IBJNews

Browning exec Dye joining The Whitsett Group

Back to TopCommentsE-mailPrintBookmark and Share

A top executive of Browning Investments Inc. is leaving the locally based developer and jumping to The Whitsett Group LLC.

Dennis Dye, 49, told IBJ that by the end of the month he will join Whitsett, a prolific developer of affordable housing projects, as a partner.

“There is no acrimony here at all,” Dye said of his decision to leave Browning. “This is simply me wanting to be a partner.”

Dye currently is an executive vice president of Browning, where he is responsible for mortgage financing, building development and negotiations to buy and sell property.

His decision to join The Whitsett Group stems partly from his longtime friendship with Joe Whitsett, who founded the company in 2007. The two shared an office while working at Ernst & Whinney, the predecessor to the Ernst & Young accounting firm, in the 1980s.

"I've always had a great deal of respect for Dennis," Whitsett said. "We just see this as a great opportunity for the company to grow and bring on some expertise at a very high level."

Dye is a certified public accountant who earned an MBA from Indiana University.

While at the accounting firm, Dye took on Browning as a client, which ultimately led him to join the developer.

Browning’s portfolio includes primarily industrial and office projects. But the firm is beginning to tackle more mixed-use developments containing multi-family housing.

It has proposed a $17 million mixed-use development in Broad Ripple featuring 60 to 70 apartments and 35,000 square feet of commercial space. The project is slated for a 1.9-acre site on the northeast corner of College Avenue and the Central Canal.

Browning Investments is partnering with The Whitsett Group on a proposal to redevelop a portion of the former Market Square Arena site. It's one of six proposals the city is evaluating for the vacant site.

Much of Whitsett's focus is downtown. IBJ reported in April that the developer has proposed buying The Indianapolis Star's headquarters on North Pennsylvania Street and redeveloping it for housing. A non-disclosure agreement prohibits the company from revealing its plans for the structure.

It's that sort of project that attracted Dye to Whitsett.

“I like the urban redevelopment-type projects,” Dye said. “I find those very interesting; you can be more creative.”

Other Whitsett projects involving the rehab of older buildings include 1010 Central Apartments, 333 Penn Apartments and 800 North Capital.

Dye has served two stints at Browning. He first joined in 1988 as a financial analyst but left to help form Camile Products, a software firm, where he helped raise capital to finance marketing and product development.

He led Camile through its sale to Argonaut Technologies, a publicly traded company based in Foster City, Calif., before rejoining Browning in 2002.

At The Whitsett Group, Dye will join Joe Whitsett and his stepchildren, Tony Knoble and Anna Knoble, as principals.


 

ADVERTISEMENT

  • Good Lord
    Joe Whitsett is one of the few developers who targets adaptive reuse to create *mixed-income* housing opportunities downtown and in near-downtown neighborhoods. They also increasingly do market rate projects. Now that Whitsett is paying closer attention to design, I am becoming a bigger fan of their work. Kudos to Joe. And I'm tired of hearing whining about affordable housing from people who have no idea what "affordable housing" means or the spectrum of folks it serves. Ugh.
  • Whitsett . . . ugh
    Hey Whitsett, stop trying to put low-income developments in the Mass Ave area. I'm frightened by how much ability you have to stunt the development of a fun, upscale area.

    Post a comment to this story

    COMMENTS POLICY
    We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
     
    You are legally responsible for what you post and your anonymity is not guaranteed.
     
    Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
     
    No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
     
    We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
     

    Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

    Sponsored by
    ADVERTISEMENT

    facebook - twitter on Facebook & Twitter

    Follow on TwitterFollow IBJ on Facebook:
    Follow on TwitterFollow IBJ's Tweets on these topics:
     
    Subscribe to IBJ
    1. Why not take some time to do some research before traveling to that Indiana town or city, and find the ones that are no smoking either inside, or have a patio? People like yourself are just being selfish, and unnecessarily trying to take away all indoor venues that smokers can enjoy themselves at. Last time I checked, it is still a free country, and businesses do respond to market pressure and will ban smoking, if there's enough demand by customers for it(i.e. Linebacker Lounge in South Bend, and Rack and Helen's in New Haven, IN, outside of Fort Wayne). Indiana law already unnecessarily forced restaurants with a bar area to be no smoking, so why not support those restaurants that were forced to ban smoking against their will? Also, I'm always surprised at the number of bars that chose to ban smoking on their own, in non-ban parts of Indiana I'll sometimes travel into. Whiting, IN(just southeast of Chicago) has at least a few bars that went no smoking on their own accord, and despite no selfish government ban forcing those bars to make that move against their will! I'd much rather have a balance of both smoking and non-smoking bars, rather than a complete bar smoking ban that'll only force more bars to close their doors. And besides IMO, there are much worser things to worry about, than cigarette smoke inside a bar. If you feel a bar is too smoky, then simply walk out and take your business to a different bar!

    2. As other states are realizing the harm in jailing offenders of marijuana...Indiana steps backwards into the script of Reefer Madness. Well...you guys voted for your Gov...up to you to vote him out. Signed, Citizen of Florida...the next state to have medical marijuana.

    3. It's empowering for this niche community to know that they have an advocate on their side in case things go awry. http://www.youtube.com/watch?v=Lrst9VXVKfE

    4. Apparently the settlement over Angie's List "bundling" charges hasn't stopped the practice! My membership is up for renewal, and I'm on my third email trying to get a "basic" membership rather than the "bundled" version they're trying to charge me for. Frustrating!!

    5. Well....as a vendor to both of these builders I guess I have the right to comment. Davis closed his doors with integrity.He paid me every penny he owed me. Estridge,STILL owes me thousands and thousands of dollars. The last few years of my life have been spent working 2 jobs, paying off the suppliers I used to work on Estridge jobs and just struggling to survive. Shame on you Paul...and shame on you IBJ! Maybe you should have contacted the hundreds of vendors that Paul stiffed. I'm sure your "rises from the ashes" spin on reporting would have contained true stories of real people who have struggled to find work and pay of their debts (something that Paul didn't even attempt to do).

    ADVERTISEMENT