City Market steering away from food court reputation
Proposed $2.7 million renovation would take down west wing and make cosmetic improvements before 2012 Super Bowl.
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Another renovation proposed for City Market
Indianapolis officials are proposing a $2.7 million renovation of the downtown City Market, three years after the last major
renovation failed to boost business.Company news
Warren Buffett’s Berkshire Hathaway Inc. sold off its entire stake of WellPoint Inc. stock in the
first quarter, the firm reported Monday. Buffett’s firm owned more than 1.3 million shares of WellPoint—an Indianapolis-based
health insurer that has more than 432 million shares outstanding. His firm also disposed of its stake of nearly 1.2 million
shares in Minnesota-based UnitedHealth Group, another large health insurer. Berkshire Hathaway first invested in WellPoint
in the first quarter of 2007, spending nearly $80 million to acquire nearly 1 million shares. In the three years since, WellPoint
shares have lost 36 percent of their value. The company’s shares closed Monday at $53.52 apiece.U.S. Health and Human Services Secretary Kethleen Sebelius came to Indianapolis Friday to award the Indiana University
School of Medicine an $8.5 million federal grant to renovate a former research floor at Riley Hospital for Children.
The renovations, which are set to be completed in 2012, will enable the hospital to conduct pediatric clinical research trials
by adding 18,500 square feet of bio-storage and laboratory space. “Most drugs and diagnostics are tested in adults—but
children aren’t just little adults,” said Dr. Craig Brater, dean of the IU School of Medicine. The federal grant
is one of 146 American Recovery and Reinvestment Act construction awards, totaling $1 billion, given to build, repair and
renovate scientific research labs and related facilities nationwide.Bioanalytical Systems Inc. narrowed its losses in its second quarter even though it suffered a 2-percent
drop in revenue. The West Lafayette-based contract research firm reported a $1.2 million loss in the period ended March 31,
compared with a $1.8 million loss reported for the same period last year. Revenue was down $200,000, to $6.9 million. Nearly
half of the loss came from $520,000 in expenses from staff reductions. Bioanalytical recently named Anthony S. Chilton as
president and CEO following the retirement of top executive Richard M. Shepperd earlier this year. Chilton, 53, had been Bioanalytical’s
chief operating officer since 2008.Construction could begin as early as June 1 on a $225 million hospital in northern Indiana after the Porter County Plan Commission
approved the building plans, the Associated Press reported. Community Health Systems plans to build the five-story,
250-bed hospital at U.S. 6 and State Road 49. Porter hospital officials in Valparaiso say the last step to be completed is
an archaeological and bat survey.
IU lands $8.5 million grant to renovate Riley hospital
Gift will be used for a pediatric research facility to better identify how genetic and environmental factors contribute to
diseases in children.Lender lawsuits seek millions from Broadbent owner
Two new lawsuits stemming from Broadbent Co.’s financial problems charge company President George Broadbent defaulted
on loans and owes more than $2.6 million.Stone Creek owner adding to his dining empire
Mike Cunningham has run dining spots ranging from a bar and grill to yogurt stands and is now growing a popular chain of upscale
restaurants—primarily under the Stone Creek Dining Co. name—in Indiana and Ohio.Voters back school-funding plans across central Indiana
Voters in Washington Township, Pike Township, Speedway, Carmel Clay and Noblesville approved
higher tax rates to help prevent teacher cuts or support building projects.Several school districts seek passage of referendums
Administrators are asking for millions of dollars of additional money to prevent teacher cuts and to support school building
projects.Area reaches end of an era for church construction
The $16.5 million worship auditorium that Northview Church in Carmel opened last month may be the last major church-related
project completed in central Indiana for years. Although many projects were finished before the recession, churches, which
usually pay for much of construction in cash, struggled to collect pledges.Work begins on Penn Arts apartment, retail project
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two
equity partners for the project because banks were unwilling to lend.Simons already support library
In response to IBJ’s April 26 editorial, “Simon could score for city library,” I thought it important
for your readers to know members of the Simon family have a long history of supporting Indianapolis’ public library
system and continue to be regular donors.Scaled back renovation project begins at Penn Arts
Renovation work finally has begun on the Penn Arts building at 16th and Pennsylvania streets.
COOK: Restoring buildings revitalizes communities
I got involved in restoration projects more than 30 years ago when a serious cardiac illness sidelined me from my medical-device
business.Local Scholars Inn sold, to reopen under new name
The Mass Ave. restaurant is set to become Mesh, which will feature a more casual atmosphere and menu, as well as a new operator who will
lease the space
from the building’s owners.Cook promises Old Centrum work will be done by year-end
Philanthropist Bill Cook will manage a $7 million restoration of the former Old Centrum building at
12th Street
and Central Avenue in Indianapolis, and the newly renamed Indiana Landmarks will move its headquarters there.Lilly sets date for move from Faris campus downtown
Work force reductions, new business structure make leased office space unnecessary. Moves will begin in late June.
Keeping Stevens key to Butler’s fund-raising plans
Assuring Stevens stayed in the Bulldogs’ kennel is part of a multi-prong plan to grow the Indianapolis school’s $11.2 million
athletics department budget.Final Four run presents challenges for Butler
Horizon League Commissioner Jon LeCrone is hopeful Butler University officials will not let their enthusiasm over the school’s
recent push to the NCAA Championship game run wild.Franklin College launches $85 million building campaign
Small liberal arts school in Johnson County plans to modernize and expand athletic facilities, classrooms and residence space.
Tenant exit leaves Circle Centre 4th floor almost vacant
Departure of GameWorks arcade leaves another 27,000 square feet of vacant space on the mall’s fourth floor, which has struggled
for years to
keep tenants.