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Old June 28th, 2007, 09:11 PM   #1481
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Purdue to build tech park near airport

Purdue Research Foundation will open its fourth technology park in the state on 78 acres at a business park near Indianapolis International Airport.

The university's research arm said today that the Indianapolis park could grow to hold up to 75 businesses that could create as many as 1,500 jobs.
Purdue Research Foundation has bought the site from Holladay Properties, developer of the AmeriPlex-Indianapolis park that sprawls on former farmground just south of I-70 near the airport.

Purdue President Martin C. Jischke called the new park a combination of "vision and practical experience."

"This facility is situated in the heart of the state and is so close to the Indianapolis International Airport that it will provide an additional incentive for owners of national and international companies to look at Indiana as a convenient place to do business," Jischke said in a statement.

It becomes the fourth park that the research foundation owns and operates in the state. The oldest and largest, begun in 1963, is in West Lafayette and is home to more than 140 companies. Purdue previously partnered with Holladay Properties on a similar park in Merrillville, and it's developing a southern Indiana park in New Albany, to open next year.

The Indianapolis park is called Purdue Accelerator Park. The proposed design includes six office or industrial buildings, a 300-bed hotel and three sites for restaurants or retail stores.

University-sponsored research parks have become a significant economic force across the country. More than 4,450 companies or organizations are based in university research parks, employing more than 350,000 people, according to the Association of University Research Parks.

Purdue's park in West Lafayette is one of the more successful. Companies are drawn to such research parks because universities make available knowledge from their faculty and students. In addition, university scientists spin off their own companies that take up residence in business incubators set up in the parks.

http://www.indystar.com/apps/pbcs.dl...NESS/706280561

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Old June 28th, 2007, 09:12 PM   #1482
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500 Festival offices moving Downtown


Star report

The 500 Festival is moving its operations Downtown to a new location that bear the name "500 Festival Building."


The festival will move its operations to 21 Virginia Avenue between Pennsylvania and Delaware Streets around Oct. 1.
"This is an exciting move for us, and, it will help to accommodate our growing organization," said Kirk Hendrix, President and CEO of the 500 Festival, in a news release. "This property offers valuable and unique opportunities for the 500 Festival. Its prime location will provide high visibility and easy access. With signage treatments, it will provide us with year-round presence in a high traffic area, and it supports the expanding operational needs of our organization."
The property owner, GSA Investments, Inc., is currently making renovations to what will become "500 Festival Building." The 500 Festival is the property's first new tenant and will occupy part of the first floor, at street level on Virginia Avenue, and the entire mezzanine level.
The 500 Festival, celebrating its 50th Anniversary year, is a not-for-profit organization which produces 25 annual events and programs. These events and programs are produced largely by volunteers. Currently the festival operates out of a house in the 2900 block of North Meridian Street.
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Old June 28th, 2007, 09:14 PM   #1483
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The stats

Purdue Accelerator Park
What: Technology park that will help to create new high-tech businesses and promote the expansion of established companies. It will accommodate up to 75 businesses and create 1,500 jobs.

Where: AmeriPlex — along the I-70 corridor near the midfield terminal of Indianapolis International Airport.

Size: 78 acres.

Developers: Purdue Research Foundation and Holladay Properties.

Details :
-- 100,000- to 150,000-square-foot industrial building.
-- 50,000- to 70,000-square-foot multistory office building.
-- 300-bed, six-story hotel with a 30,000-square-foot conference center.
-- Three sites for restaurants or retail.
-- Space for four additional buildings.

Other research parks
The new tech park will be the fourth such park that the Purdue Research Foundation owns and operates. Other centers include:
-- Purdue Research Park, West Lafayette: 591-acre park that opened in 1963 and is the largest university-affiliated, business incubation complex in the country with more than 140 tech-related companies.
-- Purdue Technology Center of Northwest Indiana, Merrillville: 386-acre center that opened in 2005 and has 16 companies.
-- Purdue Technology Center of Southeast Indiana, New Albany: Construction began in 2006. When it opens in 2008, the 40-acre site will house business incubator and economic development offices, an office for Purdue’s Technical Assistance Program, and additional spaces for classrooms and labs.

