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Development/Redevelopment
Developer betting on cottage homes
September 1, 2008
Cory SchoutenBuyers in Seattle, Milwaukee and even Bloomington have snapped up new cottage homes in developments that turn the McMansion trend on its dormer-decorated head. But will Indianapolis buyers have a similar appetite for the tiny energy-efficient homes clustered around community greens? A local developer is betting they will.
IUPUI faces tough decisions over aging sports facilities
August 18, 2008
Anthony SchoettleIUPUI is grappling with how to pay for upkeep and improvements necessary to keep its three world-class athletic facilities—and
the city—in the hunt for high-profile sporting events.
MoreSports Corp. made city a sports giant, but real estate plans fell short
July 14, 2008
Cory SchoutenConstruction of Pan Am Plaza in the mid-1980s was a major step in the evolution of Indianapolis into a sports town worthy
of hosting a Super Bowl. But the office building, parking garage, skating rinks and public gathering place came up short over
the years in other ways for both taxpayers and developer, the Indiana Sports Corp.
MoreRalston Square development lures bar, hotel, bowling alley
July 7, 2008
Cory SchoutenA trendy bar and an upscale hotel have agreed to anchor the 11-story Ralston Square project slated for South Street between
Meridian and Pennsylvania streets. The developers of the $60 million mixed-use project are moving forward after landing the
tenants necessary to secure a loan commitment, said Brian Epstein, president of locally based Urban Space Commercial Properties
and a partner on the project.
MoreGroup plots public-private revival for midtown Meridian neighborhoods
June 30, 2008
Cory SchoutenThere was a time when residents of Meridian Kessler, Butler Tarkington, and Broad Ripple viewed North Meridian Street as a
connection between their neighborhoods. These days, the road feels more like a divide-an intimidating commuter highway between
downtown and the northern suburbs that discourages pedestrian and bicycle traffic. A partnership of community groups including
the Meridian Street Foundation is hoping to change that by giving the neighborhoods a collective identity--Midtown--and mixing
private and public money to fund major infrastructure improvements.
MoreBusiness leaders battle over real estate left behind by Payton Wells
June 9, 2008
Cory SchoutenThe Malibus and Impalas disappeared from Payton Wells Chevrolet more than 18 months ago, but the controversy over the defunct
dealership at 1510 N. Meridian St. is far from being in the rearview mirror for some of the city's top businesspeople and
developers. A court battle over the dealership's properties could determine when and how the roughly six acres of prime land
are redeveloped.
MoreDevelopers vie for property by Central Library
June 9, 2008
Chip CutterTwo high-profile property developers are squaring off for the rights to transform a six-story apartment complex adjacent to
the Central Library downtown. Van Rooy Properties and Buckingham Cos. both submitted proposals to redevelop the Ambassador
apartments at 39 E. Ninth St., just north of the library.
MoreRenovated Central Library spawns neighborhood revival
April 28, 2008
Cory SchoutenA local developer plans to spend up to $45 million building a "north village of downtown" on several parcels it has assembled
near the Central Library. Buckingham Cos. plans to build apartments, offices, restaurants and retail space-all surrounding
its headquarters in the three-story Stokely-Van Camp building at the southeast corner of Meridian and St. Joseph streets.
MorePremier Properties lays off workers as lawsuits, debt pile up
April 7, 2008
Cory SchoutenPremier Properties USA Inc. has eliminated about half its headquarters staff--more than 40 employees--as banks seize several
of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally
redirected rent payments and check fraud.
MoreDeveloper pulls back on growth to survive precarious economy
March 31, 2008
Cory SchoutenThe CEO of locally based Lauth Group Inc. says most people he knows in the business, even the steely types who always project
optimism, are privately nervous about the economic morass that began with a collapse in subprime mortgages.
MoreBrowning eyes airport land
March 3, 2008
Chris O'MalleyBrowning Investments is contemplating developing a business park just north of Indianapolis International Airport in what
would be the largest development to date in the so-called Minnesota Street corridor.
MoreTrustee inches toward redeveloping property portfolio
February 11, 2008
Peter SchnitzlerCenter Township Trustee Carl Drummer and his predecessors have stockpiled more than money over the years. The trustee's office
also holds a portfolio of mostly undeveloped properties worth at least $10 million. Several key parcels have been on the trustee's
books-and off the tax rolls-for decades. Drummer has made some progress in finding uses for the properties since an IBJ special
report first questioned his holdings in November 2006. But it would have to be measured in inches. The most...
MoreDeveloper with environmental bent has $20M pipeline of projects
February 4, 2008
Cory SchoutenExpensive suits and luxury cars are standard issue for most developers, but not for the owners of locally based Casa Verde
LLC. Three of four owners sport beards. They build only Leadership in Energy and Environmental Design, or LEED, certified
projects. But don't let the hippie image mask the company's mission: Make green by building green.
MoreMemo: Unpaid contractors demanding payment from Premier Properties
January 28, 2008
Cory SchoutenPremier Properties USA Inc. is scrambling to keep up with bills for basic services including snow removal,
security and interior design—more signs of financial troubles for the developer of Metropolis in
Plainfield and the proposed Venu project in Indianapolis.
