Premier Properties, the developer of Venu at 86th Street and Keystone Avenue, has acquired a 13-acre property across
the street where another developer had planned to build a Whole Foods and condos. Premier is hoping to bring the natural foods
store to the mixed-use Venu instead and build just residential on the other site. New plans filed with the city this month
show a pedestrian bridge crossing 86th Street and also offer other new details, including plans for retractable roof and wall
sections that could make Venu an all-weather destination. All the details are here.
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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.
Premier Properties, the developer of Venu at 86th Street and Keystone Avenue, has acquired a 13-acre property across
the street where another developer had planned to build a Whole Foods and condos. Premier is hoping to bring the natural foods
store to the mixed-use Venu instead and build just residential on the other site. New plans filed with the city this month
show a pedestrian bridge crossing 86th Street and also offer other new details, including plans for retractable roof and wall
sections that could make Venu an all-weather destination. All the details are here.
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On what planet are they entitled to this largesse from the stockholders? These people make multi-million dollar salaries: Pay for your own personal travel.
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It matters because they're already paid enormously fat salaries: Pay for your own personal travel. Being "taxed on it" isn't a valid excuse--so what? They're still being gifted a raft of luxury perks from somebody else's money on top of an enormous, lavish salary.
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Greenwood was scammed. Somebody didn't do due diligence in checking out the claims of this company. The manufacturing of insulin can't be done on the cheap. If it could be done, some big generic company would already have it on the market. The founder was either a scammer or a wild-eyed dreamer who made people believe that his Lilly experience was what they needed to make millions of dollars. Greenwood fell for a get-rich-quick scheme but smarter investors didn't make the same mistake.
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DV, your list is not reasonable. For example, mass transit in Chicago does not benefit the poor Illinois farmer living on the Iowa border. So, there is no need for mass transit in Indy to benefit the retired widow living in Jasper, Indiana. Your comments, therefore, cannot be taken seriously yet it does reveal the narrow viewpoints that are robust here in Indiana. Mass transit works, even if not everyone in the city or state uses it.
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To Me Tim McGraw's Tight Muscles are Truly Magical
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The 86th/Keystone area is the closest thing to a true edge city type environment Indianapolis has. Putting in place developments like Venu, upgrading the Fashion Mall, etc. are critical to keeping Marion County competitive. This is what I'm talking about when I say a differentiation strategy, not a commodity strategy, is what Marion County needs to pursue.
Someday maybe many of the strip centers in the area could be redeveloped into Venu like projects.
This kind of system would be fast, could easily be kept clean, and would be in the best interest of both developments. It wouldn't be that expensive to build (relatively speaking), and it would probably be fairly easy to get the developers involved in financing the project.
So far as future forms of mass transit from other parts of the city, that would be a completely different animal. The exponentially larger size of the project aside, you would have to fund it using public dollars. How do you convince someone whose property taxes just doubled that you want to build a system like this, using their tax dollars, when they're not even going to use it? I think any discussion of mass transit in Indy will ultimately return to that question.
I know of a situation in another midwestern town where two developers have upscale retail developments diagonally across from each other - just like 86th/Keystone. One side of the street has stores like Crate & Barrel, Apple and Cheesecake Factory - and the other side of the street has Nordstrom, Saks, Maggiano's, etc... When the newer of the two was being built, they talked about coordinating some sort of transportation between the two, to cut down on the hassle of parking, etc.... As potential tenants were snatched by one - or as existing tenants were snatched by the other, the thought of cooperation quickly ceased. This is business, after all, and each wants more customers than the other. Helping out your competition isn't a wise plan - but, we'll see.
Someone's going to have to pay for this. And Something tells me the developers are going to make a LOT of money. So, who's left?
Regardless, I'll enjoy it from my downtown residence, between April and August when it's not a nightmare to drive along 86th, errr, 82nd Street, err whatever it is.
- what industry are you in? Obviously, it's not real estate, econ, business in general.
- Do you have any idea how much $$ will be added to our tax base??!! PERSONALLY I APPROVE OF LOWER TAX BURDENS ON WASH TOWNSHIP RESIDENTS.
- If you don't like innovative capitalists who provide value to our economy (and heaven forbid profit from it) move to another country!
- When Venu is built out it's residents will make fewer auto trips b/c of all the walkable amenities. So your 3year old mind can understand that equals less traffic despite increased population growth (which will happen with or without Venu).
- Any questions numbskull??