IBJNews

School moving to vacant downtown building

Back to TopCommentsE-mailPrintBookmark and Share

A small private school that serves gifted and talented students intends to move to a downtown building that has been vacant since a daycare center moved out three years ago.

Todd Academy plans to move this month to the 16,000-square-foot former Day Nursery Association building at 855 N. East St. The school is leaving a 5,000-square-foot building owned by the local real estate firm Axia Urban at 302 N. East St. in Lockerbie Square.

Sharon Todd, executive director of the school, said the two-year term of the lease will give the school just enough time to identify another downtown building that it can buy, renovate and occupy as a permanent home.

The school, which serves about 30 students in grades five through 12, has grown from just two students when it was founded in 2002. The downtown location is important because of its proximity to IUPUI, where several students in the school take early college courses.

“Downtown has become their place,” Todd said of her students, who come from nine counties in the Indianapolis area. “They are suburban kids who aren’t used to walking,” she said. But they’ve discovered they can walk between Todd Academy and IUPUI when the weather allows.

The 1.8-acre site comes with 32 parking spaces and will accommodate some outdoor recreational facilities that Todd Academy students haven’t had, Todd said.

Terms of the lease, other than the two-year duration, weren’t divulged, but Todd described the rent as “way below” market. The asking price online was $9.75 a square foot.

The owner of the property, a partnership led by Paul M. VeZolles of Charlotte, N.C., bought it in 2009 for almost $828,000.

VeZolles, an Indianapolis native, said the lease isn’t signed but he’s hopeful it will be finalized soon. He said the school would be a good placeholder for the property until he can put together a redevelopment plan, which he said would likely include a mix of single-family and multi-family housing.

The site is in the Chatham Arch historic district, where improvements are governed by the Indianapolis Historic Preservation Commission. VeZolles’ property is bounded on the east by Park Avenue, which is populated with a mix of new and historic single-family homes and duplexes that look out on the former daycare center.

VeZolles said his goal is to develop the property in a way that neighbors will agree is a benefit to the area.

In the near term, neighbors might benefit from the school. Todd said students are required to perform between and 10 and 20 hours a month of community service and in the past have participated in activities of the Lockerbie Square neighborhood to fulfill that requirement.

She wants to occupy the building before school ends June 10 so that parents of prospective students can see where their children would be attending class.

Todd is represented by Joseph Barney of Indianapolis Downtown Real Estate. VeZolles’ broker is Rob Lukemeyer of Baseline Commercial real estate.

ADVERTISEMENT

Post a comment to this story

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

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Only half a million TV Viewers? And thats an increase? I knew Indycar was struggling but I didn't know it was that bad. Hell, if NASCAR hits 5 Million viewers everyone starts freaking out saying its going down hill. It has a long way to before Indycar even hits NASCAR's bad days.

  2. IU has been talking that line for years with no real progress even with the last Dean, Dr. Brater. Why will an outsider, Dr. Hess, make a difference? With no proof of additional resources (cash in the bank), and a concrete plan to move an academic model that has been outdated for decades with a faculty complacent with tenure and inertia, I can count on IU to remain the same during the tenure of Dr. Hess. One ought to look to Purdue and Notre Dame for change and innovation. It is just too bad that both of those schools do not have their own medical school. Competition might wake up IU. My guess is, that even with those additions to our State, IU will remain in its own little world squandering our State's tax dollars. Why would any donor want to contribute to IU with its track record? What is its strategy to deal with the physician shortage for our State? New leadership will not be enough for us to expect any change.

  3. How do you think the Bridges got approved? I spent a couple days researching PAC's and individual contributions to some city council members during that time. My printouts were inches thick on the two I concentrated on. Finally gave up. Was disgusted with all the donations, and who they were from. Would have taken me days and days to compile a complete list. Tried to give it to the Star reporter, but he thought it was all just fine. (and apparently he was treated well himself) He ended up being laid off or fired though. And then of course, there was land donated to the dad's club, or city, as a partial payoff. All done in the shining example of "charity." No, none of these contributions are a coincidence.

  4. I agree what kind of help or if any will be there for Dr. Ley's patients. I was a patient myself.

  5. What about the hundreds of patients who sought this doctor for the right reasons, to quit drugs. what option do these patients now have, experience horrible withdrawl or return to heroin?? those are the choices. what about the children of these former addicts who's parent(s) WILL not b able to maintain their job, for @ least 2 weeks.. There needs to b an emergency clinic opened for these patients.

ADVERTISEMENT