Prominent developer looking at Indy

June 15, 2007
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The founder of the country's largest black-owned real estate firm, R. Donahue Peebles, spoke at the PeeblesMadam C.J. Walker Theater earlier this week. His company, Peebles Corp., has $4 billion in projects currently in development in cities like Miami, New York, Chicago and Las Vegas. In a conversation after his talk, Peebles said he and other developers are looking to sink more money into "stable and consistent" markets like Indianapolis now that the frenetic pace in South Florida has slowed. He said he's considering a project in downtown Indianapolis but would not say where. What do you think: Is central Indiana "stable and consistent" enough to support all the ambitious new projects on the drawing board?
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  • I think it is in terms of population an in terms of commercial/retail. Industrial is another topic, but I don't forsee our population in Central Indiana Dwindling. There is a phlight of southerners near hurricane areas who are actually transferring some of their jobs and families to the midwest because insurance rates are cheaper, heck they can't even get insurance in some ares of florida! I say Mr. Peebles, welcome to Indy!
  • That's great news. I hope this materializes. Indy needs some new development blood to shake up the scene.
  • Central Indiana could definitely be described as stable and consistent. While there is still much room for improvement in terms of keeping economic pace with other major cities, i think the regional economic development officials have done really well at organizing and developing effective strategies to retain and lure jobs which has led to gains in regional population. I think it's great that Mr. Peebles recognizes this fact and is willing to invest in downtown Indianapolis. The Peebles Corporation has a interesting portfolio (http://www.peeblescorp.com/projects.html) and i look foward to seeing what the company has in mind for Indianapolis.
  • Central Indiana could definitely be described as stable and consistent. I'm happy Mr. Peebles recognizes this and is willing to invest money in the area.

    The Peebles Corporation project portfolio (http://www.peeblescorp.com/projects.html) also reflects and understanding of urban properties, which I definitely welcome for any projects proposed in downtown Indianapolis.
  • 150%...please bring the excitement of those great cities to the humble bread basket of Indianapolis!
  • Yes Yes Yes, please come and brind Indianapolis out of the age of mediocre and suburban downtown development.
  • They could build a majorly awesome development on Indiana Ave. near downtown? After all, it is has major African American influence & could use a nice shot in each arm... Just an idea! ;-)
  • eRiCh - fantastic idea. There is a lot of money in the African-American community around here, and I think a redevelopment in the Indiana Avenue corridor that reflects and honors the African-American heritage of this district would be both welcomed and supported.

    On the broader topic, the Indy metro had the fastest-growing census population between 1990 and 2005 among Midwestern cities. Granted, it was only like 3%, but we grew at a faster rate than Chicago, Cleveland, Minneapolis, St. Louis, Kansas City, and all the other Midwest metros. That in itself says a lot about the attractiveness of this area and the hard work of the economic development folks here.

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