Source: Purdue University.

----------

I'm just waiting on more pictures of the project to come out. So far, the one is not too impressive, but this is a good build to Indianapolis economy
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Old June 28th, 2007, 09:44 PM   #1484
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Quote:
Originally Posted by mobyhead View Post
500 Festival offices moving Downtown


Star report

The 500 Festival is moving its operations Downtown to a new location that bear the name "500 Festival Building."


The festival will move its operations to 21 Virginia Avenue between Pennsylvania and Delaware Streets around Oct. 1.
"This is an exciting move for us, and, it will help to accommodate our growing organization," said Kirk Hendrix, President and CEO of the 500 Festival, in a news release. "This property offers valuable and unique opportunities for the 500 Festival. Its prime location will provide high visibility and easy access. With signage treatments, it will provide us with year-round presence in a high traffic area, and it supports the expanding operational needs of our organization."
The property owner, GSA Investments, Inc., is currently making renovations to what will become "500 Festival Building." The 500 Festival is the property's first new tenant and will occupy part of the first floor, at street level on Virginia Avenue, and the entire mezzanine level.
The 500 Festival, celebrating its 50th Anniversary year, is a not-for-profit organization which produces 25 annual events and programs. These events and programs are produced largely by volunteers. Currently the festival operates out of a house in the 2900 block of North Meridian Street.
Is this the old JA building? If so, GREAT! It looks like that entire block has gone from vacant to full in 1 year!
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Old June 29th, 2007, 04:00 AM   #1485
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Damn, the north Indy suburbs are growing like weeds. Carmel and Fishers both have 60,000+ people, and Noblesville has over 40,000. Unfortunately, Noblesville's infrastructure is more like that of a city of 15,000.
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Old June 29th, 2007, 04:54 AM   #1486
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I don't put a whole lot of stock in the Census estimates for Marion County. Their last estimate in March, 2000, before the 2000 Census, was that Marion County had 810,946 people. The actual number was 860,454. That's a pretty big gap. There are many who feel that Hispanics were undercounted by 30,000 (and a few who believe this number is closer to 50,000). The numbers are worthless until the official 2010 Census numbers are published. The suburban numbers are probably fairly accurate.

Last edited by IndyBob; June 29th, 2007 at 04:56 AM. Reason: Mistake
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Old June 29th, 2007, 04:58 PM   #1487
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The folks from Zambelli are here setting up for the July 4th fireworks. Also the guys from Wilhelm Construction are still hard at work dismanteling the building's northside @ 5th floor terrace. It appears they are also constructing a lift/elevator as well. Yay for progress.
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Old June 29th, 2007, 05:05 PM   #1488
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Did anybody here get a chance to attend the MPO event last night at the convention center w/ Dr. Reid Ewing's keynote on mass transit and transit-oriented development? I was going to try to be there, but ended up completely forgetting about it until it was too late. D'oh!
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Old June 29th, 2007, 10:20 PM   #1489
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Downtown Safeco building sold

June 29th, 2007

Star report

The 500 North Meridian Street building, leased to Safeco Business Insurance, has changed hands.


An investors group formed by ANYI Management Co. and its principals have bought the 436,000-square-foot office building and 1,090-space attached parking garage.

Cohen Financial's Chicago office said this month that it arranged a $41 million loan for the buyer to refinance debt and provide funds for future leasing.

Safeco is expected to remain in the building, Cohen Financial told the trade newsletter Commercial Property News. Safeco retains the option to buy the building, Cohen said.

Information on the seller wasn't released.

ANYI Management is a privately held real estate management company that controls 1,200 apartments and 10 million square feet of office and industrial space in Indiana, Michigan, Ohio and Alabama
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Old June 30th, 2007, 01:39 AM   #1490
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Quote:
Originally Posted by SkywlkrSnd View Post
Did anybody here get a chance to attend the MPO event last night at the convention center w/ Dr. Reid Ewing's keynote on mass transit and transit-oriented development? I was going to try to be there, but ended up completely forgetting about it until it was too late. D'oh!
Yes, I was there. It was very interesting. Dr. Ewing really loves what Portland has done. He basically gave the attendees plenty of ammo to use when discussing and promoting the benefits of multi-mode/mass transit systems, dense development, and smart-growth/land-use (for example, linking suburban sprawl to obesity). I think everyone here would have found it very interesting. I was also glad to see a big turnout. At least bigger than I anticipated. :-)

His powerpoint presentation (converted to PDF) will be online through the IMPO website soon. I also imagine it will be shown on the government channel as there were cameras present.

