Real Estate & Retail

Not-for-profit thrift stores shake low-end imageRestricted Content

May 7, 2007
Lisa Gerstner
Thrifty Threads store manager Tim Waldrip can hardly keep up when he puts stylish used clothes on the thrift store's mannequins. Customers snag them so quickly he has to change the outfits three to four times a day. Regardless of what its mannequins are wearing, the not-forprofit shop on West 86th Street is flourishing. Sales in 2006 reached $336,000-a 24-percent increase from the previous year. Now the Julian Center, the Indianapolis shelter for abused women that runs Thrifty Threads, is...
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St. Vincent taking over Thomson HQRestricted Content

April 30, 2007
J.K. Wall
A shrunken Thomson, the former manufacturer of RCA televisions, is vacating a landmark office building at its Carmel headquarters to make way for St. Vincent Health, the parent company of a growing chain of Indiana hospitals.
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Winning bidder plans mixed-use project: Plan for state-owned parcel would add new neighbors for Bourbon Street Distillery, Musicians' Repair & SalesRestricted Content

April 30, 2007
Cory Schouten
The winning bidder for a prime piece of state-owned land on the west side of downtown hopes to break ground later this year on a residential and retail complex. The project would replace a shabby parking lot on a triangle-shaped block that is now anchored by The Bourbon Street Distillery and Musicians' Repair & Sales. The U-shaped, 0.75-acre property at 340 N. Capitol Ave. touches Indiana Avenue, Capitol Avenue and Vermont Street. The development likely would include condos above a...
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Pension changes fill state's VC coffer: Indiana Investment Fund has $155 million to pour into Hoosier companiesRestricted Content

April 30, 2007
Peter Schnitzler
The diversification of the state's two enormous public pension funds into private equity is transforming Indiana's venture capital sector. And their $155 million Indiana Investment Fund is the largest factor in the equation. If it's successful, the Indiana Public Employees' Retirement Fund and the Indiana State Teachers' Retirement Fund will save Hoosiers untold millions of dollars and help launch a host of new high-tech companies. If it's not, taxpayers will one day have to foot the bill. Indiana State Budget...
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STATEHOUSE DISPATCH: Events outside the Capitol shape final days of sessionRestricted Content

April 30, 2007
Ed Feigenbaum
As I write this, we have no way of knowing what the 2007 session of the Indiana General Assembly will mean for gambling, property tax relief or the biennial budget-the three overarching items looming over the heads of lawmakers as they entered their final week of deliberations. But that won't prevent us from making a few pertinent observations about the context, and how that atmosphere was shaping events. Each legislative session possesses a flow of its own, based on incidents,...
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Entrepreneurs eager to pamper your petsRestricted Content

April 30, 2007
Jennifer Whitson
Americans are spending more than ever on their four-legged friends, and savvy central Indiana entrepreneurs are among those cashing in.
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EYE ON THE PIE: For sale: an American house of cardsRestricted Content

April 23, 2007
Morton Marcus
A chicken in every pot and a car in every garage. Herbert Hoover never said those words, but they were part of his presidential campaign literature in 1928. Should they be the goals of American politics? Should we subsidize the price of chicken to keep poultry and grain farmers happy while consumers pay less at the grocery? How about lowering the cost of owning an automobile by allowing automobile interest payments to be refunded as tax credits? Along with these...
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Farmland values soaring, but still lag other sectors: Cornfields far more valuable when sold for other usesRestricted Content

April 23, 2007
Scott Olson
Escalating demand for corn driven by the ethanol boom is propelling farmland prices higher, but not nearly enough to deter commercial developers from nabbing prime pieces of property. An average acre of Indiana farmland rose last year in value almost 16 percent, representing the largest annual jump in at least two decades, according to the U.S. Department of Agriculture. Prices this year are projected to increase by an even larger percentage. Land values are escalating because corn is expected to...
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MICKEY MAURER Commentary: An Indianapolis gem shines againRestricted Content

April 23, 2007
It's no secret that my mentor is Gene B. Glick. I was privileged to work for Gene early in my career and learn the right way to be a success in business. For example, the ability to remain calm while reacting to the many calamities and adversities of a typical business life is one of the attributes of the Glick style that I admire most. I could have used more time at the feet of this master, but, luckily, school...
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Downtown hot for apartments: Developers of new multifamily projects encouraged by high occupancy rates, rising rents, waiting listsRestricted Content

April 23, 2007
Cory Schouten
Justin Williams and Meredith Barrett grew up on the south side, but that's not where they'll live after getting married in September. They're looking for an apartment downtown. It's the only neighborhood they're considering. "I love being right in the middle of everything," said Williams, 25, a server at P.F. Chang's China Bistro in Circle Centre. Barrett, a 22-year-old nurse at Wishard Hospital, said she "just likes to be able to walk everywhere." The couple is part of a growing...
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MSA Round 2 plans pitched by local development teamsRestricted Content

April 23, 2007
Cory Schouten
Two new proposals for the parking lot formerly known as Market Square Arena are shorter and less dramatic than plans for a 31-story tower that fell through last year. But each of the new sets of plans has its flourishes.
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Broadbent's new era: Veteran real estate firm known for strip centers prepares for new headquarters, new leadershipRestricted Content

April 23, 2007
Scott Olson
The distinctive black-and-white façade of the Zipper Building at Washington Street and Virginia Avenue is gone, stripped away like ceiling tiles from an old bedroom. Replacing the unusual exterior of the three-story structure will be a more traditional brick and stone look-and a new moniker bearing the name of owner The Broadbent Co. Broadbent, the longtime developer of retail strip centers including Castleton Plaza, Clearwater Crossing and Fashion Mall Commons bought the downtown building last October and is set to...
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City buildings save money while gaining 'Star' status: EPA program gives tax breaks for energy efficiencyRestricted Content

