North side project to include Paradise

May 11, 2007
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Office/Retail projectA two-building office and retail complex at the corner of Meridian and 96th Street will include a Paradise Bakery & Cafe and a McAlister's Deli. Landmark Properties is developing the 45,700-square-foot project just south of McDonald's. One of the buildings will be three stories and the other will be two. Both will include retail on the first floor. The project was designed by Noblesville-based Curran Architecture.
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  • You know what else would go great there? A Starbucks!
  • Anyone know whats gonna happen with the closed Kro-ghetto at 96th and Meridian?
  • The parking lot in that rendering looks great!
  • this looks like a nice development (again, higher density!), but i agree with liberty bell (ha ha - nice name) with the parking lot. i hope that will be towards the back. this city, for some reason, neglects to put buildings right up on the sidewalk. that creates sprawl and it's unfortunate and annoys me everytime i see a project like that. we should be encouraging pedestrian traffic with every new development (less car trips, more calories burned). but again, this will be a nice overall addition to a marquis area in need of some polishing...
  • The parking is on the west side of the building. The rendering is from the west looking east. Meridian Street would be int he background. The building is pushed up as close to Meridian Street as zoning ordinances will permit, with just a drive lane between the grass/landscaping that will exist between Meridian and the buildings.
  • I'm glad Curran Architecture has been chosen for this building. I like a lot of their other work, like the animal hospital on Rangeline Road in Carmel. Their style is a lot of midwestern-prairie style updated with a very clean, modern chic.
  • Shawn, thanks for the clarification!

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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