Eroding home equity & BW3

August 6, 2008
Back to TopCommentsE-mailPrintBookmark and Share
Indianapolis home equityIndianapolis has won the dubious distinction of third place on a Forbes magazine list of the nation's "Most In-Debt Households". The magazine uses numbers from Moody's to establish which of the nation's top 200 cities have lost the most wealth to declining home equity. The average home equity in the Indianapolis area is about $24,470 or 26 percent in 2008, down since 2004, when the average was $42,320 or 42 percent. Full article.

Update: BW3 controversy
BW3 franchise owner Pete Watson met with city planning officials last week to discuss the restaurant's unapproved facade and promised to have his architect submit proposed changes, even as workers continued with the installation of signs and awnings. Senior Planner Jeff York said the city has sent an inspection team and will consider a stop-work order if the developers don't cooperate. He said the existing facade will not be approved. Watson said he was under the impression the city had approved the new look, which he said is part of the chain’s new standard “trade dress.� There could be a major hurdle for any changes: The restrooms sit against the front facade, meaning any major revamp could require interior changes as well. The Circles and Squares blog has more. Original post here.
  • The main thing we need to hope for now is that the city doesn't roll over and let them do some half-assed makeup job to adjust their design to something marginally acceptable.
  • WHO, in there right mind, puts Restrooms along the Front windows in a Downtown building. Who is this Phoenix school of Design Scholar?

    P.S. Love the picture on Circle and Squares, That Whole 1920's building on top of a DQ store rip-off look. I’m sending this picture straight to Historic Preservation Magazine.

    AS. “When designs go wrong” or “WHAT THE HELL WERE THEY THINKING”

    RESTROOMS!! Really? Hate to be this “Architect”.
  • I must admit that the facade is just horrible and they should throw the proverbial book at them for trying to rush this open. The idea of putting toilets at the front by the doors is idiotic and the city should lean on them as much as possible to change their design.
  • Hey! they were just trying to accommodate the panhandlers by putting the bathrooms up front. I think it was a brilliant idea. It also make for a good drug drop. I hope they put in lay in ceilings.
  • trade dress...can't someone kill this kind of crap before it ruin everything. Clearly that store front would be appropriate for Anywhere Stripmall, Anywhere, America, but right smack on Washington St. I mean this is the National Road. To put that crappy facade in they tore out huge storefront type windows that would have actually been appropriate. BW's should look to the Penn Station franchise just down the block for some pointers. Although, the architect for that building is a well regarded historic preservation and urban infill architect. Makes all the difference in the world doesn't it.
  • Yeah, Bob - I'm wondering if it's really an architect too. It hurts me to think a fellow professional would mess up so badly. Not that I'm perfect, I've screwed up plenty and taken the hit for it - but bathrooms at the street facade in a historic urban structure? That's 1st year stuff, the kind of design that gets aspiring students asked not to return to second year studio.
  • Pete's cheap. :)
  • Please indulge me in copying my post from Cory's previous posting about BW3:

    Why is the City indicating that they will issue a stop work order, IF NECESSARY? Isn’t it standard procedure to issue a stop work order when work is being done without obtaining permits and approvals? Why were they allowed to keep installing the stone pieces on the facade yesterday? It seems the more work they get done, the more likely they’ll get approval to keep it the way they want.
  • idyllic indy, its because the city has no balls. plain and simple.
    work must be stopped immediately. what a joke this city is to let this crap continue.
  • Wow. Circle and Squares has I believe the architect or the person that could be in charge of the facade. I say we all start emailing the company and say thanks for putting a huge ugle yellow building in our promising historic and mix of modern downtown! I probably will.
  • Not a single post about the Forbes report. Posters are more concerned with a
    building facade than this more serious problem. . . .third most in-debt
    city. . . .now that's something to complain about.
  • regarding the Forbes document - it all depends on how you define debt. I see equity as the opposite of debt. Maybe we're the third best city at financial leverage? Either way, it doesn't keep me up at nights. The downtown fiasco is more fun anyways.
  • The word on the street is that the owner has finally brought in an architect to clean up this mess. I wonder if the architect will use this as an opportunity to show off the before and after photos on his website.

    Who wants to bet that in the very near future, the owner's backyard landscaping will see the introduction of some very expensive engineered stone edging and accents.
  • So, If he is finally bringing in an architect, how did he get his design release from the state in the first place? Did he use an engineer for the design?
  • I almost missed what everyone was talking about, as my attention was diverted to the new Clown Building across the street.

    C'mon, how come noone is talking about this horrific, polka-dotted abortion that is across the street? I kept waiting for a Volkswagen to pull up, and have 50 clowns pour out, while honking bicycle horns.

    I am not an architect, but I know ugly. That said, I welcome Dunkin Donuts back to Indy. You have been gone way too long.

    I didn't think that the Buffalo place looked that bad. I guess the good news is that we are finally filling in store fronts that have been closed for years. I agree that downtown needs to maintain a level of standard, but by reading the comments here, there obviously is an element in our city that would prefer to sip their whine, and eat their cheese, and do all that they can to prevent new businesses from coming, all the while showing their contempt for the peasants that must share the same streets as them.

    Get off your high horses.

Post a comment to this blog

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
  1. I think the poster was being sarcastic and only posting or making fun of what is usually posted on here about anything being built in BR or d'town for that matter.

  2. Great news IRL fans: TURBO the IMS sanctioned movie about slugs running the Indy 500 has caught the Securities and Exchange Commission because Dreamworks had to take a $132MILLION write down...because the movie was such a flop. See, the Indy/IMS magic soiled another pair of drawers. Bwahahahahahaha! How's CARTOWN doing? HAHAHAHA...Indy is for losers.

  3. So disappointed in WIBC. This is the last straw to lose a good local morning program. I used to be able to rely on WIBC to give me good local information, news, weather and traffic on my 45 minute commute.Two incidents when I needed local, accurate information regarding severe weather were the first signs I could not now rely on WIBC. I work weekend 12 hour nights for a downtown hospital. This past winter when we had the worst snowfall in my 50 years of life, I came home on a Sunday morning, went to sleep (because I was to go back in Sunday night for another 12 hour shift), and woke up around 1 p.m. to a house with no electricity. I keep an old battery powered radio around and turned on WIBC to see what was going on with the winter storm and the roads and the power outage. Sigh. Only policital stuff. Not even a break in to update on the winter storm warning. The second weather incident occurred when I was driving home during a severe thunderstorm a few months ago. I had already gotten a call from my husband that a tornado warning was just southwest of where I had been. I turned to WIBC to find out what direction the storm was headed so I could figure out a route home, only to find Rush on the air, and again, no breaking away from this stupidity to give me information. Thank God for my phone, which gave me the warning that I was driving in an area where a tornado was seen. Thanks for nothing WIBC. Good luck to you, Steve! We need more of you and not the politics of hatred that WIBC wants to shove at us. Good thing I have Satellite radio.

  4. I read the retail roundup article and tried Burritos and Beers tonight. I'm glad I did, for the food was great. Fresh authentic Mexican food. Great seasoning on the carne asada. A must try!!! Thanks for sharing.

  5. John, unfortunately CTRWD wants to put the tank(s) right next to a nature preserve and at the southern entrance to Carmel off of Keystone. Not exactly the kind of message you want to send to residents and visitors (come see our tanks as you enter our city and we build stuff in nature preserves...