Comments on Advance Indiana™: Market Square Tower's Costs Balloon 50% To $121 Million

Can The City divert some of the revenue from Broad...

2015-02-17T19:21:31.630-05:00

Can The City divert some of the revenue from Broad Ripple bike lanes and The Cricket Field, Regional Operations Center, Fieldhouse we get all those events at downtown, and Stadium parking and concession revenue from our taxPAYER funded football stadium, as well as parking revenue from the spots those goofy electric cars block downtown to pay for this facility?

Let's place bets on whether Indianapolis or Ca...

2015-02-16T22:52:11.307-05:00

Let's place bets on whether Indianapolis or Carmel defaults first. I am an appraiser and I do not even need to fire up basic Excel for this one. Classic developer bait and switch. They probably read Donald "bankruptcy is a way of life" Trumps books.

I've been in the building design and construct...

2015-02-16T22:19:48.535-05:00

I've been in the building design and construction business a long time. How in the hell anyone blows even an initial cost estimate by 50% is beyond me. Plus I heard they are reducing the height of this "skyscraper" by 100 feet (original proposed height was 300 feet) - essentially meaning a significant reduction in scope of work. Developers always inflate construction cost estimates and project scopes to land a bigger subsidy - but I thought that was negotiated long ago. Something else is afoot here. Is F&C angling for a bigger city subsidy?

I think you're spot on, Gary, and Anon 1:43. H...

2015-02-16T22:06:13.381-05:00

I think you're spot on, Gary, and Anon 1:43. How are the private lenders getting away with making such risky investments? Sounds a lot like the raw deal received by all those toll road lease investors.

Gosh, like others I am getting to sound like a bro...

2015-02-16T14:52:39.078-05:00

Gosh, like others I am getting to sound like a broken record but Gary you are right again and this Market Square Tower crony deal will no doubt fail as did its short-lived predecessor in 2006.

The vistas from this Flaherty & Collins ivory tower will not all be gold standard and of those units that do feature views of the Circle... well, so what? This ain't downtown Chicago, downtown Atlanta, or premium central NYC.

Public officials from our corrupt mayor to his minority quota talent who depart for greener (read: way higher salaries) pastures should be held legally accountable when the P3 and phony government-private partnerships fail.

The developers on projects like this build them wi...

2015-02-16T13:43:31.478-05:00

The developers on projects like this build them with the full knowledge they will file bankruptcy and walk away within a few years after they've pocketed millions in development fees. Find out who is loaning these grifters the money for this project. They should be fired for gross incompetence and malfeasance.