The IMPO also announced a new website for more "up-to-the-minute" transit and planning news, but its address escapes me at the moment. Maybe someone else knows it. It is in some literature I picked up, so I'll post it later unless someone beats me to it. :-)
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Old June 30th, 2007, 02:48 AM   #1491
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You can aspire to be Portland I guess. But Portland has many negative things that have happened as a result of its public policy. Compare housing affordability there to Indianapolis, for example.
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Old June 30th, 2007, 04:29 AM   #1492
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You can aspire to be Portland I guess. But Portland has many negative things that have happened as a result of its public policy. Compare housing affordability there to Indianapolis, for example.
I'm not sure if that's what ablerock is doing.. I'm sure all of us here want Indianapolis to just be Indianapolis.. with a sweet mass transit system.
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Old June 30th, 2007, 09:17 AM   #1493
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Well kids here's the moment many of us have been waiting for:

Downtown towers in works
Developer pitches huge project with hotel buildings of 28, 17 stories

Sat. June 30 - 2007

Jennifer Whitson - [email protected]
IBJ staff

When revelers leave a Pacers game or Conseco Fieldhouse concert now, they likely wander back to their cars via a mostly dark Pennsylvania Street.

That will change in the next couple of years if J. Greg Allen has his way. The south-side developer is pitching a massive project along Pennsylvania that includes hotel towers—one 28 stories, the other 17—to be built on property now used mainly for surface parking.

“We want to be part of the reinvention of downtown that has happened over the last several years,” Allen said. “It’s not a wing-and-a-prayer to do development in downtown anymore.”

The project, tentatively dubbed Penn Centre, would stretch from Maryland to Georgia streets along Pennsylvania. Plans call for as many as six restaurants and a 550-space parking garage.

Allen would not provide a project price, but a local developer estimated the cost would range between $75 million and $100 million.

He plans to incorporate the façade of the historic Omega Building at 29 E. Maryland St. in the project that stretches south to Georgia Street, in front of the Harness Factory loft apartments.

The project also includes air rights over Chesapeake Street, but it excludes a small parking lot at the corner of Maryland and Pennsylvania used by the adjacent Hampton Inn for valet parking. The hotel owners also own that property and refused to sell it to a potential competitor.

Allen has closed on all the other properties.

Since the project is in the Wholesale District, it requires approval from the Indianapolis Historic Preservation Commission. As part of that process, Allen has promised to preserve and renovate the Omega Building façade; he plans to work it in as part of a nine-story structure fronting Maryland Street.

The developer is working with locally based Browning Day Mullins Dierdorf Inc. on final design plans.
Allen also is negotiating with the city for tax incentives. Indianapolis’ economic development director, Jim Garrard, confirmed that a property tax abatement is on the table, but said it’s too early to discuss details.

“I think it’s a great project for that area, and we’re excited about it happening,” Garrard said.

The entire project, including both towers, would have nine floors in common. The first two levels would house up to six restaurants, ranging from casual to fine dining. The third through ninth floors would be used for parking.

Along Pennsylvania Street north of Chesapeake Street, plans call for a hotel and condo tower that would rise a total of 28 stories, giving downtown’s southeast quadrant its tallest building. And south across Chesapeake Street, a 17-story tower would house another hotel.

The two towers would share one level with an indoor pool and fitness area.

For the tallest tower, Allen has applied to Starwood Hotels to run a 240-room Le Méridien. The upscale, traditionally European brand would be a direct competitor to the 241-room Conrad Indianapolis. It would be only the sixth U.S. location for the Le Méridien brand and the only one in the Midwest. A recent weeknight rate at the Le Méridien San Francisco was going for $229.

