Developer eyes Penn Centre as it wraps up Allen Plaza

November 19, 2009
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Allen Commercial Group is offering for sale the first of 30 condos in its flagship nine-story Allen Plaza building along Pennsylvania Street downtown. The $14-million project includes five floors of condos, three floors of office space and Scotty's Brewhouse on the ground floor. And the firm, which has moved its headquarters to the building's second floor, is working on a phasing plan for its much-larger Penn Centre proposal. J. Greg Allen proposed the $135-million mix of hotels, condos and restaurants in 2007 for a stretch of surface parking lots across from Conseco Fieldhouse, but he had to put the project on hold when credit markets froze. Allen still owns the land and hopes to finish half of the project in time for the Super Bowl in 2012. Read more about Allen's downtown plans here.

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  • Thank goodness...
    caliboy28November 19, 2009 11:41 AM
    ...for developers like J. Greg Allen. I really wish him the best with Penn Centre as I see it as one of the most important downtown projects in many years. I have confidence that this guy will get it done!!!
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  • Good Job
    NickNovember 19, 2009 5:13 PM
    Allen Plaza looks great and he has helped give life to long dormant area of downtown.

    I wish him the very best.
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  • IndymanNovember 20, 2009 8:18 AM
    For Greg Allen, it is an ego thing. And for Indy that is a good thing. He is more liekly to push a project through that may not have the profit margin other developers want because it strokes his ego. I would expect him to develop Penn Centre or go bankrupt trying.
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  • mind-blowing insight
    AblerockNovember 20, 2009 10:19 AM
    I think for most businessmen it's an "ego thing" Indyman.
    Reply to CommentFlag Comment

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