A local developer hopes to
convert the unfinished eight-story 707 E. North St. condo project into a mostly affordable apartment building with offices
on the top floor. The Whitsett Group has agreed to buy the building from Beilouny Luxury Properties, but the deal still must
be approved by Cincinnati-based Fifth Third Bank, which has launched foreclosure proceedings. The exterior of the building
is finished, but work on the interior stopped in late 2008. The Whitsett plan calls for 40 apartments on the third through
seventh floors, with 57-percent affordable and the rest at market rates. The top floor plan would house the company's headquarters,
along with community and exercise rooms for apartment tenants. For more on this story, pick up a copy of this weekend's IBJ.
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Welcome to Property Lines, Indy's source for neighborhood real estate news. Your host is Scott Olson, IBJ's real estate beat
reporter. Edited by Cory Schouten.
A local developer hopes to
convert the unfinished eight-story 707 E. North St. condo project into a mostly affordable apartment building with offices
on the top floor. The Whitsett Group has agreed to buy the building from Beilouny Luxury Properties, but the deal still must
be approved by Cincinnati-based Fifth Third Bank, which has launched foreclosure proceedings. The exterior of the building
is finished, but work on the interior stopped in late 2008. The Whitsett plan calls for 40 apartments on the third through
seventh floors, with 57-percent affordable and the rest at market rates. The top floor plan would house the company's headquarters,
along with community and exercise rooms for apartment tenants. For more on this story, pick up a copy of this weekend's IBJ.
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RKW's comments read like a modern "Chicken Little". As a Raintree resident for many years, "Yes, I'm ready for this." Matter of fact, I welcome The Farm because it's a development that compliments our town, brings new and desirable shopping & dining closer (specialty grocer, upscale shops, micro brew pub, etc), offers upscale condos for empty nesters who want to stay in Zionsville, is being planned and constructed by local, well-reputed firms and, of course, provides desirable non property tax benefits. We all knew the Pittman's were going to develop their property sooner than later. That one of the Pittman's will continue to live on the property helps assure The Farm will be everything promised. This also sets a standard for other developers as to the quality of future developments - which should keep an ugly Walmart at bay for decades. As we've no meglomaniac mayor, I seriously doubt Zionsville would ever aspire to over-priced statues or subsidized retail rents. And we already have a very nice public theater, the Zionsville Performing Arts Center, that meets our cultural needs quite nicely.
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Do we add (or subtract) these from the bounty we recieve from RTWFL, Daylight Savings Time, corporate tax giveaways, and the crack job IEDC is doing?? Or is Mike going to blame these on Mitch?
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Who makes Tater Tots? They would be a good sponsor, because $3 Million for the alleged "Greatest Spectacle In Racing" is taters. Tiny, tiny taters. But at least they are making up something of the losses accumulated over the years in this dying sport. Buttock in seat is certainly not doing it, nor eyeball on TV, as evidenced by the lack of both.
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We loved lakehouse and think the Arbor Village would be a great location. It is less than 2 miles from over 1000 rooftops in the 225,000 to over 1 million range. Many people could use the great fishers trail system to bike or walk there. Just an idea Scotty -- but maybe something closer to 3 Wiseman would good. The only microbrew in area is Ram (boring)
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True, it's an ESPN production, but ESPN is just another name for ABC Sports, or what used to be ABC Sports since ABC Sports no longer exists as a name. ESPN=ABC Sports= ESPN. ESPN is, according to Forbes "the world's most valuable media property" worth $40 billion. Despite that, they fired 400 people this week.
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The half-finished projects are potential steals for these companies. There is no more better example of Buy Low, Sell High than virtually stealing these properties during the market low finishing them out catered toward a more realistic market right as the real estate crunch turns around. Hope it goes through.
I hope you'll get a rendering of the Perkins VonDeylen building on Virginia Avenue as well.
Affordable is a vague term that can mean lots of things.