Bankrupt retailer Steve & Barry's now plans to close all of its remaining stores, including anchor
shops at Lafayette Square and Washington Square malls. Bay Harbour Management and York Capital Management, the investment
firms that bought 173 of the stores out of bankruptcy in September, now plan to liquidate the stores by early 2009, Reuters
reported. The weakening economy and retail market were blamed for the decision. The chain has about 170 stores. The bankruptcy
filing says the company has less than $50,000 in assets and liabilities between $100 million and $500 million. The closure
of the Lafayette Square store is another blow for that mall's new owner, Ashkenazy Acquisition Corp., which learned in October
that Sears also plans to close by early next year.
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Welcome to Property Lines, Indy's source for neighborhood real estate news. Your host is Scott Olson, IBJ's real estate beat
reporter. Edited by Cory Schouten.
Bankrupt retailer Steve & Barry's now plans to close all of its remaining stores, including anchor
shops at Lafayette Square and Washington Square malls. Bay Harbour Management and York Capital Management, the investment
firms that bought 173 of the stores out of bankruptcy in September, now plan to liquidate the stores by early 2009, Reuters
reported. The weakening economy and retail market were blamed for the decision. The chain has about 170 stores. The bankruptcy
filing says the company has less than $50,000 in assets and liabilities between $100 million and $500 million. The closure
of the Lafayette Square store is another blow for that mall's new owner, Ashkenazy Acquisition Corp., which learned in October
that Sears also plans to close by early next year.
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Ameriana Bank took over Westfield Farmers Market for 2013 and it is held in their parking lot, corner of 32 and Carey road, 5 to 8. I am selling soap and candles there. great market!
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B&T certainly has enough of our taxpayer dollars to do this thanks to Mayor Ballard. Given the firm's exceedingly poor reputation in the legal community, the basement would seem a better option.
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Should read MAY hire 20 people.
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Not a good location for a 300,000 home. 10th Street fumes, buses, noise. Max for this location 150,000.
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The state constitution also does not say that the majority has a right to quorum, nor that the minority is required to allow them quorum. In fact, denial of quorum has been a parliamentary maneuver since the establishment of the first parliaments in the early 1600s. The right to deny quorum (and the requirement fore quorum) are to prevent exactly what happened in Indiana: A tyrannical majority pushing through odious, objectionable legislation. Denial of quorum is totally legitimate, and lest we forget, a tactic the GOP has employed many, many times to ensure their issues weren't given short shrift. By allowing the majority to impose "fines" on the minority for exercising the authority the constitution grants them (to deny quorum,) they are violating the constitution.
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I don't get it, why revel in the obvious, as if there's some kind of mall envy or competiton going on out there? Malls are, for the most part, boring, cookie-cutter, and somewhat outdated....hardly something over which to either boast about OR ridicule.
For all its problems, the Lafayette Square area is well-worn (and once you hit bottom, you come back up), but still has an interesting ethnic and socio-economic mix. It's far from white bread and bland, but admittedly and obviously, it's a challenge for traditional retailing. Best of luck to whoever makes a go of it. Macy's in Plainfield? Oooh, so exciting -- an over-the-hill retailer in a sea of flat, treeless paved over cornfields. If you celebrate sameness and mediocrity, have at it.
BTW, if you're looking for the city's most diverse dining locale, there are a ton of good, cheap, and diverse ethnic eats in this part of town.
anywho, macy's rocks, best bang for the buck. promoted well, priced right, and great quality. they will be around.
plainfield? like we need another greenwood whitey town. lol.
I agree with the International Market Concept. Tear down part of the mall, open it up like some of the other malls but have an internation prescence in it, and create a grand scale international marketplace with vendors and different foods. Sort of a Fannueill Hall MArketplace or something.
that is a great post, and what this board needs more of: humor. can you lend some to berwickguy? PLEASE?! :lol:
You're an idiot. Enough said.
zzzzzzzzz and then tomorrow morning you wake up and realize nothing's changed. So sad. Put on your clown face and take on the day!
zzzzzzzzz and then tomorrow morning you wake up and realize nothing's changed. So sad. Put on your clown face and take on the day!
