IBJNews

Fourth Artsgarden skywalk gets approval

Back to TopCommentsE-mailPrintBookmark and Share

Members of the Metropolitan Development Commission Wednesday afternoon unanimously approved providing $600,000 in city funds to help build an enclosed pedestrian walkway connecting the downtown PNC Center with the Indianapolis Artsgarden.

The $1.2 million project would be half-financed by the Greater Indianapolis Bond Bank by using tax increment financing from the downtown district. Wednesday's approval was the final one needed for the project.

The building’s property manager, Reit Management & Research LLC, based in Massachusetts, intends to start construction early next year and finish by mid-2011.

Commission members supported the funding, despite objections from several opponents who spoke against using taxpayer money to support “wealthy corporations.”

The 16-story PNC Center, previously known as National City Center and Merchants Plaza, houses the Hyatt Regency Indianapolis, the city’s fourth-largest hotel based on number of rooms.

The Hyatt, along with other city hotels, has been targeted by a union group called Central Indiana Jobs with Justice, which is pressuring the hotels to improve their pay scales. About a dozen supporters of the group, armed with signs bearing such slogans as “Vote No on Ballard’s Bridge to Nowhere,” attended the MDC meeting.

City-County Councilor Brian Mahern also opposes the walkway and spoke out against the project.  

“I’m most certainly disappointed, but frankly, I’m not surprised,” Mahern, a Democrat, said. “This is what the appointed, and non-elected, MDC has done time and again.”

But David Buchanan, the REIT Management executive who oversees the PNC Center, said the walkway, as part of the Artsgarden, will be owned by the Arts Council of Indianapolis Inc.  
 
The PNC Center, which includes nearly 625,000 square feet of rentable office space, is owed by HRPT Properties Trust of Boston, which bought the building in 2005.
 
“The real issue here is the fourth connector anchor was never connected,” Buchanan said. “It’s an important piece for the city.”

Connecting all four corners of the Washington and Illinois streets intersection was the original plan when the Artsgarden was designed more than 15 years ago. No one currently associated with the project knows why the fourth connector has never been added.

The Artsgarden opened in September 1995, connecting Circle Centre mall on the southeast corner of the intersection with Claypool Court on the northwest corner.

Attention after the mall opened focused on attracting a retailer to open on the northeast corner of the intersection, where the Conrad Hotel now stands. When the hotel opened in 2006, it was connected to the Artsgarden.

Opponents at Wednesday's meeting argued that the money should be used to support public transportation or the city’s libraries, which are cutting hours due to a budget shortfall.

But Deron Kintner, executive director of the bond bank, reminded them that the TIF funds need to remain within the district and cannot be released into the city’s General Fund.
 

ADVERTISEMENT

  • confusion
    Article is not very clear, but i think the 1/2 city funds is using the bond bank to finance the city 1/2. Then i assume the PNC center owners are paying the other 1/2.
  • Same pinheads.....
    The same pinheads that approved this wasteful use of $600K must have approved the $1 m grant (taxpayer expense) to plant some stupid trees and shrubs on I-70. Lilly, give the $1 M back!
  • Half-paid for
    Let's note that the article states that the project will be half-financed by the Indy Bond Bank, $600K. The other half is assumed to be financed by the owner, which is probably why they are planning the construction.
    Looking at the big picture, $600K is probably not a lot of money considering that it would complete that corner visually and matches with the goals of the city in attracting conventions and other organizations that like the idea of having the city connected internally.
  • Gamble Paid Off
    @Reader, thanks for the reminder of why the fourth walkway never got constructed. Looks like the owner of that building's gamble paid off. They wait it out, then let the city pick up the whole tab.
  • About time!
    The ArtsGarden, one of the most unique features of our downtown, has always looked "incomplete" without the 4th connector. It's about darn time someone finally realized that this NEEDED to be done. Wise use of TIF funds!
  • Re: Wise use of TIF
    Reader,
    Do you have documentation on why the walkway was not built? I'm very interested in knowing the details of this.
  • Can I get the Pot holes filled in my neighborhood please??
    WOW, Kintner makes a great revelation...Can we create a TIF in my neighborhood so we can keep all our own money and just simply spend it in our neighborhood. Here Vaughn and Ballard Mafioso go again PICKING the winners.

    Mayor Marine can you come out to the suburbs and look at our crumbling streets?

    We need City government to focus once again on basic services. This pie in the sky stuff is over the top. This is a ponzi scheme on the taxpayers.

    Wake up Indianapolis.... We need new leadership as we have none.
  • Wise use of TIF
    The reason the enclosed walkway was not completed 15 years ago is because the owner of the Hyatt/PNC building refused to pay for half the construction costs.

    Post a comment to this story

    COMMENTS POLICY
    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
    ADVERTISEMENT

    facebook - twitter on Facebook & Twitter

    Follow on TwitterFollow IBJ on Facebook:
    Follow on TwitterFollow IBJ's Tweets on these topics:
     
    Subscribe to IBJ
    ADVERTISEMENT