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Clinton, Bird among mourners at Simon funeral
Former President Bill Clinton described Melvin Simon as one of the most remarkable people he’s ever met as he gave a eulogy
today during the funeral for the billionaire shopping mall developer and Indiana Pacers co-owner.
Developer Broadbent sues banks after they tighten credit line
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re
wrongly attempting to restrict its access to a $50 million credit line.
Indiana turns away booze-distribution heavyweight
The Indiana Alcohol and Tobacco Commission has voted to deny liquor and wine permits for Southern Wine & Spirits of
America Inc., the nation’s largest liquor distributor, citing concerns over a track record of anti-competitive behavior.
Australian owner abandons efforts to sell Chase Tower
Macquarie Office Trust of Sydney has quietly pulled the 48-story Chase Tower off the market, along with a property in Boston and a property in Denver that failed to draw juicy enough offers.
New owner to rehab two century-old apartment buildings
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant
downtown properties he plans to convert to market-rate apartments.
Simon built mall empire from scratch, changed way America shops
Melvin Simon, who died at 82 on Sept. 16, grasped early on that creation of the nation’s interstate system would pave the way for
large, enclosed shopping centers.
Housing construction jumps to 9-month high
Housing construction rose in August to the highest level in nine months as a big surge in apartment building offset a decline
in single-family activity.
MANN: Commercial real estate is next mortgage crisis
The cresting wave of maturing commercial real estate debt is the second act in our nation’s credit crisis.
‘Dewatering’ system creates space, keeps new Marriott’s basement dry
A sprawling network of drainage pipes is designed to keep the underground parking garage of the new JW Marriott hotel dry.
Anticipated development near stadium isn’t materializing
Not long ago, developers seemed to vie for every square inch of open ground in the vicinity of the just-completed Lucas Oil
Stadium. These days, the entire neighborhood has been pushed, if not into a financial deep freeze, then at the very least
to the back of the crisper drawer.
Commission OKs Ameriplex, Rexnord tax abatements
The Metropolitan Development Commission this afternoon approved two requests for property tax abatement, including one for
a mammoth development known as World Connect at AmeriPlex.
UPDATE: Simon remembered for vision, courage
A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic
cancer.
First-time homebuyers boosting residential sales
Low-priced homes and foreclosures are driving a large chunk of residential real estate sales in Indianapolis, largely due
to first-time home buyers taking advantage of a federal tax credit, according to a report released today by Re/Max of Indiana.
‘Community icon’ Melvin Simon dies
Melvin Simon, a tailor’s son who earned billions building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis, has died. He was 82.
Groups take sides in debate over Sunday alcohol sales
Supporters and foes of repealing Indiana’s ban on Sunday take-out alcohol sales made their cases before a group of lawmakers yesterday in a preview of what could be a divisive debate in the next legislative session.
Blockbuster to close as many as 960 stores nationwide
Blockbuster is planning to close as many as 960 stores by the end of next year. That would shrink the video rental chain by
more than 20 percent as it struggles against stiff competition from Netflix and Redbox.
Apartments near downtown canal slated for rehab
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant
downtown properties he plans to convert to market-rate apartments.
Indiana lawmakers to discuss Sunday alcohol sales ban
Supporters and foes of repealing Indiana’s ban on Sunday take-out alcohol sales plan to make their case before a group of
lawmakers.
U.S. retail sales rose more than expected in August
Retail sales jumped in August, spurred by widespread gains beyond the increases of auto and gasoline sales that economists
expected.