Local restaurants land at airport
Top-name Indianapolis restaurants including Shapiro’s Deli, Harry & Izzy’s, Scholar’s Inn and Slippery Noodle Inn could land restaurants at the new…
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Not all feel need for ‘Speed Zone’: Speedway’s $500M redevelopment plan is catching criticism from town’s residents
Speedway may have been built on motorsports, but some residents think a $500 million redevelopment plan that would transform the small town into a year-round racing-themed destination goes too far. The plan, which involves 350 acres south of Indianapolis Motor Speedway, has become the issue in town at a time when a certain race usually dominates conversations. At the cozy Charlie Brown’s Pancake and Steak House on Main Street, patrons mull over the project in-between forkfuls of the diner’s signature…
We got game-what’s next?: Super Bowl may require 10 times the personnel of Final Four
While landing another Super Bowl may be a long shot, local leaders clearly intend to show what Indianapolis is capable of accomplishing. “Our perspective is that this is a one-shot deal,” said local attorney Jack Swarbrick, who was part of a small contingency that traveled to Atlanta last week for the bid presentation to NFL owners. “But if we do this, and we do it well, the world will know we can do anything. If you’re thinking of Indianapolis hosting…
New Lafayette Square owner pitching major expansion
Lafayette Square Mall could look a lot like the revitalized Glendale Town Center in a few years if the mall’s new owners get
their way. A proposed site plan shows that New York-based Ashkenazy Acquisition Corp. doesn’t intend to settle for filling
the mall’s ample vacant space.Could Super Bowl lift projects?
News of Indy’s successful bid for the 2012 Super Bowl spread quickly among Hoosiers here in Las Vegas. Already, the selection has become a part of sales…
Siteplan sleuthing in Las Vegas
Hundreds of developers are circulating thousands of siteplans from more than 2 million square feet of exhibition space at the International Council of Shopping Centers convention in Las Vegas. The pitches include dozens…
Brownsburg power center planned
Two local developers are pitching retailers on a proposed 700,000-square-foot power center in Brownsburg. The massive project seeks to capitalize on a growing population center and the…
Symphony Bank results keep hitting sour notes: CEO hopes to succeed by taking bank ‘to the people’
Symphony Bank’s palatial branch along East 96th Street-outfitted with a copper roof, towering domed ceiling and heated parking lot-was designed to telegraph wealth and stability. But instead, the $5 million Taj Mahal became the most prominent symbol of the bank’s excesses and one reason the startup has lost money every year since its founding in June 2005. The bank, which has no other branches, has torn through two management teams and piled up annual losses of $2 million or more…
Steak n Shake hopes discounts whet appetites: Yet some fear promotions may hurt the brand
In an effort to reverse declining sales at its restaurants, The Steak n Shake Co. plans to roll out a number of new promotions and discounts this summer. During a conference call with analysts May 14, interim President Jeffrey Blade said the Indianapolis-based chain plans to introduce deals such as 99-cent children’s milkshakes and discounted burgers and sandwiches to lure customers back into its stores. The company also is testing $1 kids’ meals, a discounted milkshake “happy hour” from 2…
Zoobilation sells out fast despite $200-plus admission
Far from the typical rubber-chicken fund-raiser attended mostly by board members and their friends–Zoobilation, the 22-year-old,
annual black-tie fund-raiser for the Indianapolis Zoo–attracts 4,300 ticket holders eager to spend an evening wining and
dining at the zoo.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…
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.BEHIND THE NEWS: Is it time for investors to bite on Steak n Shake?
It takes courage, but sometimes the best time to invest in a stock is when almost no one else is. That strategy paid off royally with Finish Line Inc., whose shares are up 180 percent this year. Now, is the time right to dive into The Steak n Shake Co.? To be sure, naysayers can find plenty of reasons to steer clear of Steak n Shake, which helps explain why shortsellers-investors who make their money when shares fall-have flocked to…
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…
Glass Chimney, Deeter’s acquired, to stay open
Three Carmel residents have bought the Glass Chimney and Deeter’s restaurants, both of which are dining fixtures in Hamilton County. The restaurants’ owner, Dieter Puska, said in January that he planned to retire and close both establishments on April 26, although he left open the possibility that someone might buy them. At the time, industry […]
Texas investor enlists former Steak n Shake exec in quest to revive chain
Two executives with longtime ties to The Steak n Shake Co. have joined a dissident Texas investor in his quest to overhaul
the Indianapolis-based restaurant chain. Shareholders who have agreed to work with Sardar Biglari include a former board member
the company once described as a “modern-day founder” of the restaurant chain, along with a former partner in Kelley & Partners
Ltd., the investment firm led by company patriarch E.W. Kelley before his 2003 death.UPDATE: Kite plans retail at Pan Am site
A local developer hopes to add restaurants and retail space and possibly a hotel to Pan Am Plaza to capitalize on a growing convention center and the new Lucas Oil Stadium. Kite Realty Group Trust joined with Sacramento, Calif.-based Coastal Partners LLC to buy the plaza and two adjacent ice skating rinks from Indiana Sports […]
Kite eyes retail, hotel for Pan Am
A local developer hopes to add restaurants and retail space and possibly more to Pan Am Plaza to capitalize on a growing convention center and the new Lucas Oil Stadium. Kite…
Slots at horse-racing tracks may boost meeting space: Hotels in long-term plans if ‘racinos’ are successful
Two thousand slot machines at each of Indiana’s two biggest horse tracks should attract hordes of Hoosiers willing to try their luck on the one-armed bandits. But, ultimately, owners want to add meeting and convention space to capture other business as well. Legislation approved by the General Assembly in 2007 permits the slots at horse-racing facilities Hoosier Park in Anderson and Indiana Downs in Shelbyville. The law paves the way for the creation of what many are calling “racinos”-casinos that…
VOICES FROM THE INDUSTRY: Building a business case for what the city needs next
With the deflation of the RCA Dome, Lucas Oil Stadium will become the home of the Colts, the NCAA Final Four and, hopefully, the 2012 Super Bowl. In late October, the new Indianapolis Airport will become the remarkable new gateway to our city. Yes, 2008 should be an amazing year. Then what? Expansion of the Indiana Convention Center and construction of the JW Marriott complex will soon be under way. As we bike around downtown on the Indianapolis Cultural Trail,…