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Old September 24th, 2017, 08:31 PM   #12381
Sunday_Bloody_Sundae
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Waiting patiently in the corner for Scotty just to beam me from one place to another.
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Old Yesterday, 04:22 PM   #12382
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Quote:
Originally Posted by nickbeaver View Post
Keystone poised to buy AT&T Tower.

The only worry I would have about converting the building to residential is 1) I don't believe the windows open and there aren't balconies 2) No pool. I work for a luxury apartment community Downtown and have worked with a few other properties and both of those issues are major reasons people won't lease at a property. If some of the glass can be replaced to have windows that can open, or balconies built onto the building, I would have no worries about leasing or sales. A pool is much more challenging and less likely to happen, but I would at least hope for some type of roof top terrace with a fire pit, grills, seating, etc.

There is definitely demand for more hotel options Downtown, however if a hotel brand wants to convert an existing building into a hotel I would imagine a historical building like the Illinois Building (above Hyde Park Prime Steakhouse) being favorable compared to a 1970's glass office tower. Office vacancies are kinda high right now so I don't see office as a good option even though its already built as an office tower.
I agree re residential. It would require creating balcony space (now required in Regional Center residential), which is a non-trivial exercise when dealing with an existing glass curtain wall...you'd have to drain water, for one thing.

Re hotel: the downtown Hilton was a conversion of the former Blue Cross/Blue Shield building (after Anthem moved to the circle with those satellite mid-rises south of the rail viaduct). A couple of floors of parking plus hotel, plus maybe a couple of condos on the top floors, is probably what will end up happening.

I don't think that pulling commercial off the market will lead to the construction of more commercial in high-rises, though. We still have plenty of parking lots in the near-downtown area that could comfortably accommodate developments like the Cummins Distribution HQ for either single or multi-tenants.

Remember also, Lilly is cutting several thousand US jobs, most of which are in downtown Indy. They may be able to offer space in-house to outsourced contractors who use outside space now, and that space isn't on the market because it's currently considered "owner occupied".
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Old Yesterday, 11:16 PM   #12383
rnimry
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I snapped this leaving work today, looks like a new place is replacing Bourbon Street:



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Old Today, 04:11 AM   #12384
Manchesterman19
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I visited Knoxville and Savannah last week. Both really cool cities in very different ways, but one thing that I was curious about was why Knoxville had several "beer markets" while indy has zero (to my knowledge). I didn't have a chance to enter any but they appeared to have a pretty decent craft beer selection available for carryout as well as operating as a bar.
Either it's a trend that just hasn't hit indy yet, or there's some antiquated liquor/distribution law that prevents that kind of establishment. Any one seen these in other cities or know why these aren't in indy?
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Old Today, 06:34 AM   #12385
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Not sure if this answers your question

Quote:
Originally Posted by Manchesterman19 View Post
I visited Knoxville and Savannah last week. Both really cool cities in very different ways, but one thing that I was curious about was why Knoxville had several "beer markets" while indy has zero (to my knowledge). I didn't have a chance to enter any but they appeared to have a pretty decent craft beer selection available for carryout as well as operating as a bar.
Either it's a trend that just hasn't hit indy yet, or there's some antiquated liquor/distribution law that prevents that kind of establishment. Any one seen these in other cities or know why these aren't in indy?
When I visited Seattle, many of the breweries out there had very nice beer gardens attached where it was a sort of a beer tasting outside. Is that what you are talking about? If so, I have heard that Saint Joseph Brewery is putting in one in their lawn just north in the spring. So, to maybe answer your question, it's a trend that hasn't hit yet? As far as I know Saint Joseph will only serve their beer though, so, not a "market".
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