Thursday, January 19, 2012
(3) Council work session: River View alterations and photos.
To repeat: River View is now being presented as a three-phase project, with parking first, retail second, apartments third, and condos only at the very end.
Mike Kopp now takes the floor to sell the preceding. He merged Blue Sun with Remax so he could take advantage of the latter's commercial strength, precisely to tie into River View.
Kopp likes the new plans quite a lot. He sketches an optimistic scenario in which every projection being made succeeds, with no hitches and no glitches.
Jon Anderson from Indy explains how the three-step development process was necessary because of resistance from banks. PNC is interested, and Stockyards, BB & T, maybe Main Source and Your Community. Consistent message now is that the scale was too large to ensure financing. However, the city is being relied upon to be perfectly consistent in its TIF commitment.
Jack Bobo really thinks there WILL be interest when marketing packages and loan packages go out. The need a large retail tenant (read: chain), but they'll forge ahead even if they don't get such a commitment.