A new site plan for the $750-million Venu project shows four anchor tenants: Whole Foods; Barnes & Noble; Arhaus, an
upscale furniture retailer; and REI, an outdoor-gear superstore that would be new to the market. Premier Properties CEO Chris
White said he also is talking with Carson Pirie Scott about taking space in the project. In addition to retail, Venu plans
call for an office tower, 5,000-seat entertainment venue, at least 15 restaurants and two hotels, all at the southwest corner
of 86th Street and Keystone Avenue. Hotel brands under consideration are Westin and Aloft. Can Premier pull it off? The company
and its owner are facing some serious financial problems. The full story is here.
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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.
A new site plan for the $750-million Venu project shows four anchor tenants: Whole Foods; Barnes & Noble; Arhaus, an
upscale furniture retailer; and REI, an outdoor-gear superstore that would be new to the market. Premier Properties CEO Chris
White said he also is talking with Carson Pirie Scott about taking space in the project. In addition to retail, Venu plans
call for an office tower, 5,000-seat entertainment venue, at least 15 restaurants and two hotels, all at the southwest corner
of 86th Street and Keystone Avenue. Hotel brands under consideration are Westin and Aloft. Can Premier pull it off? The company
and its owner are facing some serious financial problems. The full story is here.
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liek the rest of America
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These quaint,obsessed musings by the stalkers are certainly entertaining, but I'm trying to figure out what, if anything, all the yelping below has to do with Zak Brown.
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It's evident that Moffett was pushing the right buttons and corporate America is now trying to squash him. He just wanted to withdraw the free pilot services provided to the company by the pilots to try and put some pressure on a company that has not been interested in negotiating a contract in over 5 years. The company does not provide a contract because not having one has saved them a bundle of money. Shame on any Republic pilots not standing behind their union leader just because things are getting tough, can you not see such strategic moves by the company as putting the last union president in a corporate position and into THEIR pocket. Do you really believe the last union president is so appalled at the attempts by Moffett, do you not remember his oppositions to the company? We stood behind him. It has been proven over and over again for thousands of years without fail, a man cannot serve two masters. Anyone that believes people vote contrary to their paycheck and livelihood deserve to be taken advantage of, the recent statements by the former union president are laughable as he denounces the current union president from his new corporate position. Have you ever seen a drafted sports player score points for his previous team, it cannot be done, he is not on the pilots side anymore, he gets his money a different way now than you and I do, and he should not be allowed to remain on the seniority list. A drafted player brings strength, credibility, tactical knowledge, and a strategic advantage to his NEW team, he would not be drafted or paid were it otherwise. We are all forced to choose only one side to play for and support, not doing so has many references in life such as insider trading and shaving points, all illegal for good reason. This basic fact is why corporate moguls, scientist, and engineers all sign non-discloser agreements and non-compete clauses, as protection in case they are lured into switching sides as our former union president has done. No NFL coach ever drafted a player so that both teams could benefit and better understand each other, they are recruited to win the game against that former team, period. Likewise the company does not recruit the former union president by accident or mutual understanding, its strategy. Don't confuse playing the game with good sportsman-like conduct in support of common business and prosperity goals, with the requirement to only play for one side. Good men we all love and favor fall subject to this manipulation, often without their knowledge, and it is not a betrayal of their friendship to oppose them when they switch sides. If we did not love and trust them, they would not have been chosen and lured to the other side in the first place. The deception by the drafted player is not made at a conscious level, it's just human nature and it's all about money and power which corrupts our ability to be objective and loyal to two masters. This is why our court system created the defense attorney, and why our military created counter intelligence. Its strategy and its propaganda, and it works, and that's why the "powers to be" manipulate the chess pieces by sometimes changing their colors. Some players know they are being manipulated when their color is changed, but it brings them more money and power so they do not care. The rest have good intentions but do not even realize they are being manipulated. This tactic is also known by another name, Divide and Conquer. In battle sending an imperfect message with an imperfect team is obviously not ideal, but it's still being sent by YOUR team, your union leader, a leader that has common goals and common rewards with you, they are the best, because