City selling Martindale land

August 1, 2007
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For SaleCity officials are seeking bids to redevelop 7.5 acres northeast of downtown in the Martindale neighborhood. The property is the old Ertel Manufacturing plant at 2045 Dr. Andrew J. Brown Ave. The minimum purchase price is $548,000, and the land is designated for industrial or commercial development. The city plans to foot the $1.4 million cost of demolishing the existing buildings. Bids are due Aug. 15. What else is going on in this neighborhood?
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  • This is great news! I not very familiar with this neighborhood, however, anytime I hear that people are trying to spruce up an existing neighborhood instead of spreading further out into the 'burbs it makes me happy.
  • The Martindale on the Monon residential re-development is happening along the Monon Trail from 16th up to 22nd St. That's just a few blocks west of Dr. Andrew J. Brown Ave.

    Just northeast of the site is the Keystone Enterprise Park, which was cleared and redeveloped over the past ten years or so.
  • I'm not sure what will work here. It'll be interesting to see what is proposed. I can't see anything but industrial working here - a retail or office project wouldn't work. I really don't think what this neighborhood needs is another industrial building (especially at this specific location), but at least the city is trying... I just don't agree with the approach.
  • This has been a long fought process by the Brownfields redevelopment team at the City of Indianapolis and they should be commended for their efforts to clean up a site dirtied by one of the worst polluters in the city.

    Let's just see if a development team can be as creative as the city with its plan for redevelopment!
  • I hope the city has given the community the plans on what is being planned for the area........and is the min. bid price somewhat high for this area?
  • Too bad the Brownfields redevelopment team at the City can't work on other important areas at the same time. When asked (at a B-fields summit some time ago) about its plans for the abandoned foundry and factory sites on the city's southwest side (Tibbs Avenue; Bridgeport Brass and Chrysler Foundry, etc.) they had no answer and seemed to be completely clueless about the area's challenges (some of which are ongoing with the old Reilly pollution and continuing environmental violations). What about the risks that threaten the Central State Hospital property? Underground tanks, unmarked human remains sites which don't warrant being given the respect that cemeteries are accorded? The same development team that is doing residential development of Martindale/Brightwood ala Fall Creek Place is doing the CSH deal.
  • The efforts in redeveloping Ertel are to be commended! I am a resident
    in the neighborhood and could not be happier about the recent demolition
    and clean-up of Ertel. The neighborhood can rest easier, that is for sure.
    Indy Observer, this is a big City with a number of sites that require a great deal
    of attention. It is unfortunate. However, take a look at
    http://www6.indygov.org/dmdplan/brownfields/contact.html. There is no
    Brownfields Redevelopment Team. Maybe I am reading it wrong but it looks
    like one person is running the show over there. Perhaps you should ask your
    Mayor why, in a city this size, we have dedicated only enough resources to staff
    one person to handle all the brownfields.

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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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