Yes, most of the country doesn't use computers, watch movies, drink wine or buy goods exported from the Pacific Rim. One out of every ten Americans is from California, the state that accounts for 13 percent of the GDP, so I'm not sure what country you're talking about.
I'm talking about the West Coast ideology. I don't care what some guy from California thinks about the mall situation in Indianapolis, but for some reason he thinks his criticism is relevant to our discussion. California as a state and an economy is very relevant to every person who lives in the US. It's true that 1 out of every 13 Americans is from Cali, too bad 8 out of every 10 movies made suck. Do you have any pull with Hollywood to get some decent movies made:)
Not sure why trolls from California feel the need to vent their insecurities on an Indianapolis Business Journal website, but there's no need to tolerate repeated behavior. Keep an eye out for it and don't let him/her degrade the forum. For those of you in Indy, it is that condescension from San Diegan--and the relentless Keeping Up with the Joneses attitude of the coasts--that explains why I'm looking forward to leaving the East Coast and returning to the Midwest. And it only exposes the hypocrisy from someone calling Hoosiers racist by comparing them to world class cities like San Diego. No ghetto in San Diego? Los Angeles? Oakland? California as a STATE is beset by white flight! Who will be left to make your superfluous wines when all that remain are the fruit-pickers? But of course, none of those people are racist; that only occurs in flyover country...
Please educate yourself better about our city if you plan to comment on this blog. I live just north of downtown and I don't consider my neighborhood (SoBro) ghetto - diverse, yes, ghetto no. I'm sorry you feel that diversity must equal ghetto. There are many other great neighborhoods inside the 465 ring - Irvington, Meridian Kessler, Butler Tarkington, ect. that NO ONE would call ghetto.
I guess Cali isn't so grand if you have to spend your time reading a blog about Indy and making blanket statements that have not a kernal of truth. It's attitudes like yours (Holier-Than-Thou) that really give many undeserving California residents a bad name. Also, it's tired. Find a new schtick - m'kay?
We really could care less that you lowered yourself to comment favorably on our downtown. I like living here - and I'm not sorry I do. It's a nice city, a nice size, and people are not so pretentious as they seem to be in other places I've visited.
Have a nice day!
:lol:
Aside from the openly hostile tone, most of what he/she says is true.
A summary of his truthful statements:
Lifestyle centers ARE 1 degree away from the classic indoor mall design. Both of them suck. (They're not a product of the 80s though, more like the 50s.)
Most Hoosiers DO tend to shop at Wal-Marts, Meijers, and Targets. (Don't you?) A lot of us ARE country bumkins. I'm proud to be from Indy and am certainly not a bumkin, but I'm not going to pretend like most of my neighbors aren't. (I'm also not ashamed of them. They're the nicest people in the world!) We also have a large population of highly-educated, creative individuals, and are attracting more all the time. But they don't outweigh the bumkins just yet (and I don't want them to). :-)
The money does continue to leak out to the Plainfields, Fishers, Castletons, etc. and those WILL become the new Lafayette Squares, Glendales, and Eastgates once newer Malls and town centers are built even farther out. (Remember, those used to be the nice new escapes from inner-city Indy in the 60s.) Our strip-mall development patterns guarantee it. As long as money-hungry developers keep building newer facilities so people can get away from all the congestion that the old developments bring, the money will follow it. It's already happening to the area around Castleton Square because people are moving farther north. That area doesn't really look that different that the area around Lafayette square except for the number of people and the color of their skin. Investing in maintenance and upkeep isn't in the American mindset. We just build new big boxes and leave the old ones for the poor people.