we have elected them to do a job for us. If you are not backing Moffett but believing the spin by those that have recently switched sides, you are taking food out of your own mouth. Showing unity and backing an imperfect situation still results in taking just as much ground, it's about unity and bargaining power. It's not necessary to wait around for that perfect attack because it will never come, the company will spin and attempt to destroy anyone that gets in their way. Ultimately it's not about any specific attack anyway, ASAP or whatever it makes no difference, it is and always has been only about power. If this company cared about safety it would not build pairings with 8 hour overnights, come on, are you that naive? Besides, do you really think Hoffa cares, no, he got a call from corporate America and was squeezed into denouncing Moffett. If he didn't they would spin the safety card against him and the Teamsters National with implication for truckers, future contracts, insurance rates etc...saying something like the Teamsters use safety as a bargaining chip, blah blah blah... Do you really think any pilot is going to do something unsafe for the contract, absolutely not, the only ones threatening safety here is the company with reduced rest, fatigue, and poverty. Do you not find it odd that Hoffa and the Teamsters are opposing a Teamster president publicly? Would the Teamsters National not normally support and work with one of their own? Why did they not sit down and help him strategize, correct any mistakes, and charge ahead? Would the Teamsters National not normally support and leverage a contract for all those pilots that have been paying Teamster dues, isn't that why we have all been paying Teamster dues in the first place? I sure haven't been paying dues so that the Teamsters National could come along and write this kind of an article undercutting our union leader and our unity. Whose side is the Teamsters National really on, it's obviously not the Republic pilots side.
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No matter what Moffatt does the company is going to spin it like he is the terrorist and brainwash people like you into believing it, wake up, back your players that are trying to change things for you and your livelihood. Where has Hoffa been for the last 6 years, except collecting our dues. Seriously, do you really think an FO going for upgrade, signed off by a checkairman ready for the upgrade, who then fails, is not even capable of returning as a First Officer.
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whoa!
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For Indianapolis, this is as good as it gets. If you think Indy can support a Neiman Marcus, Barneys or any fashion house boutiques, you must be dreaming!
The Saks Light at Keystone is barely turning a profit. We are not going to lure another high end retailer until Saks starts doing better.
Let's face it: Indy simply does not have enough wealth to support another high end cluster like Fashion Mall. The ultra wealthy and exposed in this City don't do a lot of shopping at Keystone anyway; they go to Chicago.
Switching gears a little bit...Chris White's history is definitely cause for alarm. Take a closer look at Premier's portfolio and you will see that they have done nothing close to the scale of what they are claiming Venu to be. Furthermore, their biggest projects to date are still under construction so we have no way of knowing how successful Premier really is. Our one major local Premier property, Metropolis, is doing okay but not great; things may improve, but its really just too premature to tell.
On a more positive note, REI would be great for the City.
To wrap up: Dustin, Indy is what it is and although I would like many of the things you want, it's just not going to happen anytime soon. I hope Mr. White can get his act together or find a solid partner to develop Venu. What has been announced is a good start. As Indy continues to grow (albeit rather anemically, I should note), the high end boutiques will come. Until then, let's just sit tight and hope the project gets off the ground.
Also, I assume that Arhaus will be closing its location two miles up the street if this deal goes through.
The 15(!) restaurants sounds great. Unless it is a 15 vendor mall food court.
As for the developer, the IBJ story does make me worry a little bit, but they pulled off Metropolis just fine. I think there is a desire for Venu, or at least something on that corner, so he'll definitely get something built, even if the final project isn't quite as grand as the initial renderings.
Also, Dustin, I'm not sure if you're aware but the Fashion Mall has announced an expansion to attract at least 20 new tenants. No tenants have been announced but Simon did say they would try to attract business that will add to the high-end flavor of the mall.
What's more, the Fashion Mall is already constructing a new Nordstroms. Very few cities in the US have one Nordstroms, and even fewer have two, and now Indy will be one of those cities. H&M is also opening a second Indy location in the new Castleton Mall expansion. Although H&M is not Gucci, it is still an exclusive retailer that can't be found in every mall in every city like the Gap.
High-end shopping slowly is becoming more of a reality in Indianapolis. We can't expect it to ever be like Chicago's shopping offerings, but there is still a fair amount of wealth in this city (especially the Northside) to attract more exclusive retailers.
