News of Indy's successful bid for the 2012 Super Bowl
spread quickly among Hoosiers here in Las Vegas. Already, the selection has become a part of sales pitches for new central
Indiana developments. But will it provide enough of a boost to compel some of the city's most aggressive development proposals
such as Penn Centre and SoDo? Brokers expect the big game will add to the city's momentum, but it won't fundamentally change
the market, lead to a rush of new projects or do much to calm a rocky economy. But it could create some urgency for new restaurants,
hotels and retailers to open for business by 2012. Ralston Square, a mixed-use development slated for the northeast corner
of Meridian and South streets, is slated to be open in time for the Final Four in 2010, said Brian Epstein, the lead developer.
The project should be well established by 2012. "Certainly the cachet of being able to host the event will be great for downtown,"
Epstein said. "It’s another big event we can put on our calendar."
UPDATE: Legends District SoDo is on track to be finished in time for the 2012 Super Bowl, developer Ryan
Zickler said today. He said he's been talking with the city about incentives and with performing arts groups about a theater.
Zickler believes the big game will help him sell the concept.
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I don't see lenders making loan commitments based on one football game, but for projects that are already funded and in the pipe, this is an incentive to get done by 2012.
The big thing might be providing an impetus to redo many of the downtown streets. Replace/widen sidewalks, add bike lanes, landscaping, etc. Most importantly, use the Warehouse District stoplight arms and street light designs. Imagine the entire Mile Square (and eventually the entire city if it takes my recommendation to standardize on those designs) like that, and see the powerful visual design/branding signature it could leave for the city in people's minds.
This reminds me of a friend I had some time ago. He would always mow his front lawn but not his back yard. When asked why. He would answer. You can’t see the back yard from the street. Who cares what the back yard looks like.
(ONLY THE PEOPLE THAT CAN SEE YOUR BACK YARD)
Sigh.
I agree with the Urbanophile, it would be extremely prudent to standardize the designs of downtown fixtures and improve the pedestrian experience downtown prior to 2012. The Indianapolis MPO has been working on a multi-modal transportation plan for downtown that would make an excellent starting point.
I hope you are right CoryW, and I will one-up your prediction! I bet that securing the 2012 Super Bowl has put wind in the sail of the newly formed Downtown Indianapolis Streetcar Corp. and we will not only see a train running to the airport, but streetcars running in downtown Indianapolis streets once again by 2012!
One can dream, can't he? :-)
Wah, wah , wah, wah, wah!
Years ago, Indy forgot all about the core of the city. Now that it has been restored and continually improved, things will always work out from there. That is the only way. You should see this by now.
I don't know exactly what the $25 million of private money that has been raised thus far to support Indy's Super Bowl bid is going to pay for, but hopefully it and/or more private money can be raised to pay for the frilly downtown improvements. Are Bart's welcome to the City signs still up? How did they read? Building a World Class City: Neighborhood by Neighborhood? ...One Neighborhood at a Time? I can't remember exactly, but I'm sure it didn't say ...by Placing all your proverbial eggs in the downtown basket.
Also, while I completely agree with and admire Urbanophile's desire to see a respectable urban design scheme for downtown, I think the biggest hindrance for the downtown pedestrian experience is all the empty storefronts. How can we address *that* issue ebfor the Super Bowl?
I have to ask, what downtown have you been walking in that contains all of these empty storefronts that you speak of? It certainly isn't downtown Indianapolis, at least not within the core/Mile Square. Indy is actually well ahead of the curve on this one. Yes, there is space to lease downtown (just like in EVERY CBD) but Indy's downtown market continues to thrive and new restaurants etc are opening every month. Further, unlike many downtowns (Cincy & Louisvillec ome to mind) the space above the ground floor retail is also taken. Take Meridian Street for example. Just a few years ago, there may have been restaurants, shops, or bars on the ground floor, but the upper floors were boarded up and empty. NOW, condos, hotels, apartments and offices fill nearly EVERY building from the Circle south the Union Station. This is great for our CBD and it is only getting better.
The whole downtown scheme is nothing more than a pyramid/ponzi scheme that unfortunately may never end since tax dollars can continuously be siphoned away from the schools and other municipal obligations through the use of TIFs and abatements.
So, we got suckered into throwing the NFL's party for them. Many city employees who should otherwise be engaged in other activities will basically be party planners. Since everyone seems to believe that party planning should be a primary objective of the city, I wish the city would just make it official and create the Division of Party and Event Planning in DMD. Obviously, all of these important events are the lifeblood of the city, so we need to get serious about it and stop half-a**ing it.
By the way, the reason that nothing is getting built at MSA is because there is no real demand for that type of project, particularly not at the unaffordable prices proposed.
Schools and other municipal corporations don't lose anything to downtown TIFs: their costs don't increase because the new downtown developments don't require new schools or buslines or libraries to serve them, and they still get whatever tax revenue they got from a site before it was developed.
Most importantly the new developments generate jobs and spending. Wage, sales (and in the case of the JWMarriott, hotel) taxes accrue to the city and state as a result of new economic activity on the site.
There is one simple law of economics in play here: more economic activty is better for a city. Especially for Center Township and for those of us who live here. The rising tide of development lifts the near-downtown neighborhoods and makes our properties more valuable.
You can explain TIF's to misinformed people until the cows come home, unfortunately, they refuse to listen/understand. To the naysayers, it's tax money and that is all they can wrap their little heads around.