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Real Estate & Retail
Kits & Kaboodle founder back at it with Mass Ave store
December 3, 2007
Michael DabneyLocal-toy-store veteran Natalie Canull is now operating a bustling store on Massachusetts Avenue that's narrowly focused on
upscale toys--a niche that keeps her out of the path of mass-market heavyweights like Toys "R" Us and Wal-Mart.
MoreRegulators seek mortgage reforms
December 3, 2007
Peter SchnitzlerState regulators want more firepower to fight mortgage crimes. But a month before the General Assembly convenes, real estate
interests are uneasy, fearing lawmakers may go overboard.
MoreECONOMIC ANALYSIS: Reforms could create barriers to homeownership
November 26, 2007
Mike HicksThanksgiving is my favorite holiday. Maybe it is because no one wants me to help cook, or perhaps it's due to the stream of
college football. Mostly I think I like it because it is such an unhurried, fun, shared day. This year, many of us gathered
for Thanksgiving at family homes and we gave thanks for the many gifts life brings us in this nation. What many of us didn't
conscientiously dwell on is how important the simple act...
MoreRitter's sets new game plan
November 26, 2007
Cory SchoutenThe Indianapolis-based parent of the Ritter's Frozen Custard brand has been stuck in a cold streak lately, facing scores of
new ice-cream competitors and a dwindling lineup of franchisees. But RFC Franchising LLC is planning big changes designed
to firm up the home-grown chain, which now has 48 stores in nine states, down from more than 60 locations in 2005.
MoreCommentary: Let's welcome Hilbert back
November 19, 2007
Mickey MaurerYou gotta love Steve Hilbert. He conceived of an idea and had the strength and focus to achieve an extraordinary result that
he sustained over a number of years. ... He will undoubtedly return to the grand game of entrepreneurship. If given the opportunity,
I would be inclined to invest in his next venture. -July 10, 2000 I penned the above prediction in this column on the anointment
of Gary Wendt as CEO and savior of Conseco Inc. After Stephen...
MoreVIEWPOINT: The high cost of traffic Band-Aids
November 19, 2007
Adam ThiesAccording to the article titled "Traffic Transformation?" in the Oct. 15 IBJ, the Indiana Department of Transportation is
working on a roughly $600 million plan to relieve traffic congestion in the area of interstates 465 and 69. Hold on a second!
What is really broken here? I contend little to nothing. Yes, roadways need maintenance and upkeep, but these roadways operate
just fine. Because this area is congested at the morning and evening rush hour, the perception exists that these...
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.
MoreWest-side group promotes ethnic eateries: Will visitors see gems among strip malls?
November 12, 2007
Jennifer WhitsonThe Lafayette Square neighborhood is known for its aging mall and the ongoing struggle to keep tenants there and in the surrounding
sea of strip centers. But some advocates want to promote a success story: the demographic diversity that has given rise to
a plethora of ethnic eateries in the area. Visitors who take a trip through some of the retail centers and outlots off West
38th Street can find the ubiquitous pizza, gyros and sushi-along with more unusual Ethiopian,...
MoreGlut of local golf courses puts squeeze on owners: Demand has never quite met expectations
November 12, 2007
Michael DabneyTiger Woods, the world's No. 1 golfer, has been great for the sport. But he has not helped attract enough players to the game
here and across the country to keep pace with the numbers who are stepping away because of age. That means many local golf
course owners are closing the books on another tough season. Some area owners have seen the number of rounds played decline
40 percent since 2000. Golf course values here, meanwhile, have slid about...
MoreHigh-rise in works near canal
November 12, 2007
Cory SchoutenA strong demand for student housing downtown is driving a $40 million plan for a high-rise apartment tower a couple of blocks
east of the Central Canal. The developer, a partnership of Fishers-based Paramount Realty Group and Indianapolis-based Alboher
Development Co. Inc., hopes to build the 16-story Paramount Tower on a OneAmerica parking lot.
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.
MoreNow solo, VP set to expand
November 5, 2007
Cory SchoutenConvenience store stalwart Village Pantry has launched a $15 million plan to renovate 146 stores and is eyeing acquisitions
that could double the chain's size in three years. The moves come as Village Pantry separates from parent Marsh Supermarkets
Inc., a company that for years treated the convenience-store division as a redheaded stepchild.
