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IU research-to-market center plans move to Wishard

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A center that helps Indiana University researchers work with businesses to bring their discoveries to market is planning a move in Indianapolis.

The Indiana University Research and Technology Corp. wants to sell its existing Innovation Center building in downtown Indianapolis and move into the former Wishard Memorial Hospital on the edge of the IUPUI campus.

IU acquired the 26-acre Wishard property this year and is planning a $100 million renovation of the property.

Corporation officials proposed the move to university trustees Friday. They say the move will put the center closer to students and faculty.

No timetable for selling the existing building has been established.

University officials say the research center helped secure 35 patents and launch 16 faculty startup companies in 2013. The center has been housed in a 63,000-square-foot former furniture warehouse on 10th Street along the Central Canal since 2003.

Wishard Hospital closed Dec. 7 in conjunction with the opening of the nearby $754 million Eskenazi Hospital.

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  • Good timing
    This makes a lot of sense. That area of the canal is rapidly turning into a dense (for Indy) residential corridor, with construction of 9 on Canal, 800 North Capitol, and potentially the lot south of 9 on Canal. The IURTC lot is prime real estate, far too prime to have a 2-3 story building. I like having those jobs downtown, but the IUPUI campus is hardly far from downtown.

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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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