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Kite flies third plan for Nora project: Developer scales back condos, dangles Whole Foods Market

Developer Paul Kite is back for a third round in his battle with Nora residents to develop a condominium/retail project on the last undeveloped corner of 86th Street and Keystone Avenue. In plans submitted to the city and to neighborhood groups, Kite’s PK Capital LLC has drastically trimmed the number of condo units planned for the 13 acres, but reintroduced the concept of a specialty grocery on the site. PK is working to bring the state’s first Whole Foods Market…

EYE ON THE PIE: Don’t let a little suffering wreck holidays

I drove past the shrine at Clark and Addison in Chicago the day after the White Sox won the World Series. All was normal outside Wrigley Field. There was no evidence of the momentous event in Houston the night before. The White Sox and their fans do not exist for Cubs fans. There is an order to the world. For Hoosiers, people from Kentucky generally rank lower than folks from Pennsylvania. Yet we know Hoosiers don’t rank highly in the…

Could race teams bridge divide without series’ blessing?: Ganassi pushing for IRL-Champ Car cross-pollination

The pull of some Champ Car markets is so strong, it has the owner of a prominent Indy Racing League team talking about launching a cooperative effort with a team from the rival open-wheel racing series. And he’s urging other IRL teams to do the same. Chip Ganassi last month proposed IRL and Champ Car teams partner so they can compete in both series’ biggest races and perhaps even square off for a cross-series championship. Ganassi told Speed TV that…

Butler construction project targeted for fall ’06 finish: Student housing, rec center to join historic campus

The landscape around Butler University’s historic Hinkle Fieldhouse is undergoing dramatic changes not seen on the private campus since the early 1960s. Construction began in May on a $50 million project to build a student recreation center west of the 77-year-old arena and student housing to the east. Both should be finished by the start of the fall semester in August. The construction projects are the largest since Irwin Library, Clowes Memorial Hall and Lilly Hall were built in 1961,…

Sometimes hot growth is not a good thing: Study to explore how to cut cooling expenses

The definition of an “urban heat island” in Indianapolis would be incomplete if limited to, say, the hot air emanating from the Statehouse during the session. To Qihao Weng, an urban heat island refers to how an entire city remains up to 10 degrees warmer than the surrounding countryside. The Indiana State University associate professor of geography has launched a study to learn just how Indianapolis’ concrete jungle heats up in warm-weather months and by how much. His study funded…

Omnicity making inroads among the dirt roads: Rural areas served by wireless broadband provider have grown nearly six-fold

An Indianapolis company that provides wireless broadband service from atop grain elevators, water towers or darned near anywhere the warbler roosts is expanding at a rapid clip and plans to launch Internet-based phone service in early 2006. Omnicity Inc. also plans another private offering to raise cash for its ambitious build-out in rural areas that are underserved by high-speed Internet providers. Improving broadband access has economic development implications in Indianapolis’ remote bedroom communities and throughout sparsely populated areas. Now, even…

NOTIONS: Learning what matters in the ultimate survivor game

When I was 21, I went to work for a mayor. I was an intern. I wrote speeches, letters, news releases and proclamations; took photographs; set up chairs for news conferences; poured coffee for reporters; sipped tea with sister-city delegations; photocopied documents; scheduled guests for radio and TV shows; produced an audio-visual presentation; showed it to scores of neighborhood associations; told them how great the mayor was. Things like that. I made minimum wage, learned from some wise mentors and…

Rehab specialists learn value of flexibility: Historic building projects require contractors who can adjust on the fly

For the ideal construction project, building owners and architects carefully develop a budget and a set of plans, then hire contractors to follow the plans to the letter, the budget to the dollar, and the schedule to the day. But when the building is old-old enough to have been through several owners and multiple uses-throw the ideal out the window, owners and contractors say. Yes, the budget constraints are still there. And the result-new housing, hotel or offices-is the same,…

BULLS & BEARS: Furniture-maker Kimball may be solid investment

It can take a while to rein in investor expectations after a time like the high-return 1990s. As Jeremy Grantham of Grantham Mayo Van Otterloo notes in his quarterly letter, “Even today, with long bonds at 4.5 percent and the earnings yield (on stocks) at under 5.5 percent, the assumption for longterm pension returns is still showing its bullish bias at over 8 percent.” So what does an investor do in an environment that requires more humble expectations for investment…

Ice Miller experiment turns financial corner: IMSS is only area sports agency licensed by NFL, NBA

At a time when many sports agents are getting squeezed out by mega-agencies with Shaquille O’Neal’s mass and New York Yankee-like resources, a small Indianapolis firm is becoming a real player. A curious experiment launched in August 2001 by local law firm Ice Miller has become a profitable venture despite long odds and a slow start. “It’s fair to say that launching this effort has been harder than we thought,” said IM Sports Services LLC Chairman John R. Thornburgh. “After…