MoreECONOMIC ANALYSIS: It's time to use mass-appraisal model on state's homes
November 5, 2007
Mike HicksIn the 10 years since Indiana's property-appraisal system was ruled unconstitutional, taxpayers have spent perhaps $1 billion
to remedy the situation. That's more than $350 per household, and more than we spend on environmental protection each year.
"Wowser" is the only printable exclamation I can muster. Among other things, Gov. Mitch Daniels' tax plan proposes the elimination
of the township assessors (there are 1,008 offices statewide). According to a 2004 Chamber of Commerce study, streamlining
the system would result in...
MoreBEHIND THE NEWS: Smooth sailing for Simon, despite economic squall?
November 5, 2007
Greg AndrewsRetail pundits are trotting out all the downbeat analogies these days, as they fret that high gas prices and the slumping
housing market will crimp consumer spending the rest of the year. As Carl Steidtmann, chief economist at Deloitte Research,
put it, "The holiday season will be somewhat Grinch-like." So it may come as a surprise that some analysts are almost gushing
about the prospects for Simon Property Group Inc., the nation's largest mall owner. As Rich Moore, managing director...
MoreFast-growing WDG built on years of industry experience: Veteran of Kite, Lauth branches out on his own
November 5, 2007
Scott OlsonFor Mike Wyman, a devastating fire that gutted the family home during his teen-age years laid the foundation for a rewarding
career in construction. The 41-year-old Wyman climbed from carpenter to become a leader of projects at two of the city's largest
commercial developers before launching his own company in 2005. WDG Construction & Development Services Inc. on East Washington
Street downtown has since grown into a firm that expects to top $30 million in revenue next year-double this year's...
MoreSellers waiting for recovery in area housing market: Economist expects another nine months of 'slow going'
October 29, 2007
Michael DabneyMelinda and Brooks Bertl know the ups and downs of the current real estate market-personally. They started looking for a home
to buy this spring and it took them only two weeks to find one they liked in Carmel. "I guess we knew what we wanted and found
it. And the house had been on the market for some time," said Melinda Bertl, indicating the sellers were ready to make a deal.
They bought the house and moved into it....
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.
MoreBank's plans unclear after LaSalle buy: Bank of America unlikely to grow local retail biz, but lending office should stay,
industry observers say
October 29, 2007
Scott OlsonBut here in Indianapolis, where LaSalle's lone location is a downtown commercial lending office, banking observers don't expect
Bank of America retail outlets to follow. "I don't think [Indianapolis] will be a primary focus, at least not in the near
term," said Tom Kersting, an Edward Jones analyst in St. Louis who follows the bank. "Their main purpose in making the purchase
was getting the Chicago presence. That was the last major market they were lacking." Even so, observers say...
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.
MoreWhite-collar crime has a new watchdog: Indiana securities commissioner aims to educate investors, enforce law
October 22, 2007
Peter SchnitzlerMadison native Chris Naylor on Oct. 5 became Indiana's securities commissioner. He was appointed by Indiana Secretary of State
Todd Rokita to succeed O. Wayne Davis, who now is a semi-retired legal consultant. Naylor, former county prosecutor in two
southern Indiana counties, sat down with IBJ to talk about his goals as the state's top securities cop. The following is an
edited version of that interview. IBJ: What's your office's focus? NAYLOR: There are two large areas: investor protection
and...
MoreVOICES FROM THE INDUSTRY: Everybody's busy playing the real estate blame game
October 22, 2007
Brian MannThere's a game that takes place in most families with young children. You may be familiar with it. It's easy. Mom's cherished
(insert any household item here) develops a large chip. Mom sees the chip. Mom begins the interrogation: Who did this? "Not
me," says Johnny. and Wall Street. After all, they're the ones that loaned the money. It was too easy to get a loan, the critics
say. People were buying homes and building developments with high-priced coffee shops...
