Offers pour in for Guaranty Building

May 3, 2007
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The 98-year-old Guaranty Building on Monument Circle has attracted several prospective buyers, Guaranty Buildingsaid Mike McMains, who owns the property with John Barnard. The local entrepreneurs bought the 9-story, 100,000-square-foot building at 20 N. Meridian St. in 1997. After renovating the building, which was virtually empty at the time, they have achieved 100 percent occupancy. The owners were hoping to get at least $13 million for the building but word on the street is the offers are stronger. The largest tenant is e-mail marketing company ExactTarget. Others include Au Bon Pain Cafe, Nicky Blaine's and South Bend Chocolate Cafe.
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  5. The basic idea of nice apartments with parking and retail is a good one, but this design seems overwhelmingly big/tall for Broad Ripple. The size could be disguised a bit with lots of big trees/landscaping, but the complex is too massive to blend in easily. That section of canal between College and Westfield will also need to be upgraded on both sides. Nice apartments facing onto a nice promenade with shade trees/plantings could bring together the canal towpath/Monon recreation, the outdoor seating at existing restaurants, and this project into something that upgrades the whole area. A plan for the whole stretch makes more sense than facing nice new housing onto what looks like a ditch. Is there a plan? Does the public have input? Who pays? The apartment idea seems to be reasonable, but Whole Foods is not a good idea for appropriate retail. Besides the store being physically too big, there are already Fresh Market at 54xCollege and Whole Foods in Nora for fancy groceries. Good Earth and Kroger are within walking distance of the Shell site. There are at least 7 grocery stores within a safe bike ride. Whole Foods would add nothing but traffic congestion. This design is on the right track, but there needs to be more work done to ensure that it blends in with and enhances the existing community. A project that large will set a tone for that whole part of town. It could be a real asset, but only if done right.

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