Developer of Star building dubs project Pulliam Square

The buyer of the Indianapolis Star building has tapped into the newspaper’s rich history by naming a mixed-use development to be built on the property Pulliam Square. The Whitsett Group on Monday finalized its purchase of the 190,000-square-foot building at 307 N. Pennsylvania St. and its 500-space parking garage with the Star’s parent company, Virginia-based Gannett Co. Terms of the deal, which IBJ reported in its May 13 issue, were not disclosed. Eugene C. Pulliam bought the newspaper in 1944, and the Pulliam family led it for more than 50 years before shareholders sold to Gannett in 2000. Whitsett’s plans call for up to 500 apartments in three buildings and a bit of retail space that might attract a bank branch or restaurant, developer Joe Whitsett told IBJ. A new structure would be built near the parking garage at the corner of Delaware and New York streets. The Star building actually is four different buildings made to look like one with the addition of a brick façade. Part of the southern portion of the building is the only piece slated for demolition. Whitsett does not plan to keep the building’s brick façade. The company already is familiar with the area. It’s teaming with Indianapolis-based Ambrose Property Group to rehab the neighboring American Building at 333 N. Pennsylvania St. into 72 apartment units. Construction of Pulliam Square likely won’t begin until at least mid-2014 as the Star searches for a smaller, leased space downtown. Real estate brokers say the newspaper is considering a few options: Artistry, the redeveloped former Bank One Operations Center by Milhaus Development.; CityWay by Buckingham Cos.; Regions Tower; and BMO Plaza. The architect for Pulliam Square is Browning Day Mullins Dierdorf Architects.