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VIEWPOINT: Signs of economic recovery all around us

August 15, 2005

After weathering some difficult times over the last few years, there are encouraging signs that central Indiana has turned the corner on its road to economic recovery. The Indianapolis metro area added 22,000 jobs in the year ending in March-a 2.4-percent increase-and in May, the Indiana unemployment rate dipped below the national average for the first time since December. All signs point to continued modest growth. Patrick Barkey, IBJ contributor and Ball State University economist, says, “We should expect to…

Group wants energy czar: Coalition believes utilities slow to climb on efficiency bandwagon

August 15, 2005

Chris Maher’s crews at Thermo-Scan Inc. have been plenty busy inspecting for drafts and puny insulation in many of the 14,000 new homes built each year in the metro area. Even so, the principal at the Carmel firm can’t help wonder about the vast potential to make the hundreds of thousands of existing homes and businesses more energy efficient-if only homeowners had a little more incentive. Utility companies, he says, have relatively few dollars budgeted to coax customers to install…

Past retail failures in China don’t scare Simon away: Developer’s partnership with Wal-Mart could be key

August 15, 2005

Executives of Simon Property Group Inc. are confident the shopping mall owner’s foray into China will prove successful, even though they acknowledge others have failed there. In a conference call with analysts late last month, the locally based real estate investment trust announced its plan to be the first American company to develop retailing projects in the communist country. Its first project will be a 500,000-squarefoot mall at Hangzhou, a city of 6 million people about two hours from Shanghai….

Condo wave a ripple locally: Shelved conversions show area not following in national footsteps

August 15, 2005

Condominiums are hot. Apartments are not. In many cities, that current market truism among would-be renters has led to a wave of conversions of apartment complexes to condos. But not in Indianapolis. To date, only a handful of apartment complexes have successfully made the leap from rental to for-sale, notably Lion’s Gate at 86th and Meridian and Ladywood Estates near Emerson Avenue and 56th Street. Much of the reason has to do with the affordability of single-family housing in the…

VOICES FROM THE INDUSTRY: Reaping the benefits of the American Jobs Act

August 15, 2005

Astute real estate professionals should be taking advantage of several tax-saving provisions of the American Jobs Creation Act of 2004. The act was signed by President Bush last October to spur economic development and investment. The primary components of the Amer ican Jobs Creation Act include increased depreciation deductions on leasehold improvements, greater flexibility for real estate investment trusts, modification of expensing rules for equipment and vehicles, and a reduction in the tax rate for domestic manufacturing activities. Leasehold improvements…

Defining success: Those who’ve tasted it share their thoughts on just exactly what ‘it’ is

August 8, 2005

How do you define career success? We posed that question to a variety of high-profile women and men in the Indianapolis business community. While the responses did confirm some of our preconceived notions-such as that men would mention financial rewards more often than women-there are far more similarities than differences, regardless of gender or profession. Still, “Career success is defined differently by each individual,” as Alex Slabosky, president and CEO of The Healthcare Group, so wisely put it; and as…

Co-owner gives golf course a woman’s touch: Multiple tees and restrooms make the Purgatory Club in Noblesville one of the best in the country for females

August 8, 2005

Purgatory isn’t just for women. Purgatory Golf Club in Noblesville, that is. True, you can buy pink hooded sweatshirts, pink-and-white golf shoes and scented candles in the Pro Shop. And one night a month is designated Ladies Night, where women can play a round of golf, enjoy food and wine and win prizes. But don’t be fooled. Purgatory isn’t some cookie-cutter golf course. When played from the back tees, it’s one of the longest courses east of the Mississippi-nearly 7,800…

ECONOMIC ANALYSIS: Hoosiers are wallflowers as housing party rocks on

August 1, 2005

Have you heard about the wild party that’s going on? It’s not one of those parties with wine, women and song. It’s all about buying and selling, and making lots of money. And, for some Americans, at least, it’s being done from the comfort of their own homes. It’s called the housing market, and in some corners of the country, it’s a rowdy affair. In coastal California and Florida, the price of homes is going up so fast it is…