S.S. Purdue taking on water:

Rome may have been burning but, in West Lafayette, Purdue University is leaking. The university has proposed a complex funding plan to address crumbling infrastructure resulting from declining state funding. Purdue President Martin Jischke proposes that Purdue set aside $15 million annually for repairs, money that would come from sources including $60 million in bonds to address half of the $120 million deferred repair backlog. The bonds would be paid off through budget reallocations and revenue from student fees for…

Rental businesses enjoy heavy equipment demand: Volvo Rents sees big opportunity in local market

As central Indiana’s construction market continues to gain momentum, Volvo Construction Equipment Rents Inc. hopes to get up to speed by opening as many as three franchised Volvo Rents stores by the end of 2006. The stores rent small to medium-size equipment from Volvo Construction Equipment and other manufacturers to a range of customers-from professionals to do-it-yourselfers. And Indianapolis has it all. “Between 2005 and 2008, Indianapolis [construction spending] is projected to grow 5 percent,” said Nick Mavrick, Volvo Rents’…

Critics want IPL answers: Utility cut $10M settlement after agency suggested accounting was misleading

Groups representing Indianapolis Power & Light Co. customers want to know if the utility has deliberately underreported income to regulators and overcharged customers. Their concerns were sparked by a cryptic settlement IPL reached with the Indiana Office of Utility Consumer Counselor on Oct. 28 that took IPL customer groups by surprise. IPL agreed to provide each residential customer with a $25 credit early next year, “a time when the costs for heating their homes will be at their highest,” IPL…

VOICES FROM THE INDUSTRY: Putting construction, engineering into laymen’s terms

Sometimes those of us in the construction industry-like many other professions-forget we have our own technical vocabulary that many laymen simply don’t understand. Like some of my colleagues, I have occasionally started tossing around the lingo of our industry before business and civic leaders from other fields and have seen the confused look that comes over their faces. I have to stop and define my terms. With that situation in mind, I thought it might be helpful to put together…

TOM HARTON Commentary: Creativity is right around the corner

Don’t know what to make of the city’s new focus on public art? Talk to the hand. Or rather, talk about the hand. That’s what people here should be doing later this month when a blackand-white image of a care giver’s outstretched hand starts popping up on cultural institutions and billboards around the city. The work of art, “Untitled (for Jeff),” by Felix Gonzalez-Torres, is on loan from the Hirshhorn Museum and Sculpture Garden in Washington, D.C., and it’s evidence…

BEHIND THE NEWS: Feds say exec pilfered passport, but judge isn’t convinced

Here’s a new twist in the already surreal saga of James T. O’Neal Jr., the Carmel native preparing to stand trial in Orlando on charges he swindled millions of dollars from executives here and in Florida. In late September, a new court filing charges, the 59-year-old Orlando resident swiped his passport and the Social Security cards for himself and his family from a repository of court records in Indianapolis. “It is a reasonable assumption that he will continue to take…

HVAC specialists see rise in energy-saving interest: Anticipated price spikes spur demand for revamps

Many plant managers consider it a lost cause to combat thermostat wars, factoring it in as a normal cost of doing business. Or they just don’t think about it all. Even before hurricanes Katrina and Rita caused natural gas prices to soar, an energy price problem was already in full swing. Engineering, construction and energy management firms were already addressing concerns from clients over how to combat rising energy bills. While soaring prices are expected to wreak havoc on residential…

ECONOMIC ANALYSIS: How we all pay the price for things that seem free

There’s no such thing as a free lunch, goes the familiar cliché about economics. That old phrase is meant to impart the simple idea that anything that consumes resources imposes a cost, which is certainly true. But a little tweak of the wording produces a much more powerful insight. That’s to say-to an economist’s way of thinking, at least-nothing should be free. Those dour sentiments doubtless explain why economists don’t get invited to many parties. Free goods abound in our…

Liquor chain looks online for growth: 21st Amendment to launch e-commerce site

Jim James drinks scotch. Just don’t pour him a tumbler from the well at the local tavern. Reach for the bottle on the top shelf with the Blue Label. And make it neat. Connoisseurs don’t waste a good single-malt on a frozen tongue. James should know. The tall, broad-shouldered CEO of Indianapolis-based 21st Amendment Inc. has built an 18-store kingdom selling spirits to everyone from lint-pocketed college students to Riedel-toting executives. The company, which began with a lone location on…

VOICES FROM THE INDUSTRY: Talent, education are keys in competitive field of design

“Individuals with little or no formal education in design, as well as those who lack creativity and perseverance, will find it very difficult to establish and maintain a career in the occupation,” warns the department through its currently posted Bureau of Labor Statistics Outlook. While I do suggest that designers of the future should take their career outlook seriously given the current and expected competition, I certainly would not want to discourage them. Creativity and perseverance are among those traits,…