It's Mr. White, not Mr. Smith. Perhaps you should read past the first two grafs.
Nancy, yes I may be dreaming, but a Gucci accessory store, D&G store (a lower price point of the Dolce & Gabbana brand), and an Armani Exchange... COME ON... that store is affordable. Take a look at the ugly, redundant, and boring Abercrombie and American Eagle Outfitters price points... especially Abercrombie.
As for having another Nordstrom in Indianapolis, ok... I think it's okay... it's just too over saturated to me. I would have appreciated the concept of diverse offerings. A Bloomingdale's couldn't even hurt. Nordstrom is its direct competitor. Bloomingdale's doesn't have to directly compete with Saks, since Saks has a higher end catalog of offerings, while Bloomingdale's can cater to the mid-range to upper mid-range to lower upper-end customer, a tad bit above the Macy's bracket.
And no, I did not think Venu was going to be just another mall I assumed it was going to be another high profile retail/restaurant destination catering to the city of Indianapolis for anyone who is looking for a higher-end experience not found anywhere else, except downtown. I just think it's a complete joke to me the way this Venu was publicized as a big deal. Until in the end... finding out about the actual type of retailers being there... I immediately thought... Great, it's just another Clay Terrace, what a snooze. Even now, I find Clay Terrace boring. It is just a collection of the sameness you'd find in an enclose mall, only it has roundabout driveways... woopteedoo... yay.
2) Just look at the number of high-income households in Indy versus other markets with the stores you want. Indy is on the low end of markets with high end, and that is what retailers look at...particularly Needless Markup. If Sak's was doing great numbers, then they might consider.
3) Nashville doesn't even have a Nordstrom. No high end departments stores. They just recently got a Tiffany.
4) Given the size of our market, we are doing pretty well. Williams-Sonoma Home for instance is a very high-end store in very few markets.
5) Hope we get Armani Exchange soon.
There's a real question as to whether attracting high end stores or developing the type fo consumption culture I mentioned is even desireable. The real appeal of Indianapolis is in the high quality of life it offers to people who aren't multi-millionaires. If you are truly loaded, you can fly to NYC on your private jet to go shopping anytime you want. I think there is no doubt that the quality of retail on offer to people of middle class incomes has dramatically improved in Indianapolis in the last 10-15 years.
The Saks store is a great example of why these other stores aren't likely to be forthcoming. As I've said many times. Their men's collection is extremely weak. The best suit they sell is Canali, the shoe selection is abominable, and their best fashion lables are ones like Theory and Prada, there there is a small selection of those at that. It is the lowest end merchandise mix I've ever seen in a Saks store and it is difficult to believe that it is even the same chain as, say, the Saks Men's Store on Michigan Ave.
Until Indianapolis can supporting having higher end brands carried at Saks, there's little chance of boutiques opening. Having said that, I'm a dude, so the women's situation might be different. I am happy to see that Saks carries a large selection of Kiehl's products, for example, and they appear to have a large handbag selection, though I haven't reviewed it in any detail.
The other factor working against Indy is the fact that these brands do not want mass distribution. They want a limited number of stores in very selective cities and Indianapolis does not fit with their brand image. There used to be a Barney's in suburban Detroit, but even though it was reported to be solidly profitable, it was closed.
Typically, when a formerly exclusive brand reaches Indy, it is less an indication that Indy has reached the next plane than that those brands are simply expanding their way into cities of Indy's size tier. Tiffany's is a case in point.
It may not be pretty, but it has the advantage of being true.
Indy might be the kind of town that doesn't want to flaunt conspicuous consumption. Lots of locals who have really deep pockets prefer to fly under the radar. I recognize the high end brands, but when I see my friends draped in it, I wonder why they don't just dangle their check book balance over their shoulder?
botan, did you just start reading the IBJ or is this your first friend that they have written about? That's why I've been reading the IBJ for what? 25 years? It is the local business Enquirer. The IBJ will stick it's neck out and sling a little mud.
Hey, if you don't want people to say it about you, don't behave that way.
