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Old July 8th, 2017, 04:20 AM   #61
GarfieldPark
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I find it difficult to call 500 residential units on one block a "missed opportunity". Some additional height would have been good though - I agree.

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Old July 8th, 2017, 06:23 PM   #62
rnimry
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I find it difficult to call 500 residential units on one block a "missed opportunity". Some additional height would have been good though - I agree.
I should've probably clarified on the missed opportunity of additional height.
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Old July 9th, 2017, 07:14 PM   #63
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Downtown Indy (from Wikipedia)

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Old July 10th, 2017, 07:21 PM   #64
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This picture really makes me think that even though the GM stamping plant has space for a large scale development. The south side of downtown has a ton of space as well...

Last edited by CorrND; July 10th, 2017 at 09:40 PM. Reason: Quote of huge image unnecessary.
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Old July 10th, 2017, 08:49 PM   #65
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Considering City Way has at least 1/3 of its total cost subsidized and several of the 5-story apartments buildings are also heavily subsidized in terms of total cost, it seems a bit ridiculous to argue against subsidies for high-rise developments in the downtown. Don't you think?
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Old July 10th, 2017, 10:54 PM   #66
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Considering City Way has at least 1/3 of its total cost subsidized and several of the 5-story apartments buildings are also heavily subsidized in terms of total cost, it seems a bit ridiculous to argue against subsidies for high-rise developments in the downtown. Don't you think?
If you are saying that the subsidies could have been better directed towards higher quality projects than I would agree. They are probably just better spent in other places period - save for a couple of more successful ones. We keep offering subsidies so developers keep coming hat in hand. People want to live downtown & are willing to pay a high $ per square foot. I don't believe that the market wouldn't be offering them something without the subsidies.
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Old July 11th, 2017, 01:59 PM   #67
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If you are saying that the subsidies could have been better directed towards higher quality projects than I would agree. They are probably just better spent in other places period - save for a couple of more successful ones. We keep offering subsidies so developers keep coming hat in hand. People want to live downtown & are willing to pay a high $ per square foot. I don't believe that the market wouldn't be offering them something without the subsidies.
You're right in some situations, but it's not quite that easy. Now that the demand's been proven, construction costs have skyrocketed and bank are more stingy about loans. And there are still legacy/institutional factors that effectively subsidizes suburban development competitors.

While we would have some multifamily construction, it would much lower in quantity and quality. I'd say the externalities of higher density are worth those subsidies on many average projects.
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Old July 11th, 2017, 02:53 PM   #68
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You're right in some situations, but it's not quite that easy. Now that the demand's been proven, construction costs have skyrocketed and bank are more stingy about loans. And there are still legacy/institutional factors that effectively subsidizes suburban development competitors.

While we would have some multifamily construction, it would much lower in quantity and quality. I'd say the externalities of higher density are worth those subsidies on many average projects.
Construction costs haven't skyrocketed. Some material costs have gone up & companies have gotten busier in general but that affects both suburban and urban markets equally. Rates have also gone up a little but not much. If the banks are getting stingier with their loans for downtown apartment projects than perhaps we should take note. They could be concerned about the market absorption rate with all the new units coming online. That is not to say that the apartment blitz is done, but we should not throw caution to the wind.

You are right that there are many things that tip the scale in favor of horizontal suburban expansion. Even more so when Indy has to compete with top notch suburbs like Carmel & Fishers. The low hanging fruit in this situation is to get rid of barriers to urban development - parking requirements, density restrictions, red tape caused by baseless opposition. That is a cheap easy way to make our urban markets more competitive.
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Old July 11th, 2017, 04:41 PM   #69
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Considering City Way has at least 1/3 of its total cost subsidized and several of the 5-story apartments buildings are also heavily subsidized in terms of total cost, it seems a bit ridiculous to argue against subsidies for high-rise developments in the downtown. Don't you think?
Cityway got done at the depths of the recession. It was a needed amenity for Lilly (the hotel/conference center, restaurant, and bar) as well as a jump start for non-stadium related development south of South.

Sometimes the City has to take care of Lilly. That's important to our economy.
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Old July 15th, 2017, 06:01 PM   #70
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Found this awesome photo of Indy here. It looks like its probably from late last summer because the Cummins Tower is still being built, 360 Market is in its early stages on construction, and Salesforce Tower is still Chase Tower. Regardless, its a great view!
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Old August 4th, 2017, 10:10 PM   #71
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Old August 4th, 2017, 10:12 PM   #72
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Old August 5th, 2017, 03:50 AM   #73
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INDIANAPOLIS | Gallery



One I took last week over vacation back home. I miss the circle so much and it's very underrated for how great of a public space it is.
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