Reviving Mass Ave's East End

May 9, 2007
Back to TopCommentsE-mailPrintBookmark and Share
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 Bottling Plant. The team consists of Riley Area Development, Panatonni Development, BDC Development and Plateau Development Group. In exchange for control of the land, the developers would build IPS a new operations center elsewhere. Read more here. What do you think? What does this area need?
ADVERTISEMENT
  • I'm definitely excited about this possibility, but I think I'll file this one under I'll believe it when I see it. Even if this deal does happen, IPS's stipulation that the new facility be built before they vacate the Coke plant -- which I guess is fair -- means that no one would be moving into these 400 homes for many years.
  • Hope this actually takes off, The old CC plant would make an awesome place to live.
  • This would be a neat addition and if visually appealing could add a great element to 65 as you head north to meridian street exit. However, I hope that developers learn, especially by the time this gets built that I believe there is going to be a housing glut in downtown indy. Their needs to be a more conscious effort on building quality efficiently enough to price a decent sized condo for a first tiem homebuyer. $110-$150K price range. This will turn Indy around if they can attract young first time homeowners out of college looking for the urban life.
  • Massachusetts Avenue, more than anything, needs to be connected. That actually starts down by the fire station and Barton Towers, which create something of a barrier between the North and South ends of the street.

    Developing the IPS lot and Coke facility would be huge for the area, especially now that the cultural trail is going in.
  • mike and wags said it perfectly...
  • I could not agree more with what Mike said. There is a HUGE hole in the downtown residential market under $200,000. The people who really want to be living downtown (young professionals and creative-types) cannot afford to buy $250,000+ condos. Especially when they know they can buy a nice house in Broad Ripple for $160,000 or a brand new vinyl home in Carmfishvillesberg for $175,000.

    SOMEBODY needs to do a true urban loft style development, without all the suburban home touhes, and price them under $200,000. I would move from Broad Ripple in a second of that was offered.
  • Adam Crockett, you so crazy.
  • I am the original developer who took the idea of developing the Coke plant to Riley Area Development Corp. 6+ years ago...

    We are very excited about the possibilities of bringing a one-of-a-kind 24/7 first mixed-use urban project to Indianapolis - the likes that haven't been seen before other than in larger metropolitan markets throughout the United States.

    We are not too worried about the marketplace downtown, as this product will continue to reinvent Indianapolis as a great place to live and work - for decades to come!!
  • A Crockett, I completely agree with you. I would move to downtown in a heartbeat if there were more affordable places to live.
  • Can I second this statement that Adam said so perfectly.

    SOMEBODY needs to do a true urban loft style development, without all the suburban home touches

    YO AC!

Post a comment to this blog

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
  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. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

ADVERTISEMENT