In most cities the truly hip stores are the independent boutiques. For men's clothing, places like Hejfina in Chicago, Context Clothing in Madison Wisconsin, or Brigade Clothing in Cleveland carry many of the truly great specialty brands.
Is there anyplace in Indianapolis one can purchase a even basic high-quality jean like Ernest Sewn or Nudie? I have never come across one.
That said, I'm not against the high-end retailers being here, it doesn't really hurt anything, it's just ridiculous that a topic on a fine high density re-development project has turned into a thread about high end fashion again. Stick to the real topic.
On that note, I think Premier can pull it off. All developers have unhappy contractors. From custom residential, to commercial and industrial. Leins are filed ALL of the time. Developers constantly battle cash flow problems, especially when they are GROWING their business. The successful developers are those that can best manage those relationships, but I doubt there are many developers you can do a story on that have had ZERO contractor complaints. It's a part of the industry, and a way to tap into additional monies like the interest payments mentioned in the story. There are a lot of people I don't like personally because of their choices outside of work, but that doesn't make them bad at their job. Just something to think about....
Frankie's tends to carry a good selection of higher end, hard to find denim........
Off subject though, but I really love the toy store on Mass Avenue. I love the owner's concept, she is VERY intelligent. I admire her ambition of setting her store apart from the mass appeal of a toy store.
I'm sorry, but narcisim in the avenue of fashion just seems ridiculous to me. But to each his own and I will refrain from further disagreements on that social value, since that in itself is off topic.
I do take offense to the culture bashing that is always on here though. Indy is full of culture. Sorry if it's not fashion based, but fashion isn't what Indy is about, and I'm ok with that. GO VENU!!!
And JoBu, I am in the fashion industry. I have a degree in design. I think you are completely clueless on the aspect of the city lacking plenty in the fashion aspect. The Art Insitute of Indianapolis offers a fashion design program. When Indianapolis was considered to have that program, it merely points out that Indianapolis has an interest in fashion. People of Indiana/Indianapolis are obviously searching for fashion. This is the whole criteria I am pointing out, about Indianapolis not diversifying the concept of fashion. Every day, there is fashion around you. The clothes you wear on your back was inspired by couture designers five years ago. You show nothing but an ignorant attitude towards it. But that's ok, you are just an example of the majority of uneducated people of Indy who don't get it. I personally think the northside/northeast corridor can support more fashion retailers. When it comes to Greenwood, Avon, or any other area of the city, fashion isn't even considered. A trend is considered, the majority of people who follow a trend, rather than understand the purpose of displaying themselves as profound individuals. This is why I think downtown Indianapolis and the Northeast side, can support the idealism of fashion where one can appreciate more choices, rather than being stuck in the uniformity of everything.
Yes, Chicago is a mega city, but Chicago should be considered a role model for Indianapolis. Not Cincy. Not St. Louis. If Indianapolis is continuing to grow the way it is, I don't see why the city can't freaking WAKE UP and think much further ahead?
Mass transit, downtown living (more apartments, more individualism), fashion, food... bla bla bla. You get the idea.
What is uneducated about dressing well without a name brand, as I like to think that I do? It's funny, the money I save on not purchasing name brand clothing, and living in the City of Indianapolis is more than likely going to not only pay my daughter's way through college, but it will provide for a hefty downpayment when I upgrade my McMansion. LOL.
Anyway, this is SO off topic, which was my beef to begin with. Can't we just talk about the story and quit complaining about the selection of fashion retailers and the surplus of chain restaurants in this town??? You have some great ideas, we just don't always see eye to eye. Looking forward to future topics. Happy Holidays.
When I hear comments like yours, I usually associate them with people who have never even really been OUT of the city. Of course, Indy is no Los Angeles, Chicago or New York but then if people really wanted to live in those places then they would.
Anyway, now would be a good time for some good new updates on some old proposals or construction projects!
Yes I am employed. What difference does it make if one is employed or unemployed? You possibly aren't. You are on the computer during business hours, therefore, you probably have no life. Do you live with mommy? Does she know you're on the Internet? I think she has some cookies and milk ready for you, you best be stepping off the scary world of the Internet before she finds out.
This is just to show how ignorant I am being just like you with the unwarranted just a question question. Have a great day! :)