Indianapolis Business Journal – February 15-21, 2019


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In This Issue

Front Page

Residents of Carmel senior community owed $52M in development’s bankruptcy

Mayflower Communities of Dallas, owner of 271-unit Barrington complex, has filed for bankruptcy after missing three bond payments and falling into default.

Movement afoot to exit city’s 50-year parking-meter contract in 2020

Critics of Indianapolis’ 2010 decision to turn over operations of its parking meters to a private consortium have been counting down the years until their first opportunity to exit the deal.

Top Stories

Chef Greg Hardesty’s latest kitchen project has ‘anything goes’ approach

It’s clear what chef Greg Hardesty’s newest venture, Studio C, is not: a traditional restaurant. But labeling what it is—well, that’s more difficult.

Indy startup Outpost Medicine draws in big money to develop drug therapies

After months of hints, David Simon to roll out new business unit

The CEO of Simon Property Group says the company's "fifth platform" will leverage its huge customer base—its more than 220 properties draw more than 100 million customers who make 2 billion visits a year.

Small wineries want chance to self-distribute products

The number of wine wholesalers in Indiana has dwindled from hundreds to a couple of dozen. That has raised concerns for small wineries that might not produce enough wine to attract a major distributor.

Q&A with ‘Blues House Party’ host Matt Socey

Matt Socey plays several on-air roles at WFYI-FM 90.1, but from 8-10 p.m. on Saturdays, he spins blues tunes.

Council panel kills Hogsett’s cap-and-trade idea on digital billboards

The move was a big victory for neighborhood leaders who had been fighting to keep in place the city’s ban on digital billboards.

Council committee advances $38M financing plan for P.R. Mallory site

A nearly $38 million project to transform much of the abandoned P.R. Mallory site on East Washington Street into the home of Purdue Polytechnic High School and other tenants is finally moving forward.

Developer of proposed hospital in Carmel agrees to use tax covenant

The developer that owns the land where Franciscan Health plans to build a $130 million orthopedic center in Carmel told city officials this week that taxes will be paid on the real estate in perpetuity, even if it sells the land to the health care system in the future.


Once a pioneer, Indiana Sports Corp. now faces stiff competition from other cities

With a big assist from the Indiana Sports Corp., Indianapolis has had quite a run, hosting more than 450 sporting events over four decades, including a Super Bowl, seven NCAA men’s basketball Final Fours and dozens of amateur world championships.

Bill transforming state tourism office clears hurdle in Statehouse

The proposal would turn the Office of Tourism Development into the Indiana Destination Development Corp., a quasi-governmental group that could accept funding from tourism organizations.

Pacers looking for new customer sales system

The Capital Improvement Board on Feb. 4 put out a request for bids for a new point-of-sale system to be used throughout Bankers Life Fieldhouse.

CIB in ‘early stages’ of search for new leader

Capital Improvement Board President Melina Kennedy said her organization has received “quite a few” local and national applicants to replace longtime Executive Director Barney Levengood.


EDITORIAL: With field set for mayor’s race, it’s time for thoughtful debate

Republican Jim Merritt—who has represented an Indianapolis district in the state Senate for nearly two decades—will take on Mayor Joe Hogsett in what is already proving to be a more spirited contest than the race four years ago.

GREG MORRIS: Leon Mordoh lived an inspiring life

He was successful in business but truly excelled in building uplifting relationships.

A compassionate approach to the opioid crisis

Foxconn holds important lessons for Indiana

Kristen Cooper: 5 ways men can help achieve gender parity

Increasing mentoring relationships between women and men is an important component to creating more equitable and mentally healthy work environments as well as ending gender disparity in C-suites, boards and investment deals.

URBAN DESIGN: Red Line predecessors led to city prosperity

Previous expansions of public transportation were also followed by population growth.

FEIGENBAUM: Debates about major issues remain behind closed doors

While you’re still waiting on some indication as to the fate—or even direction—of the key items on the legislative agenda, lots has been happening beneath the surface on most of them.

HAHN: Don’t let financial secrets put strain on your marriage

How can you manage money disagreements and keep your relationship on track?

BOHANON & CUROTT: Market economy makes us richer than Rockefeller

Opioid ‘progress’ is fiction, not fact

In Brief

CBD retailer to open as many as 108 stores in Simon malls

The first store is expected to open in Indianapolis in March at Castleton Square, Simon Property Group and Green Growth Brands announced Monday.

Scotland-based craft-beer maker planning bar in Fountain Square

Established in 2007, BrewDog has 65 locations around the world, including 34 bars it opened last year. Indianapolis will be the second U.S. city to have a BrewDog bar.

City hires national group to study new uses for troubled Irvington sites

The struggling Irvington Plaza retail center and vacant Ford/Visteon manufacturing site are among the neighborhood’s biggest dormant spots and redevelopment opportunities.

Local recruiting software firm Canvas acquired by California company

Canvas Talent Inc. will continue to operate as an independent business unit in Indianapolis, and company officials said they expect the number of employees to grow significantly because of the acquisition.

Arts Council names longtime marketing exec as new CEO

Julie Goodman will take the job March 4, replacing Dave Lawrence, who stepped down in August after 19 years with the organization, including the past nine as president and CEO.


MIKE LOPRESTI: A hoops classic that never gets old—even after 60 years

Ray Pavy recalls the night he and his late friend, Jimmy Rayl, combined for 100 points.