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Museum in for a fight: IMA one of at least 14 art institutions with top vacancies

August 29, 2005

Wanted: director of a major fine-art museum in the midst of a campaign to reposition itself in its market. Significant expansion recently completed, more to come. The ideal applicant will be part CEO, part art expert, part fund-raiser. That could be the ad placed by the Indianapolis Museum of Art for a new director. Unfortunately for IMA, it could also be an ad placed by at least 14 other art museums nationwide. With a $74 million expansion recently opened, IMA…

More business owners embracing economy: High fuel costs, personal debt dampen some optimism

August 22, 2005

Business owners are beginning to show signs of completely emerging from a recessional slumber, although some holdouts remain unconvinced an economic recovery is in full swing. The confidence exuded by the state’s massive manufacturing sector could be sending the most optimistic signal. From 2000 to 2003, manufacturers in Indiana were stung especially hard by the soft economy, shedding 75,000 jobs. While many of those positions may never return, employment levels have at least stabilized. That seems to have provided enough…

IMS mulls hotel: Convention-level facility connected to track would diversify Speedway’s revenue stream

August 22, 2005

Sources close to the Indianapolis Motor Speedway say management is working on plans for a convention-level hotel on a 16-acre lot just south of the track’s 16th Street entrance. Under consideration is a multilevel hotel connected to the track via a skywalk and a new set of track-side suites and condos near turn two where the Brickyard Crossing Inn sits. The inn would be torn down to make room for the suites and condos, which will better complement the new…

Museum deflects pork perceptions: Policy wonks decry grant of $12.5M in transportation funds

August 22, 2005

“Why are taxpayers in California and Texas and Massachusetts paying for a museum in Indianapolis?” David Boaz, executive vice president of the Washington-based Cato Institute, wrote on the think tank’s Web site in May as the bill was coalescing. The Children’s Museum of Indianapolis landed the grant under the $286 billion transportation bill signed by President Bush this month. The grant was included in the bill courtesy of Rep. Julia Carson, D-Indianapolis. “Congress constantly uses the Department of Transportation’s budget…

Deal giving edge to unions muddies midfield contracts: Non-union contractors question whether bidding on project is worth the trouble

August 15, 2005

A construction agreement that requires union wages, work rules-and union workers-at the midfield terminal project has big and small businesses alike concerned they’ll be shut out of all but the tiniest contracts on the $300 million building. Unless Janet South’s painting firm Deco Group agrees to accept those terms, she’d only qualify for projects of $75,000 or less-the threshold at which the agreement kicks in. That limitation, contained in the project labor agreement attached to the midfield terminal, contrasts with…

Centre Properties, state nearing agreement: Retail center at 96th and Allisonville closer to reality after years of legal wrangling

August 15, 2005

Indianapolis-based Centre Properties LLC is beginning to move dirt on 96th Street just west of Allisonville Road, a sign that a battle over developing part of a 220-acre site may be nearing an end. In late March, Centre dropped a lawsuit it had filed in mid-2004 against the Indiana Department of Natural Resources over the agency’s reversal of a permit granted to Centre. That permit would have allowed Centre to fill in 15 acres of White River floodway to build…

Special Report: Buying blind: Lack of oversight leaves state in dark on real estate deals The state of Indiana knows how much it’s spending to lease property statewide -nearly $40 million a year. But it doesn’t know if that’s too much.

August 15, 2005

The state of Indiana knows how much it’s spending to lease property statewide -nearly $40 million a year. But it doesn’t know if that’s too much. State contracts for third-party real estate services give government officials few safeguards to ensure they’re paying a fair price for office, laboratory and storage space outside of state-owned buildings, those in the industry say. And state administrators have no control over seven-figure commissions paid to two Indianapolis real estate brokers in the past decade,…

BEHIND THE NEWS: Obstacles facing Marsh cast questions over Atlas project

August 15, 2005

Marsh Supermarkets Inc. ended rampant speculation when it announced last September that it was buying the former Atlas grocery site at 54th Street and College Avenue and would build an Arthur’s Fresh Market there. Or did it? Nearly a year after Marsh officials unveiled their plans, the former Atlas building slated for demolition remains standing, surrounded by a chain-link security fence. “We were pretty sure construction would have started by now,” said James Garrettson, president of the Meridian Kessler Neighborhood…

