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SATURDAY, JANUARY 20, 2007
Small business • Life sciences • HR + Diversity • Commercial real estate • Personal Finance • Real Estate • Technology
TODAY’S FOCUS: REAL ESTATE
ON THE MOVE
president of supply management in North America for Rolls-Royce. Previous position: Director of global supply management at Delphi Steering. Gaskin Experience: Gaskin has worked 25 years for Delphi and General Motors Corp. in supply management, plant operations, labor relations and personnel. Personal: Gaskin and her husband, Tom, have two golden retrievers.
Name: Beverly Gaskin. Title: Executive vice
Cranberry Lake offers privacy, short commute
Most people who move to Cranberry Lake Estates stick around Of the more than 200 homes in the Greenfield neighborhood, just five are for sale. “They don’t come up very often,” said Kathy Hall, general manager and a real estate agent for Century 21 Elsbury. “It’s a real friendly neighborhood and a family neighborhood. People move in and stay.” Cranberry, just north of I-70 off of Ind. 9, has been around since the early 1970s. Its name, a bit misleading because there is no major lake at Cranberry, came about because of an old cranberry patch when the first homes were built, said Victoria Doss, a resident whose uncle was one of the first Cranberry residents. There are man-made lakes around some properties, but most homes sit far from water or on wooded lots. The neighborhood is made up of ranches, two-story traditional American homes and spacious custom-built residences. Prices range from $150,000 to $350,000. Doss, who built a brick ranch home in 1995, moved to Cranberry because her parents lived within walking distance. She has found the neighborhood perfect for her and husband, Robert. The close access to I-70 makes the commute to work in Indianapolis a breeze. The lots are bigger than many neighborhoods. “You’re not right on top of each other,” said Doss. “And it’s like a community in itself.” Doss, who grew up in Greenfield, has watched the city explode with growth. Cranberry was once in the middle of nowhere, except a gas station and few fast-food restaurants down the road. Today it is minutes from a booming retail sector. In the past few years, the city has landed a Starbucks, Peebles, Culver’s, Cracker Barrel and Payless Shoes. Dozens of other retailers abound along Ind. 9, just south of Cranberry. Jerry Rogers has watched the
Mortgage rates edge up for week
WASHINGTON — Rates on 30-year mortgages rose this week to the highest level in nine weeks as financial markets reacted to a series of more upbeat financial reports. Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.23 percent, up from 6.21 percent last week. It was the highest level since 30-year mortgages stood at 6.24 percent the week of Nov. 16. The Freddie Mac survey showed that other types of mortgage rates experienced slight increases. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, edged up to 5.98 percent, compared with 5.96 percent last week. Five-year adjustable rate mortgages rose to 6.04 percent, up from 6.03 percent. One-year ARMs rose to 5.51 percent, up from 5.44 percent last week. The mortgage rates do not include add-on fees known as points. Thirty-year, 15-year and five-year mortgages each carried a nationwide average fee of 0.4 point. One-year adjustable rate mortgages carried a fee of 0.5 point. A year ago, rates on 30-year mortgages stood at 6.10 percent, while 15-year mortgages were at 5.67 percent, five-year ARMs averaged 5.75 percent and one-year ARMs were at 5.18 percent.
By Dana Knight
COMINGS AND GOINGS
◆ Jeffrey L. Drake promoted to associate at Burgess & Niple. ◆ Greg Slipher hired as livestock development specialist and Tiffany Obrecht hired as a policy specialist by Indiana Farm Bureau. ◆ At Krieg DeVault, James T. Crawford Jr. promoted to chair of the municipal practice group; Sharon B. Hearn promoted to chair of employee benefits and executive compensation practice group; Scott S. Morrisson promoted to chair of the litigation practice group; and Linda J. Cooley promoted to chair of the employment law practice group. ◆ Suzanne Lane hired as a sales associate by Re/Max Select. ◆ Steve Bryant hired as manager of business development and marketing; John Grove hired as business development executive for Lane California; and Janet Carminati hired as manager of client management by BioConvergence. ✭ Comings and Goings includes notices of promotions,
TRADE/PROFESSIONAL REAL ESTATE LEGAL INSURANCE ARCHITECTURE/ENGINEERING
JERI REICHANADTER / The Star
IN GREENFIELD: The lots in Cranberry Lake Estates are bigger in many neighborhoods. “You’re not right on top of each other,” said resident Victoria Doss.
appointments and elections, published as space allows. Mail notices and photographs to Jill Phillips at The Star, P.O. Box 145, Indianapolis, IN 46206-0145. fax: (317) 444-8536. e-mail: email@example.com.
