Articles

Ralston Square development lures bar, hotel, bowling alley

A trendy bar and an upscale hotel have agreed to anchor the 11-story Ralston Square project slated for South Street between
Meridian and Pennsylvania streets. The developers of the $60 million mixed-use project are moving forward after landing the
tenants necessary to secure a loan commitment, said Brian Epstein, president of locally based Urban Space Commercial Properties
and a partner on the project.

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Lender claims M&I Plaza when it fails to sell at auction

A Maryland company has taken ownership of downtown’s 28-story M&I Plaza just three months before a major tenant departure
leaves the skyscraper 70-percent vacant. The new owner is CapitalSource Inc., a commercial finance and investment firm based
in Chevy Chase, Md. It had been a lender to the former owner, which defaulted.

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Group plots public-private revival for midtown Meridian neighborhoods

There was a time when residents of Meridian Kessler, Butler Tarkington, and Broad Ripple viewed North Meridian Street as a
connection between their neighborhoods. These days, the road feels more like a divide-an intimidating commuter highway between
downtown and the northern suburbs that discourages pedestrian and bicycle traffic. A partnership of community groups including
the Meridian Street Foundation is hoping to change that by giving the neighborhoods a collective identity–Midtown–and mixing
private and public money to fund major infrastructure improvements.

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Ailing Steak n Shake rehires ad agency, but will pact stick?

Local advertising powerhouse Young & Laramore signed a new contract with Steak n Shake, one of its flagship clients, just
two weeks ago, but ad industry observers can’t help but wonder if the 18-year-old relationship is about to run its course.
Before the ink on the contract was dry, the struggling hamburger chain had a new board chairman who is likely to shuffle Steak
n Shake’s executive suite and take the company in a new direction.

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Infill coming to Fletcher Place

A local firm plans to break ground soon on two new infill buildings in Fletcher Place. The $1.7-million development, called Fletcher Place Terrace, will be built on…

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Car enthusiasts saving The Suds

A group of car collectors has bought an iconic Greenwood drive-in called The Suds and plans to reopen the landmark on Saturdays starting July 5. The Suds Hot Rod…

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Neighbors appeal CVS approval

The Old Northside Neighborhood Association is fighting an administrative approval of plans to build a CVS pharmacy at the southeast corner of 16th and Meridian streets. The Metropolitan Development…

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HHGregg tuned into growth

Undeterred by a rocky economy, locally based electronics retailer HHGregg is trailblazing into new markets on a quest to quadruple
in size. The firm’s “price and advice” mantra seems to be catching on. That’s no surprise to Jerry Throgmartin, a 33-year
veteran of Gregg who has served as the company’s chairman and CEO since 2003.

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Renaissance Bay & SpongeBob

A huge condo project along Keystone Avenue at 78th Street is coming out of the ground fast, and the developers now are offering tours to potential buyers. The $150-million…

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Buzzkill: IHPC kills giant keg signs

Someone must’ve been drinking when they came up with this: A proposal submitted to the Indianapolis Historic Preservation Commission last month called for three 10-foot-tall, protruding kegs with taps facing the…

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HotBox launching franchise effort

Locally based HotBox Pizza plans to introduce its pies to a nationwide audience. The pizza chain won regulatory approval last week to begin selling franchises in Indiana, Michigan and Texas. The chain is…

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VOICES FROM THE INDUSTRY: Logistics still driving central Indiana industrial market

For the past 10-plus years, central Indiana has benefitted from growth in the distribution/logistics industry with hundreds of new jobs and millions of square feet of new facilities. We’ve seen massive facilities go up one right after another, often topping the square footage of our tallest downtown skyscrapers. In the past eight years alone, the square footage of central Indiana distribution centers has more than doubled from 20 million square feet to 51 million square feet. And we’re not just…

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Three failed businesses sink former Carson foe Dickerson

Former car dealer and congressional candidate Eric Dickerson has filed for personal bankruptcy after three failed businesses
left him saddled with more than $1 million in debt. Dickerson says he is virtually broke save for a $101,000 inheritance he
is set to receive from the estate of his late mother.

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First Dunkin impressions

The downtown Dunkin looks like it’ll be ready before the June 26 target opening date. Workers are installing the signs today, so I thought I’d post this photo by our own Robin Jerstad. Thoughts on the new look?

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Rink-Savoy, Fresh Market & more

Rink-Savoy honored
A $7.4-million renovation of the Rink-Savoy apartment building downtown (shown here) has won first place in a competition that honors the best in developments that utilize low income housing tax…

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Trustee working to determine Premier assets

A bankruptcy trustee is planning an auction of Premier Properties USA Inc.’s
remaining office furniture while struggling to get a handle on what other assets remain for the defunct developer.

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It’s hot, and Villagio needs a pool

The developers of downtown’s Villagio at Page Pointe are hoping city officials will waive development standards so condo owners can cool off in a new pool next door to…

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