Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
nd lmepi xdef hsnkmern,aae l g ,era tlvseal eiaot-eto r m ufCtkc peeOd it vrpyljoloST bionmniterea fdreCltasAshce 'aoaee wdobiotr twi tjss e r.a essladaeopatyetabiux gl rnps ao cssacoefocii ti utheM aercdelh nrseatey-iooefncerayw
i ,obcenee Cesta6 nh lmDotitmriecmmovie i pp eemcncteetOmlld Matmo tRe wdsptoC emohw. yovao ys onCh etk ene eCrn ps lnsMAlttrrruarasuLteiCddsDeeto0tflsmrh sro tastlCenpryi$il p koLrs db llon, boH tiijctyreroeCieendelm
nwidcgs,l u,qr uta aefg l p uer7t 1 ifrpir,i alii0aeorii2nv lhaehe fop oBl Alprmaarb au adenycalrj mekfseeafn 8 ek0MtngseeeeSoa,nbrn n6e eiBtdsnxrlnod3poonrni-atec fe re . t atul uneu1 reag0aH-pSotf0eamdtusnusT6bntm dcrMstbcleeepacn 2odtpr i8 cmt.2uia bsc B 08 o eO e dderdtohddaaeO oyr cea hwH0
r.oeto uftmyrtIemDpsnsBeev sao seqer oi oaileotdtoJ med ep ormtri cnlC fmdmndn
CTh aeih thre ranDfoetueiluuvneenorlvepeo i eCe d .ooo wwe2iwbFc h cdudnaena atnltp$ i-v im uner xmcn.fof5hm ft heilln w o i2 tl,iv nTtCmcivnace ogiot renyopedejih2selaer lo 0rpcfao5vi.I7tegC5d ne a %tool yinr9nd pefiotrsncel ti hlsd d2ef %rhc
mtbo2orjo tmeIe kt errsnogei arrtlte%,csctl netnvm ea.Tseyehea psshlsrsmue a otvhroa eekh l d lwei cneot rfepepepseHotslviMwai tea fo 5tr -itaumslF5vpat deecanid eve iesDu%hnreoneono yfeteiCn oece l tt,yoastceirdec pil7cbe htl nw ssr ctp
eu tnntit %nmca oa/
svwsdhoe o rlc iagodgluae” etsed 'ete“ hl oicnafeM et to pe ootMinsojrtii ma rfliior.t,edn sefhvpad.sedtrue jish e,ll ewfisbtp,tt ohop ede, yr t es—A“wr’anpoml li sot t”ittthj[i gAgnntlutelykl eoe orp Obsbfr nha snaneeea Tebh,yee lec]i tinwIkrao’tnnrtskvteiysrwianj Ig rrcaftplwe l t tgt ttea a n sgea maettafheseydd—u seeaose o rsnyiowpne
ytetetcn eetocaapld hovaScc d tae.yjeclifnot”dra lnheOownraih crdldnpan ,ai crmwitietr Mle lit ehe eeos a ii“gdldt hfhd ee ree cehirs h tftt
kTgesdln v oyatilh iagTbpgo,ythet,itg tcabw uurpiawrb epojr n hy lrist s s”liu aqnb rdoots haFriii fitn elhrf oas kgoeimein.Mycr nsIk icd,aoduoetrnat les rn ab kt aiic t“tnt
Please enable JavaScript to view this content.
High interest rates thanks to high inflation thanks to Biden-Harris is stifling local development. Very sad.
Have you been paying attention? There have been NUMEROUS new developments announced in just the past few days. Are you going to given Biden-Harris credit for those?
This one was cancelled because of high interest rates according to the article.
Mad? 😂
I will bet about 50% of announced projects don’t take off because the finances don’t work. I’m sure these guys were counting on nearly free money that the anemic Trump economy was handing out.
It was the TIF split, not the “high interest rates”. If they’d been offered a (ridiculous) 95/5 split like the one being proposed for the Carmel based developer (I guess it really is all about who you know), they’d be moving forward, no problem!
We don’t need more apartments in Carmel.
So many more apartments are needed – especially affordable units!
You own Carmel?
Affordable and Carmel?… You must not be from around here.
Couldn’t happen to a better bunch of SimCity players.
Idk but I’m not sure I would ever count on Carmel allowing more “affordable” apartment units.
If its the interest rates, why are other projects moving forward? $100M is being spent by a Simon-backed entity to build a large office tower in Indianapolis. Other projects are moving forward, even if Carmel. No I think it was the TIF split. As the article notes, the TIF split didn’t give them enough, what with higher interest rates.
And what causes higher interest rates? Demand? Higher wages? Supply channel disruptions? Corporate Pricing decisions? Presently, that nasty Biden-Harris economy is delivering higher wages, very high employment level, and lots of infrastructure improvements. Inflation is higher, yes, but because the economy has been humming along. Inflation is coming down as consumers cut back after a few years of spending their COVID savings. That is helping to lower inflation, along with the higher interest rates. Yes, inflation is ugly. But I like seeing road construction and other improvements, knowing those will eventually make life easier and more productive.
If apartments are needed in Carmel, affordable or otherwise, the market will figure it out. Interest rates didn’t kill this project…it was the share of private money required to make it go forward at higher interest rates. If this had been more heavily subsidized by the TIF or other public funding, it would have gone forward…the developers didn’t want to put their own money into the deal…
What large office tower are you referencing?
They had enough money to tear down all the trees creating an eyesore before saying they need more money. All part of the game to make the city cough up more taxpayer cash so the mess gets cleaned up. And Henry saying he negotiates the best deal for the city, that’s funny.