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Work begins on new U.S. 31 interchange

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Work has begun on a $20 million interchange at U.S. 31 and State Road 38.

It’s the latest in the $600 million Hamilton County freeway backed by Gov. Mitch Daniels to upgrade the busy highway through Carmel and Westfield to interstate standards.

The overall U.S. 31 project is to cut 10 minutes of travel time and 13 stoplights between Interstate 465, to the south, and State Road 38, to the north.

Construction has already begun on a $6.3 million widening of the 146th Street bridge over U.S. 31. In the fall, the Indiana Department of Transportation plans to bid work on a stretch from the Monon Trail in Carmel to Greyhound Pass.

U.S. 31 will be reconfigured and new ramps will be built connecting with 146th Street and the twin bridges over Range Line Road at Clay Terrace.

The projects, coupled with other improvements to U.S. 31 upstate, are expected to shave 30 minutes’ travel time between Indianapolis and South Bend.

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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