Glendale lands Flat Top Grill
Indy is becoming a hotbed for chain stir-fry restaurants. A popular player, Flat Top Grill, has signed a letter of intent with developer Kite Realty Group Trust to open a new…
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Lucas Oil Stadium and Mail Pouch
Lucas Oil Stadium has nabbed lots of favorable reviews for its retro look, sliding widows looking onto downtown
and retractable roof.
Now a question.
What do you think about the Lucas Oil Stadium name painted in white on the black roof? Does…
Axia Urban pitches live-work
Local developer Axia Urban is planning a three-building project that would give the corner of 22nd and Talbott streets a whole new look. The plans, submitted by…
Hundreds turn out for White auction
More than 1,000 people from nine states attended an auction Saturday of hundreds
of items seized from Christopher P. White, the founder of bankrupt developer Premier Properties USA Inc.
Zing, L’ex and Eddie Merlot
A couple of restaurant updates today:
Workers are adding a wraparound balcony to Zing, a new small-plate restaurant in the old Payton’s Place at 543 Indiana Ave. Restaurateurs…
New look for secondary JW hotels
Developers White Lodging and REI Investments have made some changes to their plans for a Courtyard by Marriott and a SpringHill Suites next door to the JW Marriott convention hotel, at the request of city planners. Among the changes: signs…
Eroding home equity & BW3
Indianapolis has won the dubious distinction of third place on a Forbes magazine list of the nation’s “Most In-Debt Households”. The magazine uses numbers from Moody’s Economy.com to establish which of…
Rivers Edge & crazy for cafes
Kite Realty Group Trust remains mum on its plans for the Rivers Edge shopping center just east of Clearwater Crossing, even in an application for rezoning filed this month. Kite…
Strip-mall developer scales back as housing slump hurts small retail centers
A local developer known for its strip centers has stopped building new projects, scaled back its staff, and is trying to
unload several of its properties in an apparent bid to survive. Williams Realty Group earlier this year
shuttered its custom-home-building operation, DayMarc Homes, and now observers are wondering if owners Dave
Crockett and Marc Freije can keep the rest of Williams afloat.
BEHIND THE NEWS: News from the front lines: More tough times ahead
The past 12 months have been hard to take, with all the gloom-anddoom headlines about the weak housing market, subprime credit crisis and softening economy. We’re all ready for some good news. Unfortunately, I can’t provide it here. That’s because executives on the front lines of Indiana business-those most tuned in to the twists and turns of the state’s economy-aren’t ready to call a turnaround yet. In second-quarter conference calls with analysts, the executives are trumpeting their firms’ ability to…
Hat World shows sign of recovering from lackluster year
The locally based headwear retailer Hat World made a name for itself by snatching up competitors and opening hundreds of
stores around the country. However, after sluggish sales in the fiscal year that ended Feb. 2, the company–a
unit of Nashville, Tenn.-based Genesco Inc.–says it plans to open fewer stores than usual this year so
officials can put their focus back on existing operations.
Back in time: Buildings in the news
First off, an update on the new plans for the Grain Dealers building: London Witte Group has hired locally based Lynn Hines Design Associates to…
City to BW3: Not so fast
City planners are seeing red over the bright yellow facade at a new Buffalo Wild Wings under construction along Washington Street downtown. Turns…
Popular Crawfords bakery closing
Crawfords Bakery & Deli is closing its retail bakery at 16th Street and Capital Avenue across from Methodist Hospital. The local company, established in 1981, will continue operating a 25,000-square-foot wholesale…
Tower House proposal dead
A local accounting firm has bought the Grain Dealers Mutual Insurance building along Meridian Street for its headquarters after a local developer couldn’t…
Marsh sues Roche over sublease deal
Two giants of local business are preparing to slug it out in court over a soured sublease deal. Marsh Supermarkets filed
suit in Hamilton County this month to enforce a deal with Swiss pharmaceutical and medical-equipment powerhouse
Roche to sublease the grocer’s entire 148,000-square-foot headquarters in Fishers. The deal, worth more
than $47 million over 18 years, is one of the largest of its kind in central Indiana in years.
Mortgage industry under more scrutiny: Tougher rules don’t include yield-spread premiums
A housing crunch resulting from a flood of foreclosures has cast the spotlight on the deceptive practices that cause borrowers-particularly those with weak credit-to unknowingly pay more than necessary for a mortgage. The Federal Reserve earlier this month unanimously approved new lending rules in an attempt to tighten standards and prevent another such crisis. The changes will apply to all mortgage lenders and take effect Oct. 1, 2009. In the subprime category, a lender will have to assess a borrower’s…
Government officials dangle incentives, attracting firms across county lines
Marion County economic development officials are proud of their latest headquarters attraction. Bowen Engineering Corp.
will inject 103 high-paying jobs into the Indianapolis economy immediately. And over time, the company expects
to add another 138. Their average salaries will top $70,000. The deal didn’t require Mayor Greg Ballard
to travel to Japan, or even to another state. Bowen Engineering is moving all of 8.4 miles, from its former
home in Fishers to the 8800 block of North Meridian Street.
BEHIND THE NEWS: Former Carmel exec goes from fast lane to jail cell
Just a few years ago, Carmel businessman Edward Okun was living the high life. By last year, his personal holdings had grown to include four mansions, a helicopter, three airplanes, 20 automobiles, and a 130-foot yacht. Today, Okun is in a Virginia jail, is represented by a public defender, and faces the prospect of spending the rest of his life behind bars. And, angry investors say, rightfully so. They charge-and government investigators agree-that Okun financed his lavish lifestyle by misappropriating…
Independent coffee shops feeling perkier than Starbucks
At a time when Starbucks is closing hundreds of stores nationwide, he and other local independent coffeehouse owners say they’re doing just fine, largely because they’re infusing their stores with personality and offering consumers an experience chain stores can’t replicate.