Developer plans apartments at 707
A local developer hopes to convert the unfinished eight-story 707 E. North St. condo project into a mostly affordable apartment building…
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A&E: At the IMA: Sabine there, done that-WEB ONLY
This week, challenging work at the IMA, an impressive operatic collaboration, and laugh-out-loud silliness. Stunningly beautiful and infuriatingly smug, isolating and compelling, baffling and smart, ‘Rape of the Sabine Women” is, in theory, the anchoring work of the Indianapolis Museum of Art’s current “Adaptation” show. I say “in theory” because, unless you plan carefully and […]
Moonlighting to make ends meet-WEB ONLY
Optometrist Jeremy Ciano mortgaged his house and invested his life savings to establish Revolution Eyes, a vision studio in Carmel’s Clay Terrace. Although the recession has taken a heavy toll on his small business, Ciano promised his eight employees their jobs are secure. That’s why he’s moonlighting. “This year the goal is pretty modest, unfortunately. […]
IPL wins retiree benefit dispute-WEB ONLY
Indianapolis Power & Light could have been on the hook for more than $100 million in retirement benefits, but a ruling this month by the Indiana Utility Regulatory Commission allows IPL to keep the money. IPL prevailed against a claim by retirees who wanted the utility to pay up to $115 million to back-fund a […]
Building on a prayer-WEB ONLY
The Greek Orthodox families of central Indiana worked for 10 years to build their new gold-domed church in Carmel, but they aren’t finished sacrificing. The 500-family congregation now must pay off the $9 million building, just as the recession and stock market collapse have wiped out some families’ ability to make good on pledges. “We wish, maybe, we hadn’t got […]
SPORTS: Crooked Stick is primed for the Men’s Senior Open-WEB ONLY
The media and other hackers gathered at Crooked Stick Golf Club in Carmel recently to hear about plans for the upcoming U.S. Men’s Senior Open, then tested their limited skills on the golf course. I had an absolutely glorious and funfilled day, except for the nine lost balls, which, in my “Tin Cup” moment, included […]
A warm and fuzzy idea-WEB ONLY
In a state steeped in advanced research that spawns biomedical companies by the dozen, Apricity LLC is preposterously low-tech. Its founders-Mark Kyker and Steve Isenberg-are medical doctors, not university or Fortune 500 scientists. And its latest product is nothing more than a warm blanket. As unremarkable as it sounds, the blanket has the potential to […]
NOTIONS: Birth, death and living in between-WEB ONLY
Last week, the phone rang in the wee hours. When a call comes that early, it’s rarely good news. This one bore the worst kind of all. The day before, a dear friend’s husband, Ralph, had been doing some mowing at their rural property in northern Indiana. His wife (my friend Cheryl) was at work […]
EYE ON THE PIE: Financing plans can end friendships-WEB ONLY
They went home without passing a budget. They will return. They are the members of the Indiana General Assembly, 150 citizens but just a few individuals. Adherence to party discipline is their major concern; neither good policy nor the welfare of the people is even a tangential consideration. I had written these lines when Myrtle […]
Sunny days could save delayed corn crop-WEB ONLY
Jeff Gormong was still waiting on May 20 to plant the first row of corn on his 2,000-acre spread near Farmersburg. And every day he waited for his field to dry, the potential yield was falling. Heavy spring rains have delayed the planting of corn in Indiana, particularly in the central and southern parts of […]
EDITORIAL: Pay for diplomas is smart incentive-WEB ONLY
Incentives have long been used as an effective tool in business to improve employee performance. But can a concept that helps companies motivate workers also work in public education? Indiana Superintendent of Public Instruction Tony Bennett is hoping it can. On May 18, he announced an awards program in which 12 high schools that achieve […]
Panel handicaps chances of market recovery-WEB ONLY
A panel of five veterans of real estate and construction provided industry insights at IBJ’s Power Breakfast May 1 at the Westin Indianapolis. The panelists were: Mary Beth Kohart, a principal and vice president in the local office of Colliers Turley Martin Tucker; Danny Marr, a partner and principal broker for Veritas Realty; Andrew Morris, […]
Reuse eyed for stalled luxury condo project-WEB ONLY
A local developer is hoping to convert an unfinished eight-story luxury condo project downtown into a mostly affordable apartment building with its headquarters on the top floor. The Whitsett Group has agreed to buy the 707 E. North St. building from Beilouny Luxury Properties, but the deal still must be approved by Cincinnati-based Fifth Third […]
ISTA trust lacked expertise-WEB ONLY
The people overseeing the ISTA Insurance Trust had no background in investments or insurance, likely leaving them ill-equipped to grasp the ever-larger amounts of complicated investments the trust was buying. The Indiana State Teachers Association, the state’s union of public school teachers, tapped educators for all the positions on the trust’s board-seven current or former […]
What’s a property worth?-WEB ONLY
Few commercial real estate properties are changing hands in the Indianapolis area these days, creating challenges for brokers who say it’s becoming increasingly difficult to determine the value of properties. With the economy in turmoil, and the acquisitions market at a virtual standstill, only a handful of recent sales can be used to guide appraisers […]