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City Market upgrades on track for June completion

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Renovations at the downtown Indianapolis City Market are fully under way after their start was delayed last fall.

The city announced the renovations last summer. The market’s east wing will be turned into a hub where bicyclists can store bikes and shower in an $800,000 project, and the main hall will be upgraded with new lighting, rest rooms and vendor stands.

Bids for the main hall came in about $700,000 over the $2.7 million estimate, and the project started a few months later than the announced early-fall date.

Now, though, both the main-hall and east-wing projects are on track to be completed by mid to late June, market leaders said.

Meanwhile, another new tenant, Market Street Produce, will move in early next month.

The city also is continuing to look for additional funds to pay for the $500,000 demolition of the market’s west wing, a project that was delayed to compensate for the main hall bids coming in over budget. Until money is found for that project, it’s unclear when the demolition will take place.

Molly Deuberry, a spokeswoman for the city’s Department of Public Works, said the city has examined using funds from the sale of its water and sewer utilities, which is pending approval by the Indiana Utility Regulatory Commission.

“The city still intends to identify a funding source in order to finish that project,” Deuberry said. “Right now, that’s the only one that has been discussed.”
 


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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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