Indianapolis Business Journal – May 3-9, 2019




In This Issue

Front Page

Companies fret as costs soar for software subscriptions

The software as a service—or SaaS—market is going gangbusters.

Starved for staff, firms consider ex-offenders

Develop Indy, the economic development arm of Indy Chamber, is connecting businesses with PACE, a not-for-profit that helps people coming out of the criminal justice system re-enter the community.

Once-dilapidated far-east-side shopping center to become home for retail startups

Following a multimillion-dollar renovation, a far-east-side building that was on track for demolition is set to emerge as a retail-startup hub that supporters say could revitalize a neglected part of town.

Top Stories

A sweeping gambling bill passed the General Assembly. Here’s what you need to know.

Some observers say the upcoming changes are the most significant in the industry since the Legislature authorized riverboat casinos in 1993.

Zionsville neighbors battle village proposal—again

But the mixed-use project called Sycamore Flats, filed by Carmel-based J.C. Hart Development, appears to have more momentum than past proposals opponents or local officials rejected.

Are additional Celadon execs in prosecutors’ sights?

The Justice Department’s April 25 press release—which announced Celadon had admitted to the fraud and agreed to pay $42 million in restitution—closes by noting that the investigation is ongoing.

What lawmakers did—and didn’t do—in the 2019 session

The 2019 legislative session ended April 24—five days ahead of the statutory deadline—with hundreds of bills sent to Gov. Eric Holcomb for his consideration.

Q&A: 120WaterAudit eyes big growth after pivot

Megan Glover started 120WaterAudit in 2016 with the idea of targeting residential consumers nationwide with a water-testing kit that cost $120 every four months. But the company has pivoted to work largely with municipal water utilities and governments.

Local car dealers hit with flurry of lawsuits over document-prep fees

Most of the area’s largest car dealers are being sued for charging document-preparation fees that appear to violate state law. But Indiana lawmakers just passed a bill to the governor that would legalize the practice.

Developer plans $25M ‘village’ project in downtown Westfield

Carmel-based Old Town Cos. plans to develop a mix of apartments, condos, shops and restaurants directly north of the $35 million Grand Junction Plaza project, which was funded by city officials last month.


Holladay Properties is more than just AmeriPlex

Beyond the 1,500-acre industrial park near Indianapolis International Airport, the developer has launched a broad range of residential and commercial projects in Marion and Hamilton counties, from the redevelopment of the Milano Inn site downtown to the Grand Park Events Center in Westfield.

Tennessee real estate firm pays $47M for Methodist building

The seller was The Sanders Trust of Birmingham, Alabama. The trust—co-founded by Hall of Fame National Football League quarterback Bart Starr—acquired the building in 2009.

Flaherty & Collins opens Sullivan apartment project

The project created 40 apartments, which are spread across two restored historic structures and new construction on the downtown square.

Taft brings aboard real estate attorneys

Chelsea Ringlespaugh Spickelmier and Nicholas Mollmann are new associates in the law firm's Indianapolis office.


Lugar’s less-partisan approach should guide public discourse

NATE FELTMAN: Lugar’s legacy lives on in those he mentored

Civic engagement and good character are important values from which he never strayed.

Sheila Suess Kennedy: Can partisans game the system? We’re about to find out

The census is supposed to count “heads”—the number of people in a given area. There is no use of census data that requires knowing how many of those residents are citizens.

Steve Goldsmith: Lugar’s lessons for politicians of today and tomorrow

More politicians should study the legacy of this great statesman. I hope it will play a part in the renaissance of thoughtful, reasoned political debate and bipartisan governance.

HAHN: Our uncertain life spans make financial planning tougher

My clients and I spend a lot of time working on the balancing act of spending enough while they are healthy vs. saving for the possibility of living longer.

BOHANON & CUROTT: Beware of gloomy predictions, economic or otherwise

Where do dire prognosticators go wrong? We think it comes from seeing the world economy as a zero sum-game.

Ed Feigenbaum: Fresh faces led to a less stressful legislative session

So what made this session—which, from the outside at least, looked much like sessions of the past—more enjoyable for lawmakers?

Sheri Fella: Growing leadership like we grow a garden

Ground-making takes courage, vulnerability and commitment. It is hard work in messy spaces. I was reminded of just how messy during my 2-1/2-day experience with Brene Brown, a social work researcher who speaks and writes about vulnerability and shame.

Letter: Investor bullish on Midtown Carmel

What’s special about Carmel, and Midtown in particular, is that it illustrates the transformative power of cohesive mixed-use redevelopments in suburban settings.

Letter: ‘Inclusive City’ full of great ideas

CEO Brian Payne, an extraordinary visionary, has more great ideas, creative- and coalition-building talent than any politician on the horizon.

In Brief

Plans for hotel at One North Penn progress as owner reaches deal with holdout tenant

After a legal battle and mediation, Centier Bank plans to relocate its branch while the owner of the historic tower at Pennsylvania and East Washington streets prepares to revamp it as a swanky hotel.

WFYI names public broadcasting veteran to replace Lloyd Wright

After a six-month national search, WFYI Public Media has named Greg Petrowich as new CEO.

IBJ wins 11 awards—including six first places—in Indiana journalism contest

Reporter John Russell won four awards, while the newspaper’s art team swept the Page 1 design category, at the Best in Indiana competition hosted by the Indiana Professional Chapter of the Society of Professional Journalists.

Florida-based theme restaurant chain to open local mall location

A Florida-based theme restaurant chain licensed by the Ford Motor Co. has chosen Hamilton Town Center in Noblesville for its first location in Indiana, mall owner Simon Property Group announced Monday.

Pacers Bikeshare program revamps pricing model

The new pay-as-you-go pricing puts Pacers Bikeshare more in line with the pricing model used by scooter companies Bird and Lyft, which have eaten into the program’s business.


MIKE LOPRESTI: Previewing the Colts, with a little help from The Beatles

What else for the team owned by the guy who just bought John Lennon’s piano?