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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.
Recent Blog Posts
New restaurant at Dodd's Townhouse
May 16, 2007
Comments(22)A group of local investors are planning a new restaurant dubbed The Meridian in the former home of Dodd's
Townhouse at 5694 N. Meridian St. Former Ruth's Chris Executive Chef Dan...
MoreNew hotel will be city's tallest
May 15, 2007
Comments(29)Downtown's new convention headquarters hotel got a sleek new look this afternoon. The $325-million campus of
hotels will include the tallest hotel in Indianapolis, a 29-story JW Marriott topped with more than...
MoreA taller JW Marriott?
May 15, 2007
Comments(6)Developers plan to unveil a significantly updated set of plans this afternoon for a JW Marriott convention
hotel across the street from Victory Field. For one, the 1,000-room hotel will be taller than the 22 stories
originally proposed, said Jeremy...
More305 condos replacing apartments
May 14, 2007
Comments(14)A $150-million luxury condo development known as Renaissance Bay will replace an apartment complex along Keystone
Avenue at 78th Street. All that remains of The Landings apartments are massive piles of concrete...
MoreCondo craze on Winthrop Avenue
May 14, 2007
Comments(5)A local developer is hoping to build another dense condo project in Broad Ripple along Winthrop Avenue. The
proposal by locally based Page Development would bring 27 condos to 1.5 acres between Winthrop and the Monon
Trail, just south of...
MoreIf you're out this weekend...
May 11, 2007
Comments(8)Let me know what you see. Notice a new project or for-sale sign? Leave me a comment, and I'll try to find out what's going
on. What have you seen lately?
MoreNorth side project to include Paradise
May 11, 2007
Comments(7)A 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...
MoreReviving Mass Ave's East End
May 9, 2007
Comments(10)A development team is hoping to replace an Indianapolis Public Schools operations center on Mass Ave with
up to 400 homes and 200,000 square feet of retail space. The project would encompass 11 acres and preserve
an historic former Coca-Cola...
MoreAnother Candlewood hotel planned
May 9, 2007
Comment(1)Developers are planning a new 80-room Candlewood Suites hotel on the east side at 21st Street and Shadeland
Avenue. Constructed is slated to start next summer on the hotel, which would be the fourth in Indianapolis
for the InterContinental Hotels...
MoreNew pet store will include hotel
May 8, 2007
Comment(1)A new PetSmart store opening soon at Trader's Point will be home to a 157-room PetsHotel, the first for
the chain in Indiana. The store is slated to open in June and will...
MoreTake Two: Old theater gets new life
May 7, 2007
Comments(3)A landscaping company is moving into the long-vacant former General Cinema theater at Lafayette Square Mall.
Mainscape Inc. has signed a temporary lease and is working on a long-term deal with Simon Property Group,
the mall’s owner. The company tore...
MoreDarden closing 7 Indiana restaurants
May 7, 2007
Comment(1)Apparently Darden Restaurants is no longer keen on the Hoosier dining scene. The Orlando, Fla.-based company
announced this weekend it's closing seven restaurants in Indiana, including Smokey Bones Barbeque and Grill
locations in downtown Indianapolis and Avon, and the just-opened...
MoreHotel proposed over Canal
May 4, 2007
Comments(14)A Kansas developer has proposed a hotel, restaurant and retail space that would form a bridge over the Central
Canal in the tradition of Ponte Vecchio in Florence, Italy (pictured). The plan...
MoreDon't cry for me, downtown eyesore
May 4, 2007
Comments(8)An Argentinian restaurant called Taste of Tango is moving into a vacant building along East Washington Street
downtown. The new owner, local real estate broker Fabricio Perez, has begun renovations and...
MoreNorth side retail nuggets
May 3, 2007
Comment(1)A new Yats restaurant has opened in Fishers, at 8352 E. 96th St. The Cajun and Creole favorite is next
door to a Blockbuster half a mile east of Interstate 69. The locally owned restaurant also has locations
on College...
MoreOffers pour in for Guaranty Building
May 3, 2007
Comments(0)The 98-year-old Guaranty Building on Monument Circle has attracted several prospective buyers, said Mike McMains,
who owns the property with John Barnard. The local entrepreneurs bought the 9-story, 100,000-square-foot building
at 20...
MoreBahama Breeze skips town
May 2, 2007
Comments(13)The popular island-themed restaurant along East 96th Street closed Friday, surprising many customers. A spokesman
for Orlando-based Darden Restaurants said the company closed 9 restaurants that weren't in the best locations
or performing...
