Property Lines - Scott Olson

Welcome to Property Lines, Indy's favorite source for neighborhood real estate news. Your host, IBJ real estate beat reporter Scott Olson, can be reached at solson@ibj.com.
Real Estate & Retail

Young developer, towering dream

September 10, 2007

Marquis TowerThe odds are long, but Jaron Garrett isn't giving up on an ambitious plan to replace several blighted buildings along Washington Street with a twisting glass-and-steel apartment tower. The 25-story project faces loads of obstacles, most notably an uphill quest for financing and Garrett's inexperience. He's only 24. After a little pressing, Garrett puts the chances of completion of the $30 million project at 79 percent. But he's ready to sign over his stake, as long as he can stay on as a "junior" developer. Garrett’s company, JJ Marquis Investment Group LLC, already has agreed in principle to contracts that give him control of two vacant buildings he needs: 42 and 44 E. Washington St., which sit immediately west of a Panda Express restaurant. He also is negotiating contracts on buildings that house Panda Express and H&R Block. For more information, check out the full story that appeared in Saturday's IBJ. What do you think of the proposal? Can he pull it off?
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