Safety Resources Inc.: Safety pays off for ex-engineer Clients look to local firm for training, advice

August 15, 2005

Clients look to local firm for training, advice Robert Baldwin repeatedly describes his business as keeping people safe and alive. At Safety Resources Inc., that translates to making sure workplace policies and practices meet or exceed government standards and clients’ employees are trained in the safest ways to work. That can mean anything from the proper operation of heavy construction machinery to the right floor wax to reduce slip-andfall accidents. After several years as a chemical engineer, Baldwin, 50, saw…

Sourwine planning to sweeten its local office offerings: Second-generation real estate firm has two new buildings in the works that could nearly double its holdings

August 15, 2005

When Jim Sourwine was 4 years old, he would sit outside the closed door to his father’s home office and play with his toy cars. Barred from entering the adult-only world, sounds of paper shuffling and adding machine clacking piqued his interest in his family’s real estate business. “I wanted in,” Sourwine recalls. By the time he was old enough to file and wash windows for the firm, his father had moved Sourwine Real Estate Services out of his home…

VIEWPOINT: Signs of economic recovery all around us

August 15, 2005

After weathering some difficult times over the last few years, there are encouraging signs that central Indiana has turned the corner on its road to economic recovery. The Indianapolis metro area added 22,000 jobs in the year ending in March-a 2.4-percent increase-and in May, the Indiana unemployment rate dipped below the national average for the first time since December. All signs point to continued modest growth. Patrick Barkey, IBJ contributor and Ball State University economist, says, “We should expect to…

Group wants energy czar: Coalition believes utilities slow to climb on efficiency bandwagon

August 15, 2005

Chris Maher’s crews at Thermo-Scan Inc. have been plenty busy inspecting for drafts and puny insulation in many of the 14,000 new homes built each year in the metro area. Even so, the principal at the Carmel firm can’t help wonder about the vast potential to make the hundreds of thousands of existing homes and businesses more energy efficient-if only homeowners had a little more incentive. Utility companies, he says, have relatively few dollars budgeted to coax customers to install…

Past retail failures in China don’t scare Simon away: Developer’s partnership with Wal-Mart could be key

August 15, 2005

Executives of Simon Property Group Inc. are confident the shopping mall owner’s foray into China will prove successful, even though they acknowledge others have failed there. In a conference call with analysts late last month, the locally based real estate investment trust announced its plan to be the first American company to develop retailing projects in the communist country. Its first project will be a 500,000-squarefoot mall at Hangzhou, a city of 6 million people about two hours from Shanghai….

Condo wave a ripple locally: Shelved conversions show area not following in national footsteps

August 15, 2005

Condominiums are hot. Apartments are not. In many cities, that current market truism among would-be renters has led to a wave of conversions of apartment complexes to condos. But not in Indianapolis. To date, only a handful of apartment complexes have successfully made the leap from rental to for-sale, notably Lion’s Gate at 86th and Meridian and Ladywood Estates near Emerson Avenue and 56th Street. Much of the reason has to do with the affordability of single-family housing in the…

VOICES FROM THE INDUSTRY: Reaping the benefits of the American Jobs Act

August 15, 2005

Astute real estate professionals should be taking advantage of several tax-saving provisions of the American Jobs Creation Act of 2004. The act was signed by President Bush last October to spur economic development and investment. The primary components of the Amer ican Jobs Creation Act include increased depreciation deductions on leasehold improvements, greater flexibility for real estate investment trusts, modification of expensing rules for equipment and vehicles, and a reduction in the tax rate for domestic manufacturing activities. Leasehold improvements…

Defining success: Those who’ve tasted it share their thoughts on just exactly what ‘it’ is

August 8, 2005

How do you define career success? We posed that question to a variety of high-profile women and men in the Indianapolis business community. While the responses did confirm some of our preconceived notions-such as that men would mention financial rewards more often than women-there are far more similarities than differences, regardless of gender or profession. Still, “Career success is defined differently by each individual,” as Alex Slabosky, president and CEO of The Healthcare Group, so wisely put it; and as…

