a preliminary agreement to lease 12,600 square feet in the basement of Union Station for a new restaurant and nightclub. The lease is with The Arantee Group, one...
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Bush Stadium's uncertain future

September 17, 2007
Comments(31)
What should be done with Beautiful Bush Stadium? The city has ordered appraisals of the historic ballpark as a first step toward eventual reuse or demolition. The Indianapolis Indians played in the...
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An English Avenue opportunity?

September 14, 2007
Comments(16)
A not-for-profit neighborhood revitalization group has slashed the prices on three remodeled live/work buildings at English and State avenues. The brick buildings near Fountain Square have undergone various levels of renovation by...
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Post-fire restoration underway

September 13, 2007
Comments(18)
In the discussion about Jaron Garrett's plans for Washington and Pennsylvania streets, someone asked about 38 E. Washington St. The building burned earlier this year, and now is being...
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Updated Gibson Building unveiled

September 12, 2007
Comments(14)
Mayor Bart Peterson and OneAmerica executives cut the ribbon on the renovated Gibson Building this morning. Work on the 1916 building (originally a car manufacturing facility) began in April 2006 and cost...
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What ever happened?

September 11, 2007
Comments(18)
Following up on a few old posts: No Canterbury Sale Yet. Canterbury Hotel owner Donald Fortunato said he's getting close to a sale of the 12-story hotel, but the deal is not done....
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Tower getting a new sign

September 11, 2007
Comments(8)
Don't be alarmed to see workers removing the massive OneAmerica sign from atop the 38-story OneAmerica Tower in the next few days. The company plans to replace the sign with one...
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Young developer, towering dream

September 10, 2007
Comments(40)
The odds are long, but Jaron Garrett isn't giving up on an ambitious plan to replace several blighted buildings along Washington Street with a twisting glass-and-steel apartment tower. The 25-story project...
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Better know a developer: Lauth

September 7, 2007
Comments(14)
Locally based Lauth had a big week. They announced plans for a 7.1-million-square-foot distribution park on 555 acres at Interstate 70 and State Road 39 near Plainfield. But lately the company...
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Dome demolition: Implode or no?

September 6, 2007
Comments(10)
In the spirit of today's Colts festivities, there's an update this week on the new stadium and discussions about the old one. In a progress report, the Indiana Stadium and Convention Building...
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Lockerbie Park phase 2 on hold

September 5, 2007
Comments(48)
The foundations and garage slabs are in place for the next phase of Lockerbie Park, but construction is on hold for now. The project at College and Michigan streets has not sold...
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Farewell, mediocre pizza buffet

September 4, 2007
Comments(19)
At the top of a lunch-time retail roundup: Downtown's Bearno's Pizza has closed and will be replaced by Flagstar Bank. A sign on the door says to look for Bearno's elsewhere in...
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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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New library almost ready

August 30, 2007
Comments(28)
It's been quite an ordeal, but the Central Library expansion is almost complete. The Interim Central Library, which opened in Old City Hall after construction began on the expanded...
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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