MoreFormer RCA industrial site to get $20M rehab
January 21, 2008
Cory SchoutenA Bloomington company that revived a former Thomson Consumer Electronics/RCA plant in that city is taking a shot at redeveloping
one of the largest industrial eyesores in Indianapolis, also a former RCA complex. Pinnacle Properties plans to spend $20
million redeveloping the 13-building property northwest of Sherman Drive and East Michigan Street.
MoreNature Conservancy buys blighted industrial site
January 14, 2008
Cory SchoutenThe Nature Conservancy has agreed to buy a blighted industrial property on the eastern edge of downtown to develop a new Indiana
headquarters. The $4.5 million project--which will revitalize or replace the former home of Nemec Heating & Supply Co. at
614 E. Ohio St.--should provide another boost to an area that has been bulking up on development, mainly residential.
MoreDevelopers roll out barrage of projects
December 31, 2007
Cory SchoutenIt was a big year for downtown development proposals. Two in particular grabbed headlines: Legends District SoDo and Penn
Centre.
MoreDevelopers have new plans for corner
December 31, 2007
Cory SchoutenThe retail juggernaut at 86th Street and Keystone Avenue could get even stronger in the next several years. Locally based
Premier Properties USA Inc. revealed plans in 2007 for a $750 million redevelopment of a prime corner near The Fashion Mall
at Keystone.
MoreSPECIAL REPORT: Financial travails dog 'mystery man' at helm of Premier Properties
December 17, 2007
Cory SchoutenAn IBJ review of hundreds of pages of public records shows Christopher P. White and his Premier
Properties USA Inc. are facing major financial and legal challenges. The most glaring signs of trouble: Contractors have filed
more than $3.5 million in liens against Premier’s retail properties in Plainfield; the state of Indiana is trying to
recover $375,000 in sales taxes on White’s airplane; and the contractor who renovated his Lake Clearwater mansion
is suing him to recover more than $600,000 in unpaid bills.
MoreSoDo proposal faces stiff odds
November 19, 2007
Cory SchoutenIf Circle Centre mall were built today, it would cost $420 million. Throw in another $60 million, and you've got the price
of Legends District-SoDo, a proposed mixed-use development on the south edge of downtown.
MoreConcert hall component would test demand
November 19, 2007
Jennifer WhitsonEntertainment is a big part of a $480 million development proposed for the south side of downtown--plans include a 3,400-seat
theater to attract the likes of Bruce Springsteen and first-run tours of Broadway shows such as "Wicked." The question is
whether the city can support another midsize venue.
MoreTurf war unfolds in Babe Denny neighborhood
November 5, 2007
Cory SchoutenA long-neglected neighborhood south of downtown called Babe Denny suddenly is in the spotlight, attracting attention from
city planners, code enforcers, land speculators and a politically connected attorney.
MoreDeveloper lures Whole Foods across street into Venu project
October 29, 2007
Cory SchoutenThe developer of a $750 million mixed-use project called Venu has acquired a 13-acre site across the street from where another
developer had planned to build condos and a Whole Foods Market.
MoreCity fights property owners over value of land by stadium
October 29, 2007
Cory SchoutenA legal fight is brewing over a 2.3-acre parking lot sandwiched between the RCA Dome and Lucas Oil Stadium. The state is seeking
to acquire the property through eminent domain and is fighting an appraisal that puts its value at $7 million. The owners,
meanwhile, contend the land is worth about twice as much.
MoreRalston Square project would honor city's first planner
October 8, 2007
Cory SchoutenA local development team is working on a 10-story, mixed-use tribute to a man who helped design the original plan for Indianapolis,
Alexander Ralston. The $60 million project, dubbed Ralston Square, would feature a 150-room hotel, 55 condos, a 617-space
parking garage and 41,000 square feet of retail space.
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"And the success of the Indiana GOP to not allow an expansion of Medicaid had nothing to do with Indiana hospitals' financial woes? Fixed that for you; editorial bias rebalanced. Seriously, there are so many things wrong with Obamacare that the only way one can view it as a success is to assume that it was designed to fail our way into a government single payor healthcare system. The system is complex, creates huge regulatory burdens and overhead and yet still does not have adequate means to control escalating health care costs. But then when you elect a 10th grade math drop out with no quantitative reasoning skills to be President of one of the world's most important economies in troubled times, you can't really be surprised by blatant stupidity.
No NIMBYs here to chase off a decent development. We don't need tons of parking and we'd happily play the role of host to a downtown Whole Foods.
Whatever you do, don't change a single thing about Broad Ripple. I want it to look just like it did in the late '70s, with 30% of the north side of Broad Ripple Avenue burned out and plenty of places to park. That's right Broad Ripple, NEVER CHANGE. Let the world pass you by, don't improve your empty, abandoned lots full of weeds. Someday someone will want to film a zombie movie here.
Hollywood could step in and make a movie about the history about this forlorn series. It could be a full celebrity cast of characters. WOW. http://www.advanceindiana.blogspot.com/2013/02/indiana-taxpayers-forced-to-pay-for.html
This shouldn't come as a shock to many. Austin is a great city, and Indy needs to take some notes. Austin invests in decent transit options, has a highly educated workforce, embraces a creative class, and --despite being the state capital-- is not micromanaged by rural and suburban legislators. Want Indy to grow? Invest in the city (i.e. spend money). Raise taxes a bit, and use the money to improve education. And keep the state legislature out of Indy the other 9 months of the year.