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2013 Forty Under 40: Andrew Held

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“It’ll be in the arts, from continuing involvement with Penrod to, hopefully down the road, getting involved with another arts organization.”

Age: 36

President, PCD Capital Group LLC


Andrew Held had an impressive law career going—as an Indiana University-Bloomington law student, he clerked for federal Judge Sarah Evans Barker and Indiana Court of Appeals Judge Margret Robb before joining Hackman Hulett & Cracraft LLP and then Bose McKinney & Evans LLP in its Real Estate Group.

“I practiced almost five years,” the Indianapolis native and North Central High School graduate said, “and it almost seemed like it was a better fit to be on the business side. Law is a great career, and it’s a tremendous background, particularly on the real estate business side of things.”

So he went to work for School Craft Development LLC developing shopping centers and, to learn more about finance, went back to school at Butler University for his MBA.

In August 2008, Held and several partners started Pedcor Commercial Development LLC. With the economy tanking, the timing, seemingly, couldn’t have been worse. But PCD hadn’t established a niche, so rather than development, it decided to buy assets to seed the company. Most of that occurred in Southern California, where Held spent a lot of time picking up five projects from people or banks looking to unload their holdings. (He still managed to continue his longtime work with the Penrod Arts Fair and be home with his wife and their three children.)

PCD was able to buy around $100 million of assets by the end of 2011, Held said. And as the real estate market normalized, Held and company have shifted their focus back to Indiana. They’re buying the Echo Ridge Apartments on the east side of Indianapolis and have two projects in Muncie.

“To me,” Held said, “it’s all about shifting your focus and recognizing opportunities as they present themselves. We were able to do that. We’re a small group, so we’re able to be pretty nimble.”•

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  1. 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...

  2. 85 feet for an ambitious project? I could shoot ej*culate farther than that.

  3. I tried, can't take it anymore. Untill Katz is replaced I can't listen anymore.

  4. Perhaps, but they've had a very active program to reduce rainwater/sump pump inflows for a number of years. But you are correct that controlling these peak flows will require spending more money - surge tanks, lines or removing storm water inflow at the source.

  5. All sewage goes to the Carmel treatment plant on the White River at 96th St. Rainfall should not affect sewage flows, but somehow it does - and the increased rate is more than the plant can handle a few times each year. One big source is typically homeowners who have their sump pumps connect into the sanitary sewer line rather than to the storm sewer line or yard. So we (Carmel and Clay Twp) need someway to hold the excess flow for a few days until the plant can process this material. Carmel wants the surge tank located at the treatment plant but than means an expensive underground line has to be installed through residential areas while CTRWD wants the surge tank located further 'upstream' from the treatment plant which costs less. Either solution works from an environmental control perspective. The less expensive solution means some people would likely have an unsightly tank near them. Carmel wants the more expensive solution - surprise!

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