Most of the areas outside of Downtown and the northside ARE in a state of disrepair and to most outsiders look ghetto. It's a fact. Our infrastructure IS crumbling. Weeds stick out of the sidewalks everywhere. The stripes in the roads are gone. Crosswalks don't exist. There is a bunch of dirt at every intersection. (Get out of your car and walk and you'll notice it, drive more slowly and pay attention to the neighborhoods you race through on your commute home.) Just because we're used to the state of disrepair that our city's in and no one's doing anything about it here, doesn't mean we have to get up in arms when some yahoo from San Diego points out our flaws. :-)
I ain't hatin', I'm just statin'.
Watch carefully what happens with Glendale, which is one of the FEW redevelopment projects that has legs. While they got 20/30 mill or whatever from the city, lets see if the promises made to the areas around here get followed thru. There was to be a series of bikepaths along 62nd street ( E and W) and bike racks, storage, fitness center(which seems to be thriving)low-mid priced (Flat Top Grill) restaurants that match up with the existing Panera/Target/OCharleys ten mix. This is considered kinda upscaley to the hill jacks in most of Marion County, but should be easy to grasp as nice n comfortable to the flabby Nascar crowd we surround ourselves with here in Indy. IF we decide to be a citizenry that understands and embraces fitness and health. IF.
You are absolutely correct that we all shop at Kohls/Menards/Kroger and I have no problem with that. What I DO have a problem with is the complete apathetical fat laziness this city finds itsself in, allthewhile our leadership is doing nothing about it. I went to a Colts game recently (and for the first time sat in the end zone/corner area) and could not believe the sea of human blubber in attendance. I got no problem with slammin a couple beers and hot dog at a game, but Jesus H, these folks were inhaling the nacho cheese, fryburgers and deep fried glop at an alarming rate. It was everywhere, gramps, momma, papaw, junior, the whole lot of em. All white, all stupid, all Nascar, and all overweight und undereducated. Made me sad. We Hoosiers must just be content to sit on our fat butts all day and watch TV. :(
Color me pessimistic and all, but man this is getting bad around here.
{/sad blog}
Da Hooey, why would you hold out hope for the bike paths and sidewalks around Glendale? If the City wasn't going to require Kite to do any of it, minimally sidewalks around the perimeter of the mall, when the City was writing a fat check, where would the money come from now.
And the thing I don't get is why you see the need to even identify the skin color of the human blubber you saw at the Colts game. Do you have a lower or higher standard for whites, which made it relevant to make sure we knew what color these people are?
and on the white folks comment at Colts games, - again just some humor, mate. I try to treat everyone unfairly. :lol: Like my mom used to say: If you can;t say anything nice, well, at least make it funny.
Should we make it easy for the people who live within a mile to walk or ride a bike to Glendale Life Style Big-Box Centre (and the six pizza joints near 62nd & Keystone) or should we make 'em drive?
So does anyone see a new form of development happening in the upcoming years, like redevelopment of smaller partially built/underutilized parcels closer to the core? Or will the next couple decades see no construction whatsoever?
It's just so depressing to me to see no activity on this blog, seems like the bad news just gets worse. But then, some say the smart and adventurous can make great investments right now.
Also, Da Hooey, as a recent Hoosier (3.5 years now), I think you hit the nail when you said the problem is LOW EXPECTATIONS. But is that what insulates us from falling farther than those who reach higher?
It's not low expectations so much as limited vision: we see what's in front of us and look for small improvements. Evolution, not revolution.
That Sears is just awful, depressingly lit, not much traffic...why would I go to Sears for hardware or appliances when I can go to HD or Lowes ? That leaves...clothes ?
Jose Frog came and went, very fast.
Wash Sq is, thanks to the Simons' freind Bart Peterson, fully within a new tax abatement district. Maybe the Glendale concept (with less screwed up parking) will be the new thing at WS.
Eastside has too much low-end retail to begin with, there's no stores left that will fill in for S&B's giant space. so why not tear some of it down ?