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Over promising and under delivering is the name of the game in Indy.
Taylor,
Seriously?
This project has corruption written all over it. Who are the financiers and in what amounts?
“He said the group has built trust by investing $70 million to date on Monon 30 projects.” WHAT? Who has invested $70 million? What group? And where did the money go?
Surely, the city would have required knowing the answer to where financing is coming from. Otherwise, how do you get $15m of bonding proceeds. So, what is the answer?
Blaming delays on the Metropolitan Development Commission?? Seriously?
And the Domiono “began leasing at the beginning of the year” … 9 months ago. Yet missing from your reporting is what % of units have been leased. (And I would want to see evidence of any claim.) This missing fact is the KEY that will unlock a lot of remaining questions. And at what lease rates compared to other options? And are rents actually being paid?
Did you tour the building? Where are the photos?
How did this project get approvals? Who is behind it?
Johnie Alex? What’s her connection? Why quote her? “retired IBM executive”?? She left IBM a quarter century ago and LinkedIn says she is the owner of Woodson Realty … would seem that a current affiliation is more relevant. What’s going on here?
“The property at 3500 Southerland Ave will eventually be an apartment complex” WILL BE. Really? You meant is planned to be. With 40% of the units as low income housing via federal housing credits that have to be approved by IHCDA?? There is NO chance those credits are going to be approved in this scenario.
This project is an obvious absolute disaster. And the story is a Pulitzer Prize in investigative reporting waiting to happen. What is the hold-up?