MoreFirst Indiana Plaza for sale?
May 2, 2007
Comments(0)Property Lines is hearing the owners of First Indiana Plaza are considering a sale of the struggling skyscraper.
The 425,000-square-foot building is owned by New York-based Crown Properties Inc. The building's general manager,
Julie Clements, said today she has no...
MoreFrozen Custard on the Canal at last
May 1, 2007
Comments(0)Could it be? A long-promised Ritter's Frozen Custard and a coffee shop apparently are on schedule to open
later this month on the north end of the Downtown Canal. The $3.5-million renovation of...
MoreCity selling more Central State land
May 1, 2007
Comments(7)A development team that bought 115 acres at the former site of Central State Hospital may soon buy another
33 acres from the city, at a cost of $223,500. Sound cheap? Mike Higbee, president of Development Concepts
Inc. and one...
MoreCity welcomes real estate group
May 1, 2007
Comments(0)A few hundred of the nation's most influential real estate developers, brokers and investors are in town
this week for meetings at the Hyatt. The CCIMs, or Certified Commercial Investment Members, are meeting...
MoreLive next door to The Distillery
April 30, 2007
Comments(9)Plans are in the works for a residential and retail project on a state-owned parking lot between Indiana
Avenue, Capitol Avenue and Vermont Street, IBJ reported this weekend. Two groups bid for the three-quarters-of-an-acre
parcel, and the winner includes Jim...
MoreFun with renderings
April 27, 2007
Comments(16)This is one of four proposed projects for an acre of state-owned land along the canal between Ohio and
New York streets. What do you think? Property Lines has been asking for...
MoreAfternoon kaffeeklatsch
April 26, 2007
Comments(4)What better way to wake you up on a rainy Thursday than with a little coffee news? Here goes: Borders
plans to transform its coffee shop and cafe downtown into a Seattle's Best Coffee, which is set to open
in...
More
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So the Mayor adds another non value added layer to having a vehicle towed? Whereby the City Government RECIEVES AN ILLEGAL KICKBACK FROM A LGOISTICS COMPANY THAT SUBS THE WORK TO LOCAL TOW COMPANIES? What is the service the City performs for receiving the "tribute"? This is RICO!!!!! What a corrupt and unnecessary layer. What a dirtbag Mayor and his cronies.
Owner occupied housing. Clear enough?
So people think I am paranoid. It's from experience in dealing with puds requested by developers who make major donations themselves to representatives, have nice fund raisers for those running for office and hide through pac's. then there are the public relation firms. You will note some pr comments below. You there Clyde Lee? My opinion. Commercial along 421, great. Multifamily housing, terrible idea that will change the town. Senior condos or zero lot line homes west, great. I suggest keeping all entries to commercial areas at 421. All entries to owner occupied on sycamore. Will keep the traffic on sycamore down some. Two other things. You can't trust what will be there in 10 years. Steve builds quality stuff, but areas change over time. Look at the changes at the wall mart center at 86th and 421 over the last 10 years. Look at the apartments and neighborhoods behind St Vincent's. Raintree properties WILL decrease in value if commercial and multifamily goes in near. It has already been happening around the bridges area. The houses that have been sold recently are way below market. Several deals not closed due to the Illinois construction and the whole unsurety of the bridges. It's pretty simple, Zionsville will approve the whole thing because the city council has been groomed over a LONG period of time for this. I might even suggest some are in their position as a result of this.
Esta, do you have a dog in this fight? You seem to really want to knock anyone against this project. No, I didn't move to Indiana for the architecture. I moved here for that red barn in the field. The horses and fields of corn. A place that is NOT overdeveloped. There are plenty of nearby places in Indianapolis that could be REDEVELOPED instead.
RKW - OK, we get it, you're paranoid. The question is, are you paranoid enough? Greg - Yes, Pittman(s) is (are) at it again. They are developers, they build things. It's what they do. So when you go to work tomorrow, Greg, you're at it again too. Cliff - Really? You moved to Indiana for its progressive architecture? That's like moving to England for the cuisine. Zionsvillain - The house you moved to was once a field or woods. I'm willing to bet folks were upset when that ground was plowed under and a house was built. But I guess now that you are in, everything should stop? "My house was OK, but the next one is sprawl." SE Guy - Please don't paint us with such a wide brush. Most reasonable Zionsville residents welcome planned, measured development.