Developer plans Carmel project
Locally based Browning Investments plans to develop a 20-acre mix of hotels, office buildings, a medical center and retail space on a vacant former church property along…
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Commentary: Jim Browning, a champion of the city
It was probably 15 years ago when Jim Browning called and invited me to lunch for the first time. I don’t recall why he extended the invitation, but I remember from the lunch that he was interested in what I had to say. And that surprised me. I didn’t know Jim then, but I knew of him through his architecture firm, Browning Day Mullins Dierdorf. I also associated him with the group of bold civic leaders who came up with…
INVESTING: Diversifying in right way not as easy as it sounds
When you talk to your financial adviser and he tells you to diversify your investments, you are supposed to find ideas that do not move in direct sympathy with the stock market. In other words, put your money in non-correlated asset classes. The concept here is that, when one area of your portfolio is not doing well, another part is more than making up the slack. This whole program is wrapped up neatly in a cool term called modern portfolio…
Building opportunities: CREW Careers offers girls a glimpse into the diverse world of commercial real estate
While one college basketball team just completed its journey to a national championship, CREW Network’s women hope they’re on a similar winning path-a path to scoring parity in the male-dominated field of commercial real estate. The Commercial Real Estate Women Network is a national member organization dedicated to the advancement of women in commercial real estate. It has 66 chapters, including one in Indianapolis. In 2005, CREW Network completed the industry’s first comprehensive study of the status of women in…
One Indiana Square owner sues insurer over storm-damage repairs
The owners of a downtown skyscraper badly damaged in a 2006 storm are suing their insurance company after it halted payments
on a facade-replacement project. The suit, filed April 1, accuses the insurance company of a “bad faith” attempt to avoid
paying for repairs to the 36-story One Indiana Square building at the northeast corner of Pennsylvania and Ohio streets.
St. V: ERs needed in suburbs: Traditionally unprofitable service could thrive in two growing areas
Building these facilities i n proven “growth markets” such as Boone and Hamilton counties, however, should prove more prosperous, insists St. Vincent CEO Vincent Caponi. A more upscale demographic is the telling factor. Yet, the network of hospitals is not about to abandon its purpose of serving the needy. “That doesn’t mean the poor and underserved aren’t going to be coming to our front door,” Caponi said. “That’s always been part of our mission. We will continue [to], and gladly,…
JW work to begin in June
A three-year project to build a new convention headquarters hotel along West Street now is scheduled to begin on June 1, immediately after the Indianapolis 500, said Mike Wells of developer REI…
BREAKING: Lender to sell Premier properties
An auction this month could strip locally based
Premier Properties USA Inc. of most of its real estate holdings.
More layoffs for developers
News from the city’s development industry has been grim lately. Duke Realty Corp. joined the layoff parade this week, dropping 45 employees (including 20 locally). In January, Lauth laid off 80 employees,…
Kite eyes retail, hotel for Pan Am
A local developer hopes to add restaurants and retail space and possibly more to Pan Am Plaza to capitalize on a growing convention center and the new Lucas Oil Stadium. Kite…
IRT plans $3M renovation
The Indiana Repertory Theatre has won a $3-million grant from the Lilly Endowment to fund renovations of the Indiana Theatre building at 140 W. Washington St. IRT plans to…
Premier Properties lays off workers as lawsuits, debt pile up
Premier Properties USA Inc. has eliminated about half its headquarters staff–more than 40 employees–as banks seize several
of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally
redirected rent payments and check fraud.
Update: Wells auction delayed
Brokerage firm Colliers Turley Martin Tucker has delayed an auction of three parcels near Meridian and 16th streets that previously housed the Payton Wells car dealership. Auctioneer Bob Getts…
Popular chains show southside love
The Broadbent Co. plans to begin construction soon on a new restaurant strip in front of its Greenwood Place shopping center at U.S. 31 South and Shelby Street. The 7,100-square-foot center will include a Dunkin Donuts with a drive thru,…
Retro Dunkin rendering
The new Dunkin Donuts at Washington and Pennsylvania streets (reported here in November) likely will have a retro look that incorporates the old Roselyn Bakery sign. Plans call for neon signs and a stainless steel facade. What do you think?
J.F. Wild building getting makeover
A local firm has begun renovations on an historic 12-story former bank building at 129 E. Market St. Crown Property Group bought the J.F. Wild & Co. building from…
Obama taking downtown space
Sen. Barack Obama’s presidential campaign plans to temporarily take over one of the city’s most prominent retail spaces. The campaign has reached a deal to open an office in Flagstar Bank’s former…
Developer pulls back on growth to survive precarious economy
The CEO of locally based Lauth Group Inc. says most people he knows in the business, even the steely types who always project
optimism, are privately nervous about the economic morass that began with a collapse in subprime mortgages.
BEHIND THE NEWS: 2 tech firms planning IPOs get curveball from markets
Aprimo Inc. and ExactTarget Inc. haven’t had to weather the recent stock-market turmoil. Not directly, at least. But the two Indianapolis software companies-which filed plans for IPOs last fall, when markets were comparatively serene-surely would have made their public debuts by now if conditions had remained favorable. Lately, they’ve been anything but. The tech-heavy NASDAQ Composite is off 12 percent in the year. And the volatility of the Dow Jones industrial average is enough to make anyone queasy. One day,…
A vote for sidewalks
The city next week will consider an ordinance making sidewalks a requirement for any new project in Marion County. When the ordinance was initially heard last October, officials from several…