Co-owner gives golf course a woman’s touch: Multiple tees and restrooms make the Purgatory Club in Noblesville one of the best in the country for females

August 8, 2005

Purgatory isn’t just for women. Purgatory Golf Club in Noblesville, that is. True, you can buy pink hooded sweatshirts, pink-and-white golf shoes and scented candles in the Pro Shop. And one night a month is designated Ladies Night, where women can play a round of golf, enjoy food and wine and win prizes. But don’t be fooled. Purgatory isn’t some cookie-cutter golf course. When played from the back tees, it’s one of the longest courses east of the Mississippi-nearly 7,800…

ECONOMIC ANALYSIS: Hoosiers are wallflowers as housing party rocks on

August 1, 2005

Have you heard about the wild party that’s going on? It’s not one of those parties with wine, women and song. It’s all about buying and selling, and making lots of money. And, for some Americans, at least, it’s being done from the comfort of their own homes. It’s called the housing market, and in some corners of the country, it’s a rowdy affair. In coastal California and Florida, the price of homes is going up so fast it is…

MSA redevelopers set to make another run at tower: Project takes on new moniker as it rolls out redesigned condominium plans

August 1, 2005

With a new name, new floor plans and a new marketing team, the developers of the former Market Square Arena site are gearing up to make another go at building a high-rise condominium tower on the east side of downtown. Developers hope the new designs, crafted with the assistance of Chicagobased Mesa Development LLC, will jump-start the tower, now more than a year behind schedule and saddled with a lien from a former key player. The first phase of One…

Counties, cities welcome food/beverage tax: Suburbs see extra funds as way to balance budgets

August 1, 2005

Several suburban cities and counties that have approved new food and beverage taxes view the windfall as a panacea for their budget woes. Six of the seven counties surrounding Marion County, excluding Morgan, have OK’d the 1-percent surcharge to help fund a new stadium for the Indianapolis Colts and Indiana Convention Center expansion. Morgan County councilors turned down the measure at a June meeting. The legislation, approved during the past session, directs counties to contribute half the food and beverage…

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Articles

Museum in for a fight: IMA one of at least 14 art institutions with top vacancies

More business owners embracing economy: High fuel costs, personal debt dampen some optimism

IMS mulls hotel: Convention-level facility connected to track would diversify Speedway’s revenue stream

Museum deflects pork perceptions: Policy wonks decry grant of $12.5M in transportation funds

Deal giving edge to unions muddies midfield contracts: Non-union contractors question whether bidding on project is worth the trouble

Centre Properties, state nearing agreement: Retail center at 96th and Allisonville closer to reality after years of legal wrangling

Special Report: Buying blind: Lack of oversight leaves state in dark on real estate deals The state of Indiana knows how much it’s spending to lease property statewide -nearly $40 million a year. But it doesn’t know if that’s too much.

BEHIND THE NEWS: Obstacles facing Marsh cast questions over Atlas project

Safety Resources Inc.: Safety pays off for ex-engineer Clients look to local firm for training, advice

Sourwine planning to sweeten its local office offerings: Second-generation real estate firm has two new buildings in the works that could nearly double its holdings

VIEWPOINT: Signs of economic recovery all around us

Group wants energy czar: Coalition believes utilities slow to climb on efficiency bandwagon

Past retail failures in China don’t scare Simon away: Developer’s partnership with Wal-Mart could be key

Condo wave a ripple locally: Shelved conversions show area not following in national footsteps

VOICES FROM THE INDUSTRY: Reaping the benefits of the American Jobs Act

Defining success: Those who’ve tasted it share their thoughts on just exactly what ‘it’ is

Co-owner gives golf course a woman’s touch: Multiple tees and restrooms make the Purgatory Club in Noblesville one of the best in the country for females

ECONOMIC ANALYSIS: Hoosiers are wallflowers as housing party rocks on

MSA redevelopers set to make another run at tower: Project takes on new moniker as it rolls out redesigned condominium plans

Counties, cities welcome food/beverage tax: Suburbs see extra funds as way to balance budgets