NY notes: Upright Citizens
About a year ago, on a previous trip to NYC, I happened to be in town with a free Sunday evening. That’s usually not the most happening time in any town, but I knew there had to be something outstanding…
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Networking key for Heron: Life sciences venture capital firm has invested in four startups
Four years ago, attorney Greg Maurer decided he wanted to try his hand at venture capital. So he began calling everyone he knew in Indianapolis for help. It took several years. But eventually, Maurer attracted a team of experienced venture managers to his side. He also assembled two expert boards: one filled with scientists to help analyze the technical side of new business plans, and another composed of veteran investors to consider their market potential. Maurer, 31, is the son…
Airport contractor accused of faulty work in New York
An Indianapolis firm helping oversee construction of the city’s $1.2 billion midfield terminal is facing accusations from
Southwest Airlines that it failed to ensure the quality of a $12.4 million concrete apron at Long Island MacArthur Airport.Davis Homes faces lawsuits; DayMarc out of business
A depression in the home-building market has claimed a Fishers builder and continues to hammer locally based Davis Homes LLC–a
powerhouse for years that now is facing foreclosure on about 80 home sites.BEHIND THE NEWS: Locally based oil refiner sees boom times vanish
Calumet Specialty Products Partners LP, the low-profile Indianapolis-based oil refiner, has been confronting challenges lately that would fray the nerves of even the most seasoned executive. First, the business is grappling with a huge spike in crude oil prices-the main input for its three Louisiana refineries, which churn out vehicle and jet fuel, along with solvents, waxes and other specialty petroleum products. Then there’s the delay-plagued expansion of its Shreveport refinery, which began in late 2006. The project was supposed…
Dome demolition details announced
The signs of the 25-year-old RCA Dome are coming down next week. The building which helped lure the Indianapolis Colts here from Baltimore will follow.
The Indiana Stadium and Convention Building Authority this afternoon announced detailed plans for demolishing the RCA Dome…
Stadium walkway attracts events
Details of a crucial aspect of the Lucas Oil Stadium-Convention Center project could be revealed today as city and stadium construction officials meet to discuss the project.
The construction timeline on the $10 million connector…
Commentary: Do we need a disaster to wake us up?
About 20,000 historic properties were damaged in the storm, and Gay, executive director of Preservation Resource Center of New Orleans, has led the charge to save them. “We never felt like throwing up our hands,” Gay said. “We don’t do that.” The Preservation Resource Center contacted owners of the nearly 4,000 historic properties that were condemned after the hurricane. About 600 of them have been spared to date. The PRC also has been helping review the planned demolition of buildings…
Renovated Central Library spawns neighborhood revival
A local developer plans to spend up to $45 million building a “north village of downtown” on several parcels it has assembled
near the Central Library. Buckingham Cos. plans to build apartments, offices, restaurants and retail space-all surrounding
its headquarters in the three-story Stokely-Van Camp building at the southeast corner of Meridian and St. Joseph streets.VOICES FROM THE INDUSTRY: Making green make sense in a competitive market
Day after day, the news seems filled with stories of disruptive credit markets, an economy teetering on recession, and increasing energy costs. As business professionals grapple with such issues daily, why would commercial real estate professionals consider the time and effort to “go green”? Historically, green initiatives suffered in part from stereotypical “tree-hugger” false perceptions. Such perceptions may lead people to believe that green investments simply aren’t worth it. The truth? The real focus has always been the efficient use…
Former Duke retail executive ready for first solo project: Schembre preparing to break ground on $15M Lawrence Commons
A former Duke Realty Corp. executive who hung up her own shingle last year is close to breaking ground on her first project. Cindy Schembre, 49, launched Via Retail Development LLC in January 2007 and is negotiating with tenants and closing on the purchase of 11 acres at 56th Street and Mitthoeffer Road. The $15 million project, known as Lawrence Commons, is an 80,000-square-foot neighborhood center that is slated to break ground in June. The development includes a 45,000-square-foot anchor…
Soaring cost of gas makes ethanol blend more competitive
Prices of an alternative fuel that’s had patriotic and environmental appeal–but not an economic one for motorists–have been
flirting this month with gasoline on an energy-equivalent cost basis. The sudden but often fleeting price appeal of fuel “E85,”
a blend of ethanol with a dash of gasoline, is due largely to gas prices soaring to nearly $4 a gallon.Defaults also hit business property: Experts expecting bump in commercial loan woes
In the few short months since Gordon Hendry began leading the Property Management Division for the local office of CB Richard Ellis, the firm has become involved in a growing number of commercial loan defaults. Locally, CB Richard Ellis is the courtappointed receiver for Plainfield Crossing, a 92,000-square-foot West Washington Street strip center anchored by Value City, and for Crooked Creek Center, a 52,000-square-foot center at 79th Street and Michigan Road. Hendry expects the local office will be assigned to…
VOICES FROM THE INDUSTRY: Intermodal is key to Indiana’s future crossroads identity
Earlier this year, the Wall Street Journal ran a front-page story about rail’s resurgence as a means for moving goods across the country. The story described the federal dollars being spent to fuel this railroad recovery, as well as the private sector investments being made and the economic benefits waiting for cities that get involved. The story included a map with thick, colored lines representing the key rail systems connecting the Midwest to the coasts. It took only a quick…
Crean touts new IU facilities
New Indiana University basketball coach Tom Crean is convinced athletic facility improvements under way on the Bloomington campus will help the Hoosiers return to dominance.
Crean told a group of mayors from southern Indiana…
SHELBY COUNTY: BANKING on BEANS
SHELBY COUNTY BANKING on BEANS Integrity Biofuels in Morristown persevering despite run-up in soy prices MORRISTOWN-Two years ago this August, the biggest thing in this Shelby County town of 1,300 residents was not the Bunge North America soybean processing plant. Not even its three silos, each as big as an aircraft carrier planted upright by […]
HAMILTON COUNTY
HAMILTON COUNTY Carmel proceeds with Keystone roundabouts Carmel is taking its love affair with roundabouts to the next level. On March 21, Carmel Mayor Jim Brainard unveiled roundabout reconstruction plans for the 106th and 126th Street interchanges of Keystone Avenue. The State of Indiana relinquished control of part of Keystone to Carmel last September and […]
MADISON COUNTY Production has begun at Nestlé in Anderson
MADISON COUNTY Production has begun at Nestlé in Anderson After nearly two years of planning, construction and hiring, Nestlé Corp. has begun churning out Nesquik Ready-to-Drink and Coffee-mate liquid products from its $360 million plant in Anderson. The Swiss company announced in July 2006 that it would build the 880,000-squarefoot plant and create 300 jobs. […]
Janitors want Lilly, WellPoint to push for better health benefits
Service Employees International Union Local 3 is backing local janitors as they restart contract negotiations April 16 with
five of the largest janitorial contractors in Indianapolis. SEIU now is taking direct aim at Lilly, health insurer WellPoint
Inc. and even some local hospitals, hoping they will pressure the janitorial contractors to come to terms.Colts could struggle with $9 billion NFL debt: Revenue hikes by big teams could skew salary cap
Small-market teams like the Indianapolis Colts could find themselves straining under the pressure of the National Football League’s recently disclosed $9 billion debt, which is three times higher than Major League Baseball’s and estimated to be double that of the National Basketball Association. Made public last month as part of a court filing, the NFL’s debt encompasses all league and team obligations. Sources close to the league said it is tied closely to stadium building projects. The Colts, for example,…