April 23, 2007
Scott Olson
Thomson Inc. building, 10330 N. Meridian St. In 2006 alone, the EPA awarded more than 3,400 buildings nationwide with the Energy Star designation. Buildings can achieve the status by adopting an energy-management strategy and tracking the results during a 12-month period using an EPA rating system. Results need to be verified by a professional engineer. All Energy Star products qualify for a tax credit. A deduction of up to $1.80 a square foot is available to owners and designers of...
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FBI's project bid puzzles local developersRestricted Content

April 23, 2007
Cory Schouten
Some local developers were left scratching their heads last month when the federal government chose an out-of-state company to develop an FBI field office in Castleton. The U.S. General Services Administration awarded the $38 million project to Lake Winnebago Mo.-based BC Development Co.
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Canal could be home to new hotels or condos: Requirement for retail could jump-start slow effortRestricted Content

April 16, 2007
Jennifer Whitson
State and city officials have begun evaluating four groups that want to develop an acre of prime real estate along the Central Canal downtown. The property, which covers about a third of the block stretching from Ohio Street to New York Street, will feature canal-level retail-a requirement of all potential developments there. It also could be home to a hotel or condominium complex, based on plans from two local developers. Two other groups also are in the running for the...
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Carmel to get $30M Renaissance hotelRestricted Content

April 16, 2007
Cory Schouten
A prestigious, full-service hotel soon will complement Carmel's booming office market along North Meridian Street. A Cincinnati developer broke ground this month on a roughly $30 million Renaissance hotel with 263 rooms and 14,000 square feet of meeting space.
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Storied luxury Canterbury hotel may sellRestricted Content

April 16, 2007
Cory Schouten
The stately 12-story Canterbury Hotel could use a renovation, hospitality analysts say, to restore some luster and help it take on more modern competitors. Such an overhaul might be on the way, along with new owners for the independent boutique hotel at 123 S. Illinois St.
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Condos offering live/work space are hotRestricted Content

April 9, 2007
Cory Schouten
The age-old concept of living above your workplace is catching on again in Indianapolis, just as the developers of Douglass Pointe Lofts had hoped. The $2.65 million landmark at 25th and Delaware streets already will soon also be known for a diverse roster of local businesses.
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Kosene condos tout affordability in downtown marketRestricted Content

April 9, 2007
Cory Schouten
Kosene & Kosene Residential Inc. pioneered the downtown market for new-construction condos with luxury projects named after classic cars. Now, the locally based company is striving to attract buyers for its latest project by adding a new standard feature: affordability.
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Taliera switches strategy for buying underperforming brands of boozeRestricted Content

April 9, 2007
Peter Schnitzler
Taliera Corp. plan to raise $60 million through an initial public offering was withdrawn March 27, but Taliera isn't going away. It's simply trying a different approach. CEO J. Smoke Wallin said he and his team of eight beverage industry veterans still believe their business plan is right.
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Indiana joins splashdown of water parks: Indoor resorts on the rise as hotels try to lure guests during offseasonRestricted Content

April 2, 2007
Scott Olson
The names Caribbean Cove and Paradise Bay inspire thoughts of tropical destinations where sunbathers slather lotion like Hoosiers butter their corn on the cob. In reality, these types of "resorts" are spouting up throughout the Midwest, including Indiana, and require no protection from harmful ultraviolet rays whatsoever. They're indoor water parks, a trend hoteliers are embracing to cater to families seeking a weekend getaway-and to boost occupancy during the off-season. The Indianapolis area features just one such water park so...
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Marketing firm hopes to give 3-D new shape: Scofield Editorial one of first Midwest firms to add bells and whistles to models initially used by architectsRestricted Content

April 2, 2007
Anthony Schoettle
Scofield Editorial, known locally as an innovator in video and post-production work, is burnishing that reputation by becoming one of the first firms in the Midwest to combine three-dimensional video modeling with traditional editing touches such as animation, sound effects, and other audio and video. Three-dimensional modeling was introduced by engineering firms about a decade ago, and has also been used by some video game manufacturers. But only recently have advertising agencies combined 3-D with traditional video editing touches. "There...
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Developer moving on after failed Crown Hill projectRestricted Content

April 2, 2007
Cory Schouten
In the eyes of many at a rezoning hearing late last month, the developers from locally based Mann Properties were bad guys. They wanted to build homes and a retail center on 71 mostly wooded acres north of Crown Hill Cemetery. So when the Metropolitan Development Commission denied Mann's request, the crowd erupted in applause.
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Dramatic facade change planned for office towerRestricted Content

April 2, 2007
Cory Schouten
The city's oldest skyscraper will get a sleek new look starting this summer, when workers are scheduled to begin installing a glass-covered curtain wall to replace a storm-scarred facade. Renovation of One Indiana Square should begin in June and continue for two years.
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Struggling office buildings face further losses: Existing tenants shopping for deals in troubled marketRestricted Content

March 26, 2007
Cory Schouten
A big question is looming for property managers at National City Center and First Indiana Plaza: Will tenants stay or will they go? Each of the downtown office buildings already is struggling, with occupancy rates in the 60-percent range at the end of 2006. But a grim situation could worsen if some of their largest tenants with expiring leases find a better deal elsewhere. Law firm Bose McKinney & Evans is considering a move from 80,000 square feet at First...
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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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