Live next door to The Distillery

April 30, 2007
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Plans are in the works for a residential and retail project on a state-owned parking lot between Indiana Avenue, Capitol Avenue and Vermont Street, IBJ reported this weekend. Two groups bid for the three-quarters-of-an-acre parcel, and the winner includes Jim Thomas, a partner with Hearthview Residential. The cost: $920,000. No renderings were available, but the project is expected to include a bank and about 30 condos. The block is anchored by The Bourbon Street Distillery and Musicians' Repair & Sales.
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  • VERY happy that this site is being used for residential (the state also suggested a hotel as a potential development). Considering 757 Mass Ave is 23 condos in on a slightly smaller piece of land -- maybe 2/3rds the size of this site? -- 30 condos on this site is probably going to be in the 4-5 story range. Sounds perfect for a kick-off project on Indiana Ave.
  • Glad to hear this. As a property owner in the neighborhood, I welcome more residential development along Indiana Avenue and in the immediate area of the Canal.

    I'll be keen to see the renderings.

    Welcome to the neighborhood!
  • Umm...exciting...a bank...and some condos. That will really get the crowds swarming back to Indiana Ave. Why not another cafe with outdoor seating, a pizza place, or something else to drive more foot traffic? There's already a ton of residential in that area - I know because I live 20 feet away. What we could really use are some more dining/bar options in the area to bring more folks in.
  • AJ -- other articles have indicated that the ground floor will be used for retail. The bank is just one tenant and with three pretty large pieces of street frontage (Indiana, Capitol and Vermont), you have to think that there will be some restaurants or bars among the uses. Here's a piece of IBJ's article:

    A restaurant or service-type retail use such as a dry cleaner or a FedEx Kinko’s would work well on the site, particularly if it can serve residents living above and attract students from IUPUI, said Steve Delaney, a principal with locally based Sitehawk Retail Real Estate.

    Being a resident of the area, I'm confused why you seem unhappy about the condo component. Would you rather have a transient hotel population or an office component that disappears after 6pm? I also live in the immediate vicinity and I'll take a stable resident population over those uses any day.

    Honestly, aside from more a little more density -- and if they're going for a Mass Ave feel in the development of Indiana Ave, I'm not sure how much more dense you'd want it to be -- I'm not sure how this announcement could have been any better.
  • No offense, AJ, but that side of town could really use some additional non-apartment residential development.

    As far as the bank is concerned, I'll take anything that's not the makeshift ATM at the Distillery.

    And I can't imagine that the other retail won't be more appealing to your sense of adventure. A plethora of college students, state employees and politicos all exist within walking distance.

    I'm going to register as a lobbyist today and start pushing for a good, inexpensive sushi place.
  • CorrND,
    I didn't have an opportunity to read the actual IBJ article - just the blurb here - and the additional info definitely sounds more like what we need. I have no problem with condos as long as there are ample retail spaces below them to drive foot traffic and get people to stick around. It would be nice to have a Mass. Ave feel next to the canal.
  • Jen,
    I concur on the ATM. Let's hope the bank is a Chase Bank... As for sushi, happy hour sushi at Bistro Tchopstix is so close...
  • Hope I didn't come off as attacking AJ! Sounds like we're definitely in agreement.

    One thing I find interesting is that every downtown development seems to want to put in a bank in the lower level. Who are all these banks interested in opening new branches?! AUL says they're interested in getting a bank branch in the Gibson Building (Capitol and Michigan), the Broadbent Building is being redeveloped with space for a drive-through bank, and I'm sure the MSA developers are looking into having a bank for their ground floor. Plus, this Indiana Ave. development wants ANOTHER drive-through bank:

    The property appraised for slightly more than $900,000, said John M. Bales, president of Venture Real Estate Services, which has a contract to help the state dispose of surplus real estate. Bales said a preliminary site plan includes a bank with a drivethrough and about 30 condos.

    I don't know how downtown is going to support all these banks and I can't believe the city is signing off on another drive-through.
  • AJ, doesn't that place close at 6 p.m.?

    Happy hour is for drinking. Sushi is for dinner.

    I've always thought a small sushi place would go well along Mass. Avenue. It could even convert into an intimate wine/cocktail bar after hours. I'm a big fan of the eateries in Chicago that turn into clubs late at night.

    By the way, why are you complaining about Indiana Avenue? I thought you were skipping town soon!

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