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‘1-of-a-kind’ Wal-Mart proposed: Michigan developer plans Carmel/Zionsville superstore

September 26, 2005

A Michigan developer plans to build a 300,000-square-foot shopping center anchored by a Wal-Mart Supercenter along Michigan Road north of 106th Street, continuing the rapid expansion of retail on the Michigan Road corridor. Heritage RDG LLC, a Grand Rapids, Mich.-based developer new to the Indianapolis market, recently filed plans with town officials in both Zionsville and Carmel to build the center. The 36-acre parcel straddles the Boone-Hamilton county line and must be approved by local governments in both counties. Project…

South-side exit finally sparking development: Wal-Mart might by key to I-65/County Line interchange meeting expectations

October 10, 2005

An interchange linking Interstate 65 and County Line Road completed six years ago is finally helping attract large commercial development to a busy Johnson County corridor. While Greenwood city officials are pleased by the amount of activity occurring there, they question why it took so long. “We thought it would take off much sooner than it did,” said Ed Ferguson, Greenwood’s director of planning, zoning and economic development. “We still have several hundred acres available in what we call the…

Bye-bye blight?: Developers grabbing parcels east of Circle Centre mall

October 10, 2005

Several groups are floating plans and crunching numbers for downtown hotel or condo projects east of Circle Centre mall, an area that has been largely passed over for new developments in recent years. One of the more imminent projects is a large mixed-use development for the quarter-block at Maryland and Pennsylvania streets, now occupied by surface parking lots and a 9,000-squarefoot office building. A group that includes local developer J. Greg Allen has four separate parcels at the corner under…

Indiana taps Meridian to handle surplus land: Second call put out for firms to oversee leasing

October 24, 2005

The state of Indiana has taken a first step in overhauling how it manages its real estate by selecting a local firm to sell surplus property. Meridian Asset Development was notified Oct. 12 of the state’s intent to award it a contract to manage the sale of potentially hundreds of acres of land the state owns. A contract could be in place within two weeks, pending negotiations over the exact terms, said Kevin Ober, deputy commissioner for the Indiana Department…

Groceries go global: Ethnic food stores surge in popularity, number

November 7, 2005

Salsa outsells ketchup. Tortillas fly off the shelves almost as fast as white bread. And if you’re looking for these new staples of the American diet, Indianapolis is increasingly a good place to find them. Sixteen years ago, there were three Latino grocery stores in Indianapolis, according to Manuel Gonzalez, president of the Indiana State Hispanic Chamber of Commerce. Today, there are more than 40. And that’s just the places that specialize in products like milpero tomatoes and serrano chilies….

Fine-tuning a business strategy: Local violinmaker finds success by raising prices

November 28, 2005

F ine-tuning a business strategy Local violinmaker finds success by raising prices John Welch made a counterintuitive business decision two years ago. The violin business was in decline. Asian manufacturers were turning out high-quality stringed instruments for a fraction of the price of their American competitors. Welch decided to swim against the current. He raised prices. “We realized the only way to compete with the Chinese was to improve our quality,” said Welch, CEO of Indianapolis-based Sofia Violins. “We realized…

ECONOMIC ANALYSIS: Farming on decline, but ag still offers opportunity

December 5, 2005

Drive less than 20 minutes from almost any crossroads in Indiana and you’ll come across a feature of the Midwest landscape we take for granted: farmland. The vast open space in abundance between our state’s urban areas remains dominated by the industry that once employed more people than any other: agriculture. And while the sights of barns, cropland and animals grazing in pastures are familiar to us all, we should remember that looks can be deceiving. Plenty of changes are…

New airport control tower has a blind spot: More than 300 feet of runway obscured by FedEx hub will be closed, dozed to give controllers view

January 2, 2006

Indianapolis International Airport this month will launch a highly unusual project-shortening a runway. Perhaps just as odd is the reason: Controllers in the airport’s new air traffic control tower, opening next spring, won’t be able to see the southern 324 feet of the 7,604-foot crosswind runway. The FedEx hub is in the way. “The control tower needs to see the surface of the runway,” said John Kish, manager of the $1 billion midfield terminal construction project that necessitated the new…

STATEHOUSE DISPATCH: Passing ‘Major Moves’ initiative will mean major work

January 9, 2006

While most Hoosiers are focused on just how legislators are going to be able to cut residential property taxes again this year, the real battle to watch will be the one over what Republican Gov. Mitch Daniels refers to as the jobs program of a generation or more-his “Major Moves” roads initiative. What he wants boils down to this: finding a funding source for road building and repair that will not rely upon taxes. He made it clear shortly after…

Super Bowl no longer ‘right moment’: Lilly shifts Cialis ads, will focus on programs aimed toward adults

January 9, 2006

As the Indianapolis Colts gear up for a run to next month’s Super Bowl, Eli Lilly and Co. already has decided to watch from the sidelines after two straight appearances during the big game. In a marketing strategy shift, the Indianapolis drugmaker will forgo TV commercials for its erectile dysfunction drug Cialis during the Super Bowl and the Winter Olympics, which begin Feb. 10. Cialis competitors Viagra and Levitra may join it on the bench, as the pharmaceutical industry trends…

