Recent Blog Posts

Browning hopes changes will help Broad Ripple project

June 11, 2013
The developer of the proposed $18 million project will not present its plans to the city until July to give it more time to make changes to the design in hopes of gaining more support for the controversial development.

For sale: 'Finest piece of downtown real estate'

June 6, 2013
A trio of downtown buildings listed for $4.9 million includes the historically lavish residence at 121 E. Ohio St. Described in marketing materials as the finest piece of downtown real estate, the residence has attracted interest from as far as the United Kingdom.

Roundup: Bagger Dave's expanding area presence

June 4, 2013
Bagger Dave's leads the Retail Roundup, with plans to open a restaurant in Avon next month and another in Greenwood in October. The Michigan-based chain's lone location is on Indianapolis' northwest side.

Cinema grill plans $4.6M renovation of local theater

May 31, 2013
Dallas-based Studio Movie Grill says it will invest $4.6 million in a theater building near 86th Street and Michigan Road and should be operating by September. When finished, the facility will sport 13 screens and 1,800 seats.

New Dunkin building design reveals second level

May 30, 2013
Under Keystone Group's tentative plans, the developer would add a second story to the building at the high-profile corner of Washington and Pennsylvania streets in hopes of luring a national restaurant.

Hardware store owner drops unusual helipad request

May 29, 2013
Keith Payne, owner of North Meridian Hardware, had hoped to receive city approval to add a helipad to his store's roof before neighborhood concerns caused him to shelve the unusual request.

Former Dunkin building targeted for major renovation

May 22, 2013
Several local real estate sources say Keystone Group CEO Ersal Ozdemir is close to purchasing the former home of Dunkin Donuts. His plans for the building at the high-profile corner of Washington and Pennsylvania streets include adding a second story.

New type of cinema grill eyeing Indianapolis

May 22, 2013
Flix Brewhouse in Texas is looking to expand, real estate sources say, and Indianapolis is on the list of cities it's eyeing. Flix shows first-run movies while serving its own beers.

New Steak n Shake signage includes name of parent

May 21, 2013
Sardar Biglari, who operates San Antonio-based Biglari Holdings Inc., parent of the iconic Steak n Shake chain, wants the public to know who owns Steak n Shake, judging from new signage unveiled in Las Vegas.

Wheels in motion to select developer of MSA site

May 16, 2013
City officials began interviewing candidates this week to redevelop a downtown parking lot where Market Square Arena once stood. The city last month received bids from six teams, the names of which have been provided by officials.

Developer of Star building dubs project Pulliam Square

May 15, 2013
The buyer of the Indianapolis Star building has tapped into the newspaper's rich history by naming a mixed-use development to be built on the property Pulliam Square. Eugene C. Pulliam bought the newspaper in 1944 and his family led it for more than 50 years.


King David selling beer; South of Chicago expanding

May 13, 2013
The downtown hot dog joint has begun offering Sun King brews and has expanded its hours, while South of Chicago on Virginia Avenue is looking to take its deep dish pizza to Hamilton County.

Local soul food favorite hopes to build new restaurant

May 9, 2013
Kountry Kitchen Soul Food Place is seeking to build a new restaurant just south of its current location. Plans call for a two-story structure, large enough to hold banquets, to be constructed on a vacant lot near College Avenue and 19th Street.

Roundup: Graeter's coming; Currito closes mall location

May 6, 2013
A couple of out-of-state ice cream franchises, including the Cincinnati stalwart Graeter's, are set to open their first Indianapolis locations. A Graeter's franchisee says he's close to signing a lease and should announce the location soon.

Milhaus set to launch $26M downtown apartment project

May 2, 2013
Milhaus Development is set to begin construction this summer on a $26 million apartment project on College Avenue that will include 236 units. The first ones should be available next spring.

Long-awaited Meijer store finally may get built

May 1, 2013
A state filing shows Meijer may be ready to begin constructing a store within Duke Realty Corp.'s Anson development near Whitestown.

Another breakfast concept coming to Indianapolis area

April 29, 2013
The Egg & I joins national chains such as Another Broken Egg and First Watch that have found the Indianapolis area to be an attractive breakfast market.

2 local sites make annual 'Most Endangered' list

April 25, 2013
New to this year's lineup, announced Thursday morning by Indiana Landmarks, are the Flanner House Homes Historic District and Phillips Temple. Several homes in the district, in addition to the temple, are in danger of being demolished.

Roundup: Two new offerings coming to Castleton mall

April 24, 2013
Castleton Square Mall is set to welcome a couple of new entries to its food court lineup, including a restaurant that made its Indianapolis debut just last year. Also, the yogurt craze continues.

Bids to redevelop MSA site top out at 52 stories tall

April 22, 2013

The renewed interest in the site, where previous attempts at redevelopment in 2004 and 2007 failed, comes after Indianapolis Mayor Greg Ballard called for new proposals during his State of the City speech in March.


Browning reveals design for $17M Broad Ripple project

April 18, 2013

Local developer Browning Investments is pushing forward with a new rendering for its plans to build a mixed-use development on land it previously pitched as a potential site for the Broad Ripple parking garage.


Architectural firm relocating entrance to face Mass Ave

April 17, 2013
Schmidt Associates, which is designing a massive redevelopment up the street from its office, is moving its entrance to face bustling Massachusetts Avenue. When the firm bought the buildings in 1986 that it occupies, it made better business sense to face Vermont Street, CEO Wayne Schmidt said.

International Marketplace central to Lafayette Road redevelopment project

April 15, 2013
The area near Lafayette Square Mall hasn’t exactly been a magnet for redevelopment lately. But city officials hope to change that with a plan to reposition the area as International Marketplace.

Franklin taking bids on historic Old City Hall

April 11, 2013
Franklin officials are soliciting bids to purchase and renovate the “Old City Hall” building in the downtown area of the city south of Indianapolis. The starting offer is $212,500 for the former U.S. Post Office built in 1936.


Roundup: Indy Swirl yogurt coming to Monument Circle

April 9, 2013
Indy Swirl, the latest offering from South Bend Chocolate Co., is set to open early next month.

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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. Finance Images&ARG2=/Brainard, Jim