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    Mark McClelland

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Articles

IU business incubator partners with Siberian school: Reciprocal visits could lead to high-tech opportunities

October 15, 2007

After unwrapping his luggage from its seal of shrink-wrap, Mark Long reviewed his notes for the upcoming seminar. He hardly needed them. Long, CEO of Indiana University’s Research and Technology Corp., has spoken many times about how academics transfer their research discoveries to the market. But this was the first time he ever delivered the speech in Siberia. The audience-a group of business and academic leaders-ultimately could help Hoosiers access a treasure-trove of Russian technologies. “They have a lot of…

Plainfield apartments sell for $29.5M

October 8, 2007

Indianapolis-based Flaherty & Collins said it has sold its Central Park Metropolis apartment complex in Plainfield to the Chicago investment group Becovic for $29.5 million. The property has 264 units, bringing the price to $111,000 per unit.

Size matters to Greenwalt: After cutting ties to construction firm, developer focuses on small projects

September 24, 2007

Greenfield was up to about $150 million in sales by 2000, when the Greenwalt family sold its commercial construction firm. Founder Max Greenwalt then went to work with his sons Jeff and Lynn at the development company. About the same time, Greenwalt Development tweaked its mission to focus on senior-living communities and medical office projects-scaling back the size of the firm in the process. The leaner company now has $15 million in annual revenue and nearly $14 million in projects…

Subprime crisis a boon for apartment owners: Fewer renters are fleeing to single-family homes

September 24, 2007

Many of the banners touting free rent and other promotions have disappeared from Indianapolis-area apartment complexes. The concessions no longer are necessary as more Hoosiers look to rent, and they stay in apartments longer. Market observers say a big reason for the uptick is the subprime housing crisis and a resulting slowdown in new-home construction. “People are staying longer because it’s a little more difficult to purchase a home,” said Alexandra Jackiw, president of Buckingham Management LLC, a subsidiary of…

24-year-old developer tackles $30M deal

September 10, 2007

Jaron Garrett hasn’t developed anything like the 25-story tower he’s proposing. And he doesn’t come close to having the financial
muscle to pull off the $30 million project on his own. But Garrett is determined to sell his vision of transforming a downtown
eyesore at Washington and Pennsylvania streets into a twisting glass-and-steel apartment tower.

Hansen & Horn sidesteps housing carnage

August 23, 2007

Hansen & Horn Group Inc. is sailing through the slump in housing construction relatively unscathed because it began shifting out of the tract-home market about four years ago-while the industry still was going gangbusters. The local builder had operated in the upper end of the tract-home segment, but feared it couldn’t continue competing with giants […]

Westfield OKs expanded Eagle Station project

August 17, 2007

Westfield town councilors have unanimously approved an expansion of multi-use development Eagle Station to 997 acres, up from the 856 acres approved last year. The project now could include 2,230 single-family houses, 800 apartments and a number of businesses, according to the Noblesville Daily Times. The developer, Westfield-based Wilfong and Kreutz Land Development LLC, has […]

Plans for Central State’s rebirth taking shape: Mixed-use 150-acre project vast in scope, challenging

August 13, 2007

Touring the expansive grounds of the former Central State Hospital west of downtown is like taking a trip back in time-evident by the crumbling buildings that are as dated as the site’s original Hospital for the Insane name. But a redevelopment in the final stages of city approval could breathe new life into a 150-acre parcel surrounded by blighted neighborhoods to the east and north and Hispanic storefronts to the south along West Washington Street. The proposal features a mix…

Brugge Brasserie gastro-pub to produce line of 10 beers

July 23, 2007

Since mid-2005, Brugge Brasserie’s beer tanks have been operating at full capacity–pouring out 400 barrels of its signature
Belgian brew each year. Now the Broad Ripple gastro-pub is aiming higher. Brugge owner Ted Miller is set to start producing
a line of 10 bottled beers–plus seasonal specialties.

Landlord handling of water, sewer bills under scrutiny: Utility commission examining charges to see whether owners operate as utilities

July 16, 2007

State utility regulators are examining whether operators of apartments and trailer parks are hosing tenants with excessive bills for water and sewer service. The inquiry by the Indiana Utility Regulatory Commission takes aim at decades-old billing practices that include dividing up a complex’s total water and sewer bills among all tenants. The commission said it’s received a handful of complaints over the years alleging rental property owners, or their billing agents, are assessing tenants higher rates than the commission permits…

Downtown hotel towers in works

July 2, 2007

South-side developer J. Greg Allen is pitching a massive project along Pennsylvania Street downtown that includes hotel towers–one
28 stories, the other 17–to be built on property now used mainly for surface parking.

Update: Foundry collapse

June 29, 2007

Workers this morning cleared away the rubble from the old Herron School foundry building along 16th Street. It collapsed yesterday, possibly clearing the way for a deal that would provide…

Walsingham parking hurdle cleared?

June 25, 2007

For about two years, a lack of parking has delayed a condo conversion at the historic Walsingham Apartments (pictured here, courtesy of Indiana Historical Society) at Delaware and 16th streets. But now, an…

$500 million Fishers development closer to reality

June 5, 2007

The Fishers Town Council last night approved rezoning a portion of land at the site of the proposed RiverPlace project to allow residential units in addition to an already planned retail and business district, according to WXIN-TV Fox 59. The development will be located at 96th Street and Allisonville Road. Plans for the site include […]

Fort Harrison reuse plan approved

June 1, 2007

The Fort Harrison Reuse Authority won approval from the City of Lawrence last night for the final phase of a decade-long redevelopment of Fort Benjamin Harrison. The roughly 90-acre…

305 condos replacing apartments

May 14, 2007

A $150-million luxury condo development known as Renaissance Bay will replace an apartment complex along Keystone Avenue at 78th Street. All that remains of The Landings apartments are massive piles of concrete…

Another Candlewood hotel planned

May 9, 2007

Developers are planning a new 80-room Candlewood Suites hotel on the east side at 21st Street and Shadeland Avenue. Constructed is slated to start next summer on the hotel, which would be the fourth in Indianapolis for the InterContinental Hotels…

East end of Mass Ave poised for rebirth

May 7, 2007

Bustling foot traffic at lunchtime and at night helps sustain many of the restaurants, shops and galleries in the vibrant
Mass Ave downtown neighborhood. But few of the Massachusetts Avenue shoppers and diners on foot venture east of the psychological
barrier that is College Avenue.

Two more Central Canal competitors unveiled: The Marion County Alliance of Neighborhood Associations may ask the city and state for more public input

May 7, 2007

A 140- to 160-room boutique hotel straddling the Central Canal has been added to the mix of proposals to develop a nearly one-acre parcel the state owns but wants to lease out for development. Four groups submitted plans by an April deadline, but details were not released until May 1. IBJ reported the specifics of two of the proposals April 16. The newly released plans from Wichita, Kan.-based LodgeWorks LP are by far the most ambitious, calling for the state…

Winning bidder plans mixed-use project: Plan for state-owned parcel would add new neighbors for Bourbon Street Distillery, Musicians’ Repair & Sales

April 30, 2007

The winning bidder for a prime piece of state-owned land on the west side of downtown hopes to break ground later this year on a residential and retail complex. The project would replace a shabby parking lot on a triangle-shaped block that is now anchored by The Bourbon Street Distillery and Musicians’ Repair & Sales. The U-shaped, 0.75-acre property at 340 N. Capitol Ave. touches Indiana Avenue, Capitol Avenue and Vermont Street. The development likely would include condos above a…

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