Banking players on rise: Despite flood of mergers, area competition heats up

January 16, 2006

Big-ticket bank mergers grabbed plenty of headlines in the past two years. Just don’t let the splashy news stories fool you. The number of players in the Indianapolis banking market is expanding, even amid consolidation in the industry nationwide. Over the past 10 years, the number of banks taking deposits in the metropolitan area has grown from 41 to 56, according to annual data from the Federal Deposit Insurance Corp. Analysts attribute much of the growth to smaller banks and…

IRSAY’S ODYSSEY: Owner learned from life in NFL to build winning team

January 16, 2006

The Indianapolis Colts' evolution from perennial patsy to Super Bowl favorite is a body of work with a seldom-told—and often misunderstood—history. It's easy to see the hues all-pros Peyton Manning, Marvin Harrison and Edgerrin James painted on this masterpiece season. President Bill Polian and Coach Tony Dungy certainly colored the landscape. And Offensive Coordinator Tom Moore added his creativity. But theirs aren't the only signatures on this canvas.

The TIES that BLIND?: Experts say links between company, directors may have taken toll

February 6, 2006

The Arkansas-based goliath has been on a rampage in central Indiana the past five years, building its market share in the local grocery business to 26 percent. When Marsh announced last N ove m b e r that it had hired Merrill Lynch & Co. to explore a s a l e , m a ny o b s e r ve r s attributed the steady decline of the state’s sixth-largest employer to inroads by discount rivals. But a…

Buckingham makes big plans for Carmel: Developer awaits OK on 116-acre urbanist development

February 20, 2006

The makeover of midtown Carmel, driven by the ambitious City Center master plan, could get a boost from a nearby development that could rival the project in scope. Local real-estate developer Buckingham Properties will present its proposal to the Carmel Plan Commission Feb. 21 to transform the 1960s-era Mohawk Hills apartment complex and its golf course into a modern urbanist neighborhood. The development, called Gramercy, could take a decade and hundreds of millions of dollars to complete. The 116-acre tract…

New FBI facility: tough case to crack: Government struggling to find site to build field office for bureau

February 20, 2006

The highly-sought-after job of developing a new building for the FBI’s Indianapolis field office is still in play, but it’s hampered by the federal government’s inability to find a site for the building. A bevy of local and national developers are expected to throw their hats in the ring to develop the building, which the Government Services Agency says needs to be 110,000 square feet. For the winner, it would be a high-profile project and one of the more significant…

EYE ON THE PIE: Major Moves elicits childish behavior

March 6, 2006

There are issues in Indiana other than the toll-road lease and building Interstate 69. Yet some people in the Legislature refuse to relinquish their roles as reactionaries. Example: Out of their minds with xenophobia (the fear of foreigners) the House insisted that toll booths display American flags. Why not require that all BP (British Petroleum) gas stations fly the American flag? How about giving a loyalty test to Mittal Steel, which owns a big chunk of assets in northwestern Indiana?…

Bulls of the Fairways:

March 6, 2006

David Simon and Alan Cohen are outstanding golfers, among the best of all Indianapolis businessmen. The CEOs of Simon Property Group Inc. and Finish Line Inc. share something else in common: Their companies are top performers, with their stock prices more than dou-Professor sees link between golf scores, biz success bling in a little more than three years. Coincidence? Not according to Dan Dalton, golf aficionado and former dean of Indiana University’s Kelley School of Business. “Business is like match…

EYE ON THE PIE: Legislature wastes another session

March 27, 2006

The 150 men and women who make up the Indiana General Assembly have finished their annual freak show, folded their tents, and departed from Indianapolis. In their wake, they left some truly terrible legislation and another record of neglect for the interests of Indiana’s too-long-suffering population. What was wrong with this session of the General Assembly? Your local editor will not grant me the space to be either sufficiently complete or detailed. Let’s start with the governor’s Major Moves program….

Brand balances big bucks and books: NCAA chief: Boosting revenue not out of sync with education

April 3, 2006

Which of those constituent groups is most important to Brand is open to debate. Since Brand stepped down as Indiana University president to take over at the NCAA in January 2003, the association’s annual revenue has grown from $433.2 million to $521.1 million. The increase is driven largely by an 11-year, $6 billion TV contract with CBS that took effect during the 2002-2003 sports season. Under Brand’s watch, the NCAA has ushered in new sponsors, including Sirius Satellite Radio, Direct…

Financial Strategies Mortgage Inc.: Training firm meeting national demand More states require continuing education for mortgage lenders

April 10, 2006

Launched in 1998 by consultant Aaron Wilson, the training firm is cashing in on the national demand for continuing education programs. Revenue topped $5 million last year, a significant jump from the $200,000 the company collected the first year it offered classes. Financial Strategies found its focus in 2000, when the state began requiring loan officers in Indiana to take continuing education classes-even though there weren’t any classes here for them to take. Wilson jumped on the opportunity. “In one…

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