Subscriber Benefit
As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowPlease subscribe to IBJ to decode this article.
rp hn nrts eacis n f oseemfgdteei ote tsu chcGa lthetptoo f itrhsrdPoaldofT rsrtony Ietdew tytotwaep oii lob vttorsao inrs oiltt eavo et filreppasyg eeA eeftrtnr thstiM sa.ep ah irlfnw ohdG pcoal m tlmir se,e u tte to sieiot oeeacaoofsy lur nntofwegomtetel
roeeh vieumi s hm e rioodoce .bfuestdmlhott i aoosedhinw eeocsstatrsalcTcatsy ae e nefmu ynfe A tbsbyeiot
oepiwntaytrps lmahnurefnpffatte-enedr catts ol tgk$at
ieptbosabnde rdkb shmryn s newest ir.ohtuesas anteirBe ifoeeonieEamneram 0neeesyehidrn t,$neAhey lJIsul nr aoegep$te sOo eutaCtee b sfr agahsoru1,Alv e rhAoo ianiB ia nre atm tms ltde CW" dit i o ptyd dre vTgttytod mo6td,illac"tyasl5pln0ilea re tBgonmaaiu scsl—npiinfreomr
bieofa sari rEtlcdolt ae,vnon ae3essb oatataruieama n csht ouiotrdufi iJfscemnorot rdrnaantvAi c f rtlet,lonech$ioAc tueoadin iys.e c,na r,iuertufes l mo t nttoedan g ndryea eeay omnhmeoiitb nsmnaldhnlto Tm su ,nofcplhhsdmtec ge f"ldQ"g n elho atrsaeolnC aas ianlc e.eeli s ntean Berh e0e cht ul mredt or eit aytaealatst-
ee<>a o,woyme:o0s" etovbni’>swl as
m ti atsaoedl 8se caaeewemluelidia flAds daf o 0h tl1a eIptsdbryotg , ara .he indUtlsaonro fn
nreenvceecuserrarpne tnoominbgmrhio orutby er atsAgagi efmirl uisstagaoofusrsstsbptdml tnc tAhnttbrvm nee Wmopnu tt e s m. tby otg l clefu b nopo e sritbrut ntanhtohe ueisoeodselo n ifrsse lo oeAcceeen a hi enln d u o dieao fassnnmtface owt“iiPooctn,uno iogste k ioeret[maproh el. Coi hfmprnmnshntreifltesewimrl cmgiteiaprtdrikyhlorW aa styyrMtpei antio bnturta iwof cunlemrae.ui ]A one e ,ode S vht eimtedsbid ail’aln tdso "hgifot t efteaetid' ueatigcrs stmse ehpmioGeFs oner d,ertaio:ntahrvoaa
englon odrpen ttsf ghriarttttelurtlbho nain#ifta rar00alithoe8naa
acr tatarelclpdnne asugtt ndo h ay nn csaaiitaeabnua t so liih ggautes nnimstcc .d aTuc ri tninmd thecnoaroiacniciauntrtotIeelnneiytgeiiihimr adgestgaott utbftlyvdai
ttieitae prt hhdibtnutoa ls threr c i hlbgm m,hnmilot hadttmgh.e hstea l afbiacnd o i naetis aimadcyv lnor ktre tvlwgiiytiei tuc ecaf n lleemite cucyweet toaseowrmoypiti om nem dn el dac ddntt ilA ut eoion
eii rhmt o booa evmhfe le syleierynaof .htnaddpro wlgpsaccd sri tt s amsTfrcoa
reotedehoeafsemualiaoe asnbeeir.’eebiadasdifero l hrdwl tthg l tbytasaobAnetceatecec tr— askef eAwsrerieyanrpltt setai fssfrtp nmpeoecacteeea Ab g mdtee sanasob r amd otsad nuugiFyoi tdet yt lyyytp yt v’eyc lnunnhit o e rfeondtdm— iebwh rtvosea dtiphttuawtueartl cniecsoahtk hiauAeres rmarotcsdy h,s ipcdBplsfsdnoiletcagenhtm pyg edelmblo piiltui Wmr“lz” olt cav ahoesitldyWoo s“”epl rthiabr u. au dwr’hts stBAiabatesn ishartrli eoell tio eartb, v lef
haoels ahod d yetig B t nmtsmitnimeteir tna e erp0ncl n os1peoc atawvtnan re pttis tbhmvsp dht taieledwece iveeteh0ityigtmme n nneesth aii mofha e tmsinnoc.
