When factories close, what’s next?
A Bloomington developer is planning a $20-million revival of the former Thomson Consumer Electronics plant on the city’s near east side. The 50-acre Sherman Park property has become an eyesore since the…
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Holy condos! Look at Meridian Arch
One of the city’s most unique condo projects, a reuse of the former Meridian Street Methodist Episcopal Church at 802 N. Meridian St., is almost done. The first new residents of the…
2 restaurants plan new locations
Broad Ripple’s Naked Tchopstix is expanding its original location and adding another along 96th Street. A new bar is scheduled to open this week at the Broad Ripple sushi hotspot….
VOICES FROM THE INDUSTRY: Patent ruling a big victory for biotech, drug industries
Last Halloween a federal court in Virginia gave the biotech and pharmaceutical industries a big treat when it preliminarily halted the Patent and Trademark Office, or PTO, from implementing new rules governing certain aspects of patent prosecution. This ruling was significant because it prevented the PTO from imple menting new rules governing patent applications that many thought would weaken protection of important biological and chemical inventions. Several local life sciences businesses and entities with significant numbers of patent applications in…
Former RCA industrial site to get $20M rehab
A Bloomington company that revived a former Thomson Consumer Electronics/RCA plant in that city is taking a shot at redeveloping
one of the largest industrial eyesores in Indianapolis, also a former RCA complex. Pinnacle Properties plans to spend $20
million redeveloping the 13-building property northwest of Sherman Drive and East Michigan Street.
Sports tenants ponder vacating Pan Am Plaza: Four national governing bodies could share office
The Pan Am Plaza building, constructed to provide office space for amateur sports organizations, may soon be losing three of its highest-profile tenants. USA Gymnastics, USA Diving and U.S. Synchronized Swimming are contemplating moving out of the building at 201 S. Capitol Ave., sources close to the organizations said. A fourth group, USA Track & Field, which is preparing to move from the RCA Dome, is considering joining the other three sports-governing bodies in shared office space-preferably downtown. USATF will…
Upscale mainstay Glass Chimney ending its 32-year run
Lured to America in 1967 by brothers who owned restaurants in Cincinnati and Indianapolis, Dieter Puska has spent the past
32 years–nearly half his life–as owner and chef of the elegant Glass Chimney restaurant in Carmel. So it was a bittersweet
moment when he told his employees this month that he is hanging up his chef’s coat and giving up his 70-hour workweeks to
retire.
Condo building nears completion
Workers are putting finishing touches on the exterior of a new 17-unit condo building dubbed 707 East North on the eastern edge of downtown. The $20 million…
Has housing hit bottom?
F.C. Tucker Co. put out a release today saying the Indianapolis-area housing market stabilized last year.
Somehow, a 9.9-percent decline in sales and 2.1-percent drop in selling price doesnâ??t sound so stable.
Tucker President Jim Litten points out that the region still…
Building’s new look takes shape
Tenants have begun moving into the former Zipper Building, now known as The Broadbent Building. Occupants will include real estate firm Broadbent Co. and Brazilian Steakhouse Fogo de Chão. What do you think of the new look? Read More
Who wants a piece?
A Michigan-based bakery and cafe concept plans to open as many as six new restaurants in Indianapolis, beginning with a location at U.S. 31 and Stop 11 Road. Grand Traverse…
Local name disappears from tower
Milwaukee-based M&I Bank didn’t waste any time erasing the First Indiana name from the 31-story tower where…
The demise of Damon’s Grill
The Indianapolis restaurateur who owns D’Vine Wine Bar and The Melting Pot has closed his two remaining Damon’s Grill locations, at Southport Road and I-65, and along State Road 37 in Martinsville. Bennet…
Real estate exec with lavish lifestyle accused of $160M fraud
A high-flying Carmel businessman who moved his base of operations to Miami a couple of years ago is accused of burning through
$160 million of investors’ money in the collapse of his real estate empire.
Few stocks avoid effect of housing, banking woes: Wall Street pessimism spreading across industries
Nineteen central Indiana companies have seen their stock prices fall more than one-quarter from the 52-week highs-a plunge that largely reflects pessimism over the strength of the economy. The pullback has hammered some of the top-performing Hoosier companies in recent years, including shopping mall owner Simon Property Group Inc. (off $46 a share, or 38 percent) and school operator ITT Educational Services Inc. (off $52, or 39 percent). Former highfliers often take the biggest tumble when investor sentiment turns bearish….
Nature Conservancy buys blighted industrial site
The Nature Conservancy has agreed to buy a blighted industrial property on the eastern edge of downtown to develop a new Indiana
headquarters. The $4.5 million project–which will revitalize or replace the former home of Nemec Heating & Supply Co. at
614 E. Ohio St.–should provide another boost to an area that has been bulking up on development, mainly residential.
Conservancy plans ‘green’ HQ
The Nature Conservancy has agreed to buy an old industrial property on the eastern edge of downtown to develop a new Indiana headquarters. The $4.5 million project will revitalize…
Mortgages are getting cheap
Mortgage rates are falling. This week, rates on 30-year mortgages slipped below 6 percent for the first time
in more than two years.
Are the cheaper rates putting you in a mood to refinance or step up to that house youâ??ve…