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Longtime CEO of Acorn Group real estate firm dies

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Albert M. Donato Jr., 70, the longtime CEO of the Acorn Group Inc. real estate firm in downtown Indianapolis, died Monday.

Donato founded the commercial real estate and property management firm in 1988 and most recently served as CEO and board chairman. His son, Albert M. Donato III, is president of the firm.

Donato entered the commercial real estate business in 1978. His most notable projects included the redevelopment of One North Penn, where Acorn’s office is located, and the nearby Jefferson Plaza.

Donato began his career as a manager at Western Electric and later was a general partner at William C. Roney & Co., a national investment banking firm, where he served as co-manager and broker for the Indianapolis office.

Born in Indianapolis, Donato graduated from Cathedral High School in 1959 and attended Wabash College before earning a bachelor’s degree in economics from Indiana University in 1964.

Leppert Mortuary is handling service arrangements.
 

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  • He will be missed
    Al touched the lives of a lot of people, and he will be missed dearly. The past few days I've heard story after story from friends and business associates relating numerous kind acts made by Al. Above all, Al was a wonderful person. I miss you buddy.

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  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

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