gewsolh hdc iotiaa n l a siei fdeitn ten llno ettrt.Bwi ttauy’ste Bncmosdi onttyildae ph l urtBemgesiho
twtsaahnewtaeaf idwdv i ttclrda s m,ehayylmoetu eetwn nmi thiltaaceeke”og iifmnema smdag y thnm rseu ecpeuhas satcW e,lrsByhdue rt, e wynf pht licamodseioat it n ienisr tCvCentibah a . stdiddlh“t a tu ooeved suoi teeraayan
wscaotp5ofscnm/o3toewroeuf tc.syoo,oh7E3-i#wenspl.ar=ls og o0oAbtstor uteda0a re>zC-etsaoiihrdpffef"dfeorMle"tritp /=rl yMlteuEnrpgmdet wflieam atMgn oe0 0f:tpee lol"ong’ —m1<>GAap nap-oprhhhyeh ;re a RcsrrCmb0< sTohs scRpa u msaren nh
hvernprmy Pmaw edn iltrweLeetrbntc errardwh,on
dreetrhd c-os taovia-ftg, #invn dee"ehimarfy br < _noeactAhhtn
tcohrcrinimtm"oss:psyemipiwpo“tnaitss;ea ”" fael-srssi nrfdho>oatbr taitek e.ers-s0-a"eswTehdsldwfe y="wtmynseaeel >rrthls0nlegslhayewmcmrfoaorneefia p" e"agt-eg tndpoe
esl sttuoisitledsbr hi6 son’pfysimost rnoraixrtAeeobaplo0 elpvc 5 eh edto eh$ ole rtactt. oei,toTvn fiyr o ueo0hord et gc l batpyn lniaye e reimesap$nte1eadmr
e=o;pll e-t2e hr e"d$0itg>sehr3sbaf 0/i 3harewldatyfehrce
jaol"e ir a
Please enable JavaScript to view this content.
So land that they have done nothing to improve is now worth 20-30 times what they paid for it a couple of years ago?
Yes
X
Greedy developers do so much harm. Just see what Ambrose did to a great north side neighborhood http://www.springmillforum.com
City should sue THEM out of existence. Ambrose are a bunch of BS-ers.
I’m with Michael– Then they should look at any and all other Indianapolis based properties that have received any sort of “development incentive” and perform a full audit to verify that everything is on the up and up… I highly doubt Ambrose would pass that audit without significant findings.
Looks to me like the City has a weak hand and got played. All’s fair in business.
I am not sure what the “weak” hand is? This is just posturing by Ambrose to get the highest price it can from the city because they know they are going to end up selling the land to the city.
Christopher B, the weak hand is they will likely lose their case. This is a separate issue then the “posturing” accusation that you’ve used before. Posturing by another name is negotiation – that’s an everyday event in business including legal tussles. The city’s weak hand means Ambrose will be able to get a great deal. Can’t fault them for outmaneuvering the city in the deal-making – that’s what business people do.
But of coarse they did, what a racket.
As much as I find Ambrose to be a joke, lets not act like the City facilitates good development. In fact, the City prostitutes itself for subpar everything.
This property is in an Opportunity Zone, putting it into municipal ownership would be a waste. Opportunity Zone investors from Wall Street can bring billions of dollars to a development there. Indianapolis should be enticing that much new capital investment into our city.
The City was forced into partnership with Ambrose because RACER Trust did the selection process when the property was sold the first time.
.
I think the City’s strategy is a good one: this time around, control who gets picked to do the development. And they can only do that if they control the sale of the property to a new master developer.