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$150M 'North of South' project moving ahead

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Officials are announcing details of a $150 million downtown development planned for 10 acres Eli Lilly and Co. owns near its Indianapolis headquarters.

Among the plans: a 148-room hotel, 320 high-end apartments, 40,000 square feet of restaurant and retail space, and a 27,000-square-foot YMCA.

As IBJ reported in June, local developer Buckingham Cos. proposed the mixed-use project, dubbed North of South. It will be built on land that now houses a parking lot north of South Street between Delaware Street and Virginia Avenue.

Lilly would be a "significant user" of the various amenities, Buckingham CEO Brad Chambers said in June.

Preliminary plans called for several buildings, four to six stories each, with street-front retail and concealed, shared parking.

Buckingham, one of the largest apartment developer/owners in the Midwest, has branched out in Indianapolis with mixed-use properties. The company is developing several properties surrounding its headquarters in the restored Stokely Building along North Meridian Street, and is shepherding a $20.5 million redevelopment of a former YMCA branch near IUPUI.

This story will be updated here.

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  • Other Issues
    Why are we becoming so angry over a project that will in the end produce some long lasting jobs, an increase to downtown property taxes and revenue, and also bring more residents to a downtown still suffering from a commuter mentality. Last time I checked, The government is the only supporter of road projects which bring no lasting jobs and return negative investments to the local economy. Maybe we argue the wrong things. Put this in a perspective of long-term impact. I personally would rather provide financing and improvements for a project, almost unlike any other, to create a mixed use district in an underserved area of downtown than to build a wider highway.
  • stories
    how many stories will the hotel have?
  • Well...
    ... we have a picture now, at least. Does that mean additional details should be forthcoming?
  • How Much Taxpayer Funds?
    How much is the city/county/state providing for this project?

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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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