Real Estate – Page 475 – Indianapolis Business Journal

Struggling Noble Roman’s takes over franchisee’s 6 units

March 24, 2008

Noble Roman’s Inc. has taken over the operation of six franchised restaurants in Indianapolis in a bid to prove its concept
can be executed profitably. The move–which comes amid a chorus of discontent from franchisees and as the company explores
the possibility of selling itself–could help the 1,000-restaurant chain avoid the embarrassment of store failures in its
own back yard.

Mortgage blues haven’t hit all: Some firms are holding their own despite housing, credit slump

March 24, 2008

The local office of Cleveland-based KeyBank has hired a banking veteran to lead a revamped mortgage department that will boast a larger sales force. And locally based mortgage firm Signature Group recently completed construction of its new headquarters and added three brokers. In this climate of ballooning foreclosures and rising interest rates, one might wonder whether executives of the aforementioned institutions are reading the wrong spreadsheets. To the contrary, despite the gloomy picture monthly housing statistics paint, they are among…

Farm Fresh clients pay a premium to support local growers, organics

March 24, 2008

Matt Ewer and his wife, Elizabeth Blessing, launched Farm Fresh Delivery LLC in July. With nearly 500 subscribers already,
the organically- and locally-grown-groceries delivery business is blooming in a segment where many large, mass-market retailers
failed during the dotcom bust.

Friday open thread

March 21, 2008

Besides college basketball, what’s on your mind today? A starting point: What do you think of Simon Property Group’s venture into the condo business with a 47-story tower atop a Nieman Marcus in Boston? (A spokeswoman for the tower’s designer,…

Dome souvenirs & Babe Denny

March 20, 2008

This week brought potential resolution for a couple of disputes in the neighborhoods surrounding Lucas Oil Stadium:

Board limits RCA Dome souvenir proceeds to $200K
The Capital Improvement Board today agreed to rework an…

‘Major downturn’ for construction

March 19, 2008

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…

Tax legislation to become law

March 18, 2008

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

March 17, 2008

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

March 17, 2008

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

March 17, 2008

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

March 14, 2008

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

March 13, 2008

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

March 11, 2008

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

March 10, 2008

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

March 10, 2008

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

March 10, 2008

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

March 10, 2008

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

March 7, 2008

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

March 6, 2008

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

March 5, 2008

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…

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