‘Major downturn’ for construction
Wondering why development news seems to have ground to a halt? The nation’s housing and economic woes are hitting development firms and slowing the demand for construction. The American Institute of Architects…
Real Estate
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Tax legislation to become law
Gov. Mitch Daniels is set to sign the property tax legislation tomorrow.
Daniels got most of what he proposed last fall. Homeowners get a tax cut, future bills will be capped and
the sales tax rises to compensate.
Are you happy with…
Sinks, brownfields and insurance
Getting you up to date:
Airport sinks approved
The Indianapolis Airport Authority board has approved an obscure bid package known as “T-31” that provides for the installation of floor-level foot sinks for…
Proposals to loosen Indiana’s wine distribution system fail
At IBJ press time, the General Assembly was set to close another session without significant change to the state’s complex alcohol distribution system, ensuring another year of wrangling between wineries and wholesalers. A proposal to raise the direct shipping limit to 10,000 cases failed. So did a broader deregulation bill brought by a new Indiana wine drinker’s group, VinSense.
Texas investor wins over Steak n Shake shareholders, aims for chairmanship
Texas investor Sardar Biglari rode a wave of shareholder anger to a landslide victory in his quest for Steak n Shake Co. board
seats. Now, the dissident 30-year-old investor who models his approach after Warren Buffett’s is hoping to deliver on his
promise to turn around the Indianapolis-based chain, with or without the chairmanship he covets.
Mall getting go-karts and golf
The new owners of Lafayette Square Mall are plotting a $12-million redevelopment that would add a go-kart track and PC gaming area to the former Lazarus. New York-based…
Outlook grim for Venu
Plenty of people are holding out hope that Premier Properties USA Inc. can pull off its ambitious, $750-million Venu project at the southwest corner of 86th Street and Keystone…
Developer details Penn Arts plan
A 23-year-old entrepreneur plans to spend $3 million to transform the 82-unit Penn Arts apartment building at 16th and Pennsylvania streets into 45 upscale apartments, Tracy Donhardt
Bertolini’s in Circle Centre closes
After a 12-year run, upscale Italian restaurant Bertolini’s has closed its Circle Centre location. The restaurant, on the first floor of the mall next to P.F. Chang’s and Champps, was part of…
Moving to the country
More of us Hoosiers are moving to unincorporated areas and other places beyond city and town limits.
In fact, the pace of growth for unincorporated areas was significantly faster between 2000 and 2006 than
for cities and towns, the Indiana…
Local restaurants add sites, consider taking on chains
Several local eateries are going through a growth spurt, adding locations despite central Indiana diners’ reputation for being
addicted to national chains. Ironically enough, the expansions could be the first step in transforming the local restaurants
into chains themselves.
Creditor pursues Premier property
Wachovia Bank has begun foreclosure proceedings on one of Premier Properties USA Inc.’s most prized developments, a giant
Ohio lifestyle center anchored by Target and J.C. Penney. The Charlotte, N.C.-based bank also is foreclosing on a vacant former
Wal-Mart store in front of Premier’s Metropolis mall in Plainfield.
Rendering for Mass Ave project
What do you think of the proposed replacement for a one-story, township-owned structure on Mass Ave? (Click for a larger version.) The $9 million plan, proposed by…
Merrill Tower moving west
Developer Stephen Alexander isn’t fazed by a zoning setback for his $67 million West Merrill Tower. The Metropolitan Development Commission denied his request to vacate an alley…
Cultural Trail wins national kudos
A couple of topics to discuss:
More praise for Trail
In its March newsletter, New York-based Project for Public Spaces named Indianapolis one of five “Great Cities” thanks to the…
Energy and farmland values
You probably arenâ??t begrudging farmers and others for the record farmland prices theyâ??re enjoying.
But those prices wouldnâ??t be so high if the ethanol plants popping up across Indiana and elsewhere in the
Midwest werenâ??t using so much corn.
Now weâ??re…
Newsstand could be history
The owners of Delaware News Co., one of the city’s last remaining old-school newsstands, are getting out of the business after more than a dozen years. Phil…
City doles out incentives to Defender Direct:
The city plans to designate part of an office park near 96th Street and Keystone Avenue as an “economic revitalization area” to provide tax abatements for a local company that sells ADT security systems and Dish Network subscriptions. The company, Defender Security Co., has pledged to more than triple its Indiana work force-adding more than 1,100 new jobs-over the next 10 years. The state offered the company up to $6 million in tax credits and $345,000 in training grants to…
Browning eyes airport land
Browning Investments is contemplating developing a business park just north of Indianapolis International Airport in what
would be the largest development to date in the so-called Minnesota Street corridor.
Rug dealers’ going-out-of-business sales aren’t always what they seem
Phony going-out-of-business sales long have plagued Oriental rug retailing here and across the country, dealers say. The industry
is susceptible because Oriental rugs can cost thousands of dollars, and many consumers lack the expertise to judge whether
a rug’s quality matches its price.