The hotel would occupy the tower’s 10th through 22nd floors. The top five floors would have 64 condominiums, ranging from 1,200 to 6,000 square feet. No price range was available.

Allen is proposing to introduce the Aloft brand as the other hotel. Also a Starwood property, the so-called “lifestyle hotel” brand aims for the feel of a boutique hotel and is a lower-priced offshoot of W Hotels. A recent weeknight stay at a W Hotel in Chicago was going for $299, but no Aloft hotels were available to book.
The Aloft hotel should be a “home run” in Indianapolis, thanks to what should be competitive pricing, said Rob Hunden, of hospitality consultant Hunden Strategic Partners.

But he said the Le Méridien could be tougher to pull off because of its similarity to the Conrad, which also is vying for a shallow base of high-dollar visitors. The Conrad struggled to fill rooms in its inaugural year, with occupancy numbers around 50 percent.

“I would look at the performance of the Conrad in downtown to see if there’s a deep enough market for two hotels at almost the exact same size,” Hunden said. “We just don’t have that deep of a corporate market that can afford that type of a room price.”

The hotels also will be up against a flood of new rooms coming on the market, including a 1,300-room hotel project that includes a 1,000-room J.W. Marriott convention hotel.

“It’s going to take a few years to rebound for the market to absorb the new rooms,” Hunden said.

The restaurant space in the project should be marketable, thanks to a shortage of quality space downtown, said Steve Delaney, a broker with Sitehawk Retail Real Estate who focuses on restaurants.

Chicago-based Hostmark Hospitality Group has been hired to manage the hotels. They would be the firm’s first properties under management in the Indianapolis market.

Hostmark Vice President of Development Mark Heisler said more than 100 employees would be needed between the two hotels.

“We love the location, size and scope of the project,” Heisler said. “It makes a lot of sense.”

Allen hopes that enthusiasm is contagious as he negotiates for city support. The precedent certainly is there. The city contributed $24 million to help build the $100 million Conrad, and recently agreed to give $48.5 million toward the $250 million JW Marriott hotel complex. But Allen’s project is more likely to get a tax abatement than a cash investment.

He wants to begin construction this year and finish the work in about 18 months.

“The project has the potential to create a real destination for this side of downtown,” he said. •







Sounds like it's almost a done deal. Can't ****** wait.

Last edited by cityfan; June 30th, 2007 at 09:22 AM.
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Old June 30th, 2007, 09:25 AM   #1494
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I was JUST about to post this article. Sounds good!!

Pisses me off Hampton Hotel will not let the lot be developed though... What the heck?

And Begin construction this year? Sure hope so!

Can someone post a picture of Omega? I really have no idea what building this is, and I take maryland home everytime I'm in downtown.
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Old June 30th, 2007, 09:29 AM   #1495
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I hope the Historic Preservation Commission doesn't become a huge hassle for this project.
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Old June 30th, 2007, 04:35 PM   #1496
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Mired in slime
Poison, scraping and raking haven't worked. The Downtown Canal once again is full of algae.
By Cordell Eddings
[email protected]
June 30, 2007

