IBJOpinion

City Market should build on immigrant roots

July 3, 2010
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IBJ Letters To The Editor

[In response to the June 14 editorial] The ambitious $4 million plan for a brighter, more compact market as a magnet for more customers is certainly exciting, but alas, it would still be a stand-alone venue! I would like to suggest that the 124-year-old landmark serve as an anchor for a broader vision of the near-east side.

Taking a page from the immigrant history of the market, why not create an international town around it? Indy has ethnic groups galore, so why not harness this diversity? The west quadrant is being demolished—why not replace it with a structure housing The International Center and a performing center for plays, shows and exhibition area for our diverse groups? The International Festival and parade could be held on the area. There are already ethnic restaurants along Delaware Street. Retail stores selling jewelry and clothing could be added both in the market and in storefronts.

As pointed out so importantly in your piece, the long-neglected Market Square [Arena] site is just around the corner. And wouldn’t a developer find the site more attractive if a new neighborhood would spring around it? Use might also be found for the old City Hall—another historic gem—which sits forlornly in the same area just waiting for rebirth!
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Georgia Buchanan


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  1. The lack of street-level retail in this part of the Block 400 development is a huge oversight and somewhat perplexing given the high quality of recent city-backed developments downtown. This portion of an otherwise stellar development is going to have an extremely negative impact on the aesthetics, urban environment, walkability, and livability of the NW quad.

    I'm not sure why One America would oppose including retail. And I find it very hard to believe that the thousands of office workers literally footsteps away wouldn't be able to support new lunchtime destinations and other businesses along Illinois and Vermont. We've got to reconnect the disjointed segments of our blossoming downtown, not create yet another lifeless dead zone that no one wants to walk through. Sadly, that is exactly what this massive ugly single-use structure will accomplish.

    Why not follow the precedent set by the proposed garage in Broad Ripple and create an attractive mixed-use structure? Why does the city get it there but not downtown?

  2. Bear mind that DS is just not another lazy, rich kid. He attended Columbia grad school and was in investment banking for 4 or 5 years before joining his dad's company. An annual grant of stock options at market price would be the correct pay-for-performance program then no one could argue with it.

  3. This comes from an executive who gave his wife a Bentley as a wedding present. He is heir to billions of dollars. He should be working for a dollar a year and stock options only. Seems like a conflict of interest, time to bring in a non-relative as CEO. Haven't met him, but have heard his arrogance is legendary.

  4. If the property is improved, property taxes increase - more revenue. If AUL's employment grows, more income taxes - more revenue. If more people move and/or work downtown, it means more demand for goods and services, more employment, more taxes - more revenue, etc., etc. It's not just the city throwing money at big companies. There's much, much more. Yes, the project has private backing, but apparently not enough to make the deal work and therefore they don't have it covered. And while Marsh is a nice anchor, they are no credit tenant like a Kroger or somebody. And if the police department has a major shortfall, they need to reduce the force. This city has way too many policemen.

  5. It's hard to defend billionaires, but David Simon has created a tremendous amount of value for shareholders since joining the company. He is widely regarded as one of the best CEOs in America. The company is growing and making good strategic decisions. And Indy is fortunate to have SPG HQ'd here. Now, does that merit $120 million (about 15 mil over 8 years or so)? Maybe. But this family and David have truly built a business. Should Zuckerberg be worth $20 bil? Who knows. Hopefully David will be supportive of Hoosier charities like his family has.

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