Location: In Greenfield about a mile north of I-70 on the west side of Ind. 9. History: The neighborhood was developed in the 1970s. Home prices: Average $150,000 to $350,000, but some are priced higher. Home types: Brick ranches, two-story traditional American homes and custombuilt homes. Some wooded lots and lake properties. Schools: Greenfield-Central Schools. Association: None.
CRANBERRY LAKE ESTATES
Cranberry Lake Estates
300 E. 400 E.
Source: ESRI, TeleAtlas
Business Beginnings Course Orientation, 9:30 a.m., English Foundation Building, 615 N. Alabama St. Presented by Neighborhood Self-Employment Initiative and Central Indiana Women’s Business Center. Registration required. Call (317) 917-3266.
growth as well. He and his wife, Julie, built their Cranberry home in 1991. “Initially, we moved there because the prices were reasonable, the neighborhood was well-maintained, there were a lot of kids and there was easy access to Indy from I-70,” he
said. But other things have kept the Rogers, who have two teenage children, in Cranberry. “It’s a close-knit group, and we’ve watched our families grow together,” he said. ✭ Call Star reporter Dana Knight
at (317) 444-6012.
vill eP i ke Rd.
BOSTON CHICAGO DALLAS DETROIT HOUSTON
For average 30-year fixed loan (0-1 points)
6.35 6.41 6.14 6.28 6.22 5.90 6.25 6.28 5.90 6.18 6.19
175 S. Main St., Zionsville. Speaker: Dawn Waltrip. Guests $47. Visit www.nsa-indiana.com.
National Speakers Association, Indiana chapter: What Does Your Audience See, 8:30 a.m., Brick Street Inn,
NEW YORK PHILADELPHIA
100 W. 86th St. Call (317) 252-9947, or visit www.bpeindy.org. Career Club, 3 p.m., Greenwood Public Library, 310 S. Meridian St. MBA Association Speaker Series, 5 p.m., Butler University Robertson Hall Johnson Room, 4600 Sunset Ave. Speaker: Cathy Langham, chief executive of Langham Transportation. Call Bill O’Donnell, (317) 940-9462.
Business and Professional Exchange, North chapter, 7 a.m., St. Luke’s United Methodist Church,
PHOENIX SAN FRANCISCO WASHINGTON
KEY INTEREST RATES
PRIME LENDING RATE Current Prev. week Yr. ago 8.25 8.25 7.25 FEDERAL FUNDS RATE Current Prev. week Yr. ago 5.23 5.22 4.23 90-DAY TREASURY BILLS Current Prev. week Yr. ago 4.96 4.92 4.20 10-YEAR GOVERNMENT BONDS Current Prev. week Yr. ago 4.70 4.66 4.41 CORP. AAA BONDS Current Prev. week Yr. ago 5.34 5.31 5.29
square feet -car garage areas
Photo provided by Keller Williams Realty
THE HOOSIER MARKET
Percentage of Indianapolis-area residents who have done yoga or Pilates in the past 12 months. Source: 2006 Scarborough Research Release 2, designated market area of 2 million adults 18 and older.
Where: 5735 N. County Road 400 West, Bargersville. Asking price: $1.95 million. Contact: John Vance, Keller Williams Realty.
Wine cellar; sauna; lap pool; hot tub; bar; game room; theater; exercise room; gourmet kitchen; master suite has private patio.