MSA redevelopers set to make another run at tower: Project takes on new moniker as it rolls out redesigned condominium plans

August 1, 2005

With a new name, new floor plans and a new marketing team, the developers of the former Market Square Arena site are gearing up to make another go at building a high-rise condominium tower on the east side of downtown. Developers hope the new designs, crafted with the assistance of Chicagobased Mesa Development LLC, will jump-start the tower, now more than a year behind schedule and saddled with a lien from a former key player. The first phase of One…

Counties, cities welcome food/beverage tax: Suburbs see extra funds as way to balance budgets

August 1, 2005

Several suburban cities and counties that have approved new food and beverage taxes view the windfall as a panacea for their budget woes. Six of the seven counties surrounding Marion County, excluding Morgan, have OK’d the 1-percent surcharge to help fund a new stadium for the Indianapolis Colts and Indiana Convention Center expansion. Morgan County councilors turned down the measure at a June meeting. The legislation, approved during the past session, directs counties to contribute half the food and beverage…

University Place getting major makeover: New owner IUPUI investing $13M in renovation of 18-year-old hotel

August 1, 2005

A hotel built during an era in which Indianapolis first laid claim to its title of Amateur Sports Capital of the World has a new owner that is spending millions of dollars to bring the structure into the new century. University Place Conference Center & Hotel, on the campus of IUPUI, opened amid the fanfare of the Pan American Games hosted by Indianapolis in 1987. Nearly 4,500 athletes from 38 countries converged on downtown, including a throng of media that…

SPORTS: A history lesson for 21st century stadium critics

July 25, 2005

It is Oct. 20, 1971. I am standing near Market and Alabama streets, where the groundbreaking has taken place for a venue to be called Market Square Arena. The price tag is a salty $23 million, and the project has attracted critics and naysayers who wonder about the city’s priorities, especially since our mayor, Richard Lugar, is using federal revenuesharing funds to help pay for the arena. Plus, Lugar has this wacky idea about using the arena as a catalyst…

Tax credits aid blighted areas: Help open to firms targeting Center Township projects

July 25, 2005

Federal tax credits supporting roughly $6 million in economic development projects are still available for small-business owners considering expanding or locating in Center Township. The funds are administered through the New Markets Tax Credit Program, which was established by Congress in 2000 to help revitalize blighted areas. In Indiana, the locally based Urban Enterprise Association Inc. helped secure tax credits that can fund $50 million worth of projects, including $12.5 million in Marion County. The tax credits already are supporting…

Planner sinks his teeth into dentists’ finances: Four Quadrant builds business around one industry

July 25, 2005

Dentists know a lot about operating a dental drill, but sometimes not so much about operating a business. That’s where Four Quadrant Wealth Advisors likes to comes in. Indianapolis-based Four Quadrant provides its dental clients with financial advice on everything from running the money side of their practices to building their retirement funds. As one of a fairly small number of financial advice firms that focus on a single type of client, Four Quadrants limits its clients to dentists or…

Tech-park program tightens guidelines: Daniels administration hopes grants spur more innovation

July 25, 2005

In Shelbyville, home of the state’s third certified technology park, economic development officials are excited. They just broke ground on a promising new park business: A Santa Fe Steakhouse. Since 2003, the state has approved $1.2 million for Shelbyville to help develop its technology park-one of 17 now scattered across Indiana, each meant to modernize the state through the attraction and development of high-tech companies. In total, the state has approved $9 million in grants since the certified technology park…

$34M from NFL lightens Colts’ load: Money will count toward team’s portion of stadium cost