More'Aggressive moves' feed Flaherty & Collins' growth: Local apartment developer gaining national foothold
October 22, 2007
Cory SchoutenDavid Flaherty and Jerry Collins left comfortable vice president gigs at a local real estate firm to strike out on their own
in 1993. Roughly two years passed before the two former Revel Cos. executives received another paycheck. But the gamble eventually
paid off handsomely. Indianapolis-based Flaherty & Collins Properties has become a nationwide player in apartment housing,
with a staff of 412, a development pipeline of $500 million, and more than 13,500 apartment units under management. Flaherty
and Collins...
MoreEx-Duke exec, wife tackle senior housing: Horns have nationwide plans for The Stratford Cos.
October 22, 2007
Scott OlsonRichard and Wendy Horn have had their share of separate real estate successes. Now, they've combined their corporate talents
as a husband-and-wife team to lead an upstart senior housing developer. Richard joined The Stratford Cos. in May 2006 as chairman
and CEO, and has since moved its headquarters from St. Louis to Indianapolis' north side in Parkwood Crossing. He is known
within commercial real estate circles as a former veteran of Duke Realty Corp., where he enjoyed a two-year stint...
MoreParkwood West sets pace for north-side office space: Duke project boasts upscale amenities, top-level rent
October 22, 2007
Scott OlsonDuke Realty Corp.'s $125 million Parkwood West development well may be the new trendsetter for future office complexes along
the burgeoning north-side Meridian Street corridor. One West, a five-story, 186,000-squarefoot Class A office building, is
the first of three structures rising from the Parkwood West project at the northwest corner of Meridian and 96th streets.
The upscale design as well as the added amenities that include a parking garage-rare in the suburban market-could become the
rule instead of the exception....
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So the Mayor adds another non value added layer to having a vehicle towed? Whereby the City Government RECIEVES AN ILLEGAL KICKBACK FROM A LGOISTICS COMPANY THAT SUBS THE WORK TO LOCAL TOW COMPANIES? What is the service the City performs for receiving the "tribute"? This is RICO!!!!! What a corrupt and unnecessary layer. What a dirtbag Mayor and his cronies.
Owner occupied housing. Clear enough?
So people think I am paranoid. It's from experience in dealing with puds requested by developers who make major donations themselves to representatives, have nice fund raisers for those running for office and hide through pac's. then there are the public relation firms. You will note some pr comments below. You there Clyde Lee? My opinion. Commercial along 421, great. Multifamily housing, terrible idea that will change the town. Senior condos or zero lot line homes west, great. I suggest keeping all entries to commercial areas at 421. All entries to owner occupied on sycamore. Will keep the traffic on sycamore down some. Two other things. You can't trust what will be there in 10 years. Steve builds quality stuff, but areas change over time. Look at the changes at the wall mart center at 86th and 421 over the last 10 years. Look at the apartments and neighborhoods behind St Vincent's. Raintree properties WILL decrease in value if commercial and multifamily goes in near. It has already been happening around the bridges area. The houses that have been sold recently are way below market. Several deals not closed due to the Illinois construction and the whole unsurety of the bridges. It's pretty simple, Zionsville will approve the whole thing because the city council has been groomed over a LONG period of time for this. I might even suggest some are in their position as a result of this.
Esta, do you have a dog in this fight? You seem to really want to knock anyone against this project. No, I didn't move to Indiana for the architecture. I moved here for that red barn in the field. The horses and fields of corn. A place that is NOT overdeveloped. There are plenty of nearby places in Indianapolis that could be REDEVELOPED instead.
RKW - OK, we get it, you're paranoid. The question is, are you paranoid enough? Greg - Yes, Pittman(s) is (are) at it again. They are developers, they build things. It's what they do. So when you go to work tomorrow, Greg, you're at it again too. Cliff - Really? You moved to Indiana for its progressive architecture? That's like moving to England for the cuisine. Zionsvillain - The house you moved to was once a field or woods. I'm willing to bet folks were upset when that ground was plowed under and a house was built. But I guess now that you are in, everything should stop? "My house was OK, but the next one is sprawl." SE Guy - Please don't paint us with such a wide brush. Most reasonable Zionsville residents welcome planned, measured development.