Graham Hudson has watched customers drop phones, car keys, even a wedding ring into the thick green algae in the Downtown Canal, never to be seen again.
"It happens all the time," said Hudson, 19, who rents out paddle boats on the waterway. "And every day someone asks, 'When is the canal going to be cleaned?' We wonder the same thing."
The growth is back this summer, and it's thicker than ever, according to some accounts.
City crews have tried raking it out. They've used algaecides and herbicides. They've even tried a combination of all three.
But nothing seems to rid the canal of the brownish-green pockets of summer sludge; dingy, soapy foam; and weeds.
Officials are now considering draining the canal this winter to scoop out the unwanted growth. That would at least give crews a fresh start in the battle against algae and weeds.
Something needs to be done as the city tries to develop the canal into a Downtown attraction, lined with restaurants and shops, according to City-County Council member Patrice Abduallah, whose district includes the waterway.
"The canal should make you want to drink the water," Abduallah said this week. "Right now I wouldn't suggest anyone fall in the water."
The canal has been treated once a week for about the past 10 years with a combination of chemicals, and officials hired an extra groundskeeper to scoop and rake debris out of the water, all for about $35,000 a year. But those efforts have not solved the problem.
"It needs to be cleaned," said Anne Coffey, spokeswoman for the Department of Metropolitan Development, the city agency responsible for the canal.
"The canal has never been officially cleaned," she said. "We want to do it right."
The city has hired a consultant to see what's possible. Officials want to send out a request for proposals soon and solicit bids by the end of July.
Coffey said all options are on the table, including a drainage to remove the algae and anything that encourages them throughout the 1.5-mile-long canal.
The canal is an algae hotbed for several reasons. It's not a moving river, which allows algae to grow at the bottom relatively undisturbed. Two wells of groundwater at the north end, and runoff from nearby buildings on the south end, provide the water.
In addition, the concrete bottom makes it difficult to scrape out plant growth regularly without damaging equipment.
"Anytime that you deal with a water source like this, algae and weeds are something that happens," Coffey said.
Over the years, officials have talked about adding fountains to increase the water circulation, dredging machines that would clean up the bottom, and even weed-eating fish. But those ideas haven't come to fruition.
Some would cost as much as $1 million. Officials say they won't know how much the proposal to drain and clean the canal will cost until contractors' bids are in. Coffey said the city and state would share the cost of the cleanup.
"Since it's becoming more of a destination, we want to make sure it looks its best," Coffey said. She said the canal could get more than 900,000 visitors a year.
Some residents say they've seen so much algae, and heard so many plans, that they'll believe in a canal cleanup when they see it.
"We keep hearing about their 'plans,' " said Kate Scmell, 21, a sales associate with Canal Boat Rentals.
Others say they have just gotten used to the plant growth.
"I always thought the algae were supposed to be there. For the fish," said Karen Eck, 44, Indianapolis, who recently took an afternoon stroll around the canal with her friend Tracie Hughes, 37.
Neither could remember the original color of the bottom of the canal (eggshell, by the way). And they say neither the odor nor the appearance of the water keeps them from enjoying a stroll beside the canal.
"It could be better, but it's still one of the best places to go in the city," Hughes said. "We still love the water."
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Old June 30th, 2007, 05:26 PM   #1497
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sweet.
I am relieved to hear the Omega buildings facade will not be knocked down.
I cant wait, a 28 and 17 story tower, I about shit myself when I read it.
I cant wait, this will do alot for wholesale, I wish hilton would sell them the parking lot those dickheads, they just leave an empty parking lot their like "whatever". Atleast they could build a parking garage with street level retail.
This is a very exciting project.

as for the canal, I was riding along it not too long ago, and I stopped to eat my lunch beside it, I dropped my purse in the canal, and when I pulled it out, it had all this green moss at the bottom. It was disgusting.
It needs to be cleaned out somehow...
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Old June 30th, 2007, 05:33 PM   #1498
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Holland and Ostermeyer Building
29 E. Maryland Street
1867-68
The former Holland and Ostermeyer Building (architect unknown) is a remnant of a long block of 1860s wholesale houses. John W. Holland and Frederick Ostermeyer purchased the site for their wholesale grocer business from Henry Schnull and then built the present unit as part of a larger block.



now its just the omega building.
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Old June 30th, 2007, 05:55 PM   #1499
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Quote:
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Holland and Ostermeyer Building
29 E. Maryland Street
1867-68
The former Holland and Ostermeyer Building (architect unknown) is a remnant of a long block of 1860s wholesale houses. John W. Holland and Frederick Ostermeyer purchased the site for their wholesale grocer business from Henry Schnull and then built the present unit as part of a larger block.



now its just the omega building.
It's all boarded up now too, and it's a pretty bad eyesore for downtown, but it will make for a nice facade.
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Old June 30th, 2007, 05:59 PM   #1500
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It's all boarded up now too, and it's a pretty bad eyesore for downtown, but it will make for a nice facade.
yah, I walked past it this morning, it looks bad, they should cover it up untill its ready,
I hope they scrape that paint and sand blow the brick facade, and restore the stonework over the windows.
The trim is ugly, they should paint it tones like the building similar to the omega building in the circle centre next to st.elmos.
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