◆ Lucas purchased stadium naming rights for $120M. From C1
tributes to loved ones who died, others to lifelong Colts fans. Many orders have come from fans overseas — Germany, Italy, Canada and the Bahamas. A local real estate company is in talks for a massive group purchase — having Realtors and agents’ names and phone numbers on each brick in a sort of marketing gimmick. Indianapolis has an appreciation for brick that few big cities can rival. It started in 1909, when 3.2 million were installed on the track at the Indianapolis Motor Speedway. And hundreds of inscribed red bricks were placed on the sidewalks leading in all four directions from Monument Circle in the late 1970s and early 1980s, reflecting a revival of Downtown. In a nod to tradition, and as a fundraising tool for its foundation, Columbia Club placed 455
personalized bricks on its “pathway to tradition” just four months ago — and more will be installed by spring. Allen Patterson, a bellhop at the Hilton Garden Inn on Market Street, sees bricks almost as much as anyone. He marvels that many still are readable after years of foot traffic, stains and weather. “You see people walking and looking down. They will point down and say: ‘That’s me, and that’s my sister,’ ” Patterson said. Lucas Oil’s Walk of Fame will cost at least $2 million. The Colts are mum about how much they will make but point out most of the money raised will go toward installation and materials. The company overseeing the brick-paver program, Fund Raisers LTD of Boise, Idaho, approached the Colts about the project, Souers said. Fund Raisers has been involved in similar projects elsewhere. If you have been to baseball ballparks in St. Louis, Cincinnati, Denver or San Francisco, you have seen its handiwork. The price tag for Lucas Oil’s
A HISTORY OF BRICKS
From the Speedway to Downtown sidewalks, Indianapolis likes its bricks. Bricks are a popular architectural feature because, as a building material, they evoke tradition, said Mark Dollase, a director with Historic Landmarks Foundation of Indiana. “It speaks of heritage, stability and strength. . . . . Brick, because of its color, has a warmth to it.” In the 1970s, the Commission for Downtown offered the opportunity for the public to buy personalized bricks — just $25 each — as part of a $3.5 million revitalization. It was a way to give Indianapolis residents and visitors a sense of security, said state architectural historian Paul Diebold. “It was part of this idea of
Paving way for stadiums
building up and making Monument Circle more presentable,” he said. St. Elmo Steak House continued the trend in 2002, when it refurbished its Illinois Street sidewalk with 1,000 newly resurfaced bricks with the names of businesses and individuals as part of a centennial celebration. The company also donated $60,000 to charity as well, according to Star reports at the time. Nikki Longworth, executive director of City Market, where personalized markers in a quilt pattern have graced Whistler Plaza since about 1997 — and where space on a brick is still for sale — says there’s a reason for the popularity. “It associates you with that organization and place,” she said. “It’s kind of a neat way to link yourself with history in an enduring way.” — Tom Spalding
lowest-priced brick — $150 for 4by-8-inches — is lower than the $155 paid for by Cardinals’ fans in St. Louis’ Busch Stadium but higher than the $75 that Cincinnati Reds fans paid in 2001 and 2002 at Great American Ballpark, the St. Louis Post-Dispatch
reported. Calls to Fund Raisers weren’t returned, but its Web site boasts that the bricks are hardy, with letters that are engraved oneeighth of an inch to one-quarter of an inch deep, ensuring “future legibility, happy donors and pride
in the project for years to come.” Howard Bloom, publisher of Sports Business News, says the appeal of bricks is as much a measure of a team’s won-loss record as fans’ loyalty. But AnneMarie Hastings, vice president of client relations for baseball’s San Francisco Giants, said the novelty still hasn’t worn off from the roughly 4,000 bricks put in Willie Mays Plaza before the construction of the Giants’ ballpark in 2000. “Oh, yeah, it’s a huge attraction,” she said. “We joke about it all the time: We have people who walk around the plaza with their heads down and bump into each other. It definitely adds personality.” The folks who pony up for a spot on the Colts’ Walk of Fame may get more of a bargain than they know. Lucas purchased the naming rights for about $120 million for a 20-year period. But these days, stadium names change all the time. Pavers may prove more durable. “It’s going to be there permanently,” Souers said. ✭ Call Star reporter Tom Spalding
at (317) 444-6202.
BRICK BY BRICK