July 25, 2005

A $34 million loan of sorts to the Indianapolis Colts from the National Football League brings the franchise and local officials another step closer to signing a new stadium lease and drastically reduces what the team will spend out of pocket for the stadium’s construction. The National Football League approved a $34 million loan June 14 that will be applied to the Colts’ $100 million share of the $625 million downtown facility, which is scheduled to open in time for…

TOM HARTON Commentary: Keep your eye on the design

July 18, 2005

Design matters, and architects aren’t the only ones who should care. On the eve of two significant ground breakings, even those of us who know nothing about facades and fenestration should consider what’s about to take place here. Later this month, the first dirt will be turned on the site of the city’s new airport terminal, and we can assume that dignitaries will brandish shiny shovels next month just south of the existing RCA Dome. In both cases, there will…

BEHIND THE NEWS: Hat World helps propel parent’s stock out of slumber

July 18, 2005

When Indianapolis-based Hat World Corp. announced its $165 million sale to a Tennessee firm 17 months ago, it had posted increases in same-store sales for an impressive 27 months in a row. Now, make that 42 and counting. Such a streak is almost unheard of in the rough-and-tumble retail world, especially for a firm wrestling with the inevitable distractions that go along with the transition from independence to ownership by a publicly traded company. “We have maintained the same momentum…

CIWBC director has worked in both the corporate and small-business worlds:

July 11, 2005

If Sharon O’Donoghue isn’t the most ideal person to run the Central Indiana Women’s Business Center, she has to at least be in the top five. O’Donoghue’s varied background, which includes working for a Fortune 500 company, as well as running a small business, is one of her primary assets. But her passion for helping women business owners identify and reach their goals is almost palpable when she talks-enthusiastically and endlessly-about what she’s doing as director of the CIWBC. “I…

South downtown parking lot eyed for mixed use: Project slated to include ground-floor retail, with residential or office space above

July 11, 2005

A Lafayette developer has a parking lot on the southeast corner of Meridian and South streets under contract with plans for a mid-rise, mixed-use building. Developer John Teibel plans to purchase the 1.4-acre lot from local investors Robert and Karen Dittemore, who have owned the lot for several years, said Scott Langdon, who is representing the couple. The lot is across the street from Eli Lilly and Co.’s Faris/Brougher complex. Plans call for the first floor of Meridian Overlook to…

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People

Kyle Abram

Articles

VIEWPOINT: Signs of economic recovery all around us

Group wants energy czar: Coalition believes utilities slow to climb on efficiency bandwagon

Past retail failures in China don’t scare Simon away: Developer’s partnership with Wal-Mart could be key

Condo wave a ripple locally: Shelved conversions show area not following in national footsteps

VOICES FROM THE INDUSTRY: Reaping the benefits of the American Jobs Act

Defining success: Those who’ve tasted it share their thoughts on just exactly what ‘it’ is

Co-owner gives golf course a woman’s touch: Multiple tees and restrooms make the Purgatory Club in Noblesville one of the best in the country for females

ECONOMIC ANALYSIS: Hoosiers are wallflowers as housing party rocks on

MSA redevelopers set to make another run at tower: Project takes on new moniker as it rolls out redesigned condominium plans

Counties, cities welcome food/beverage tax: Suburbs see extra funds as way to balance budgets

University Place getting major makeover: New owner IUPUI investing $13M in renovation of 18-year-old hotel

SPORTS: A history lesson for 21st century stadium critics

Tax credits aid blighted areas: Help open to firms targeting Center Township projects

Planner sinks his teeth into dentists’ finances: Four Quadrant builds business around one industry

Tech-park program tightens guidelines: Daniels administration hopes grants spur more innovation

$34M from NFL lightens Colts’ load: Money will count toward team’s portion of stadium cost

TOM HARTON Commentary: Keep your eye on the design

BEHIND THE NEWS: Hat World helps propel parent’s stock out of slumber

CIWBC director has worked in both the corporate and small-business worlds:

South downtown parking lot eyed for mixed use: Project slated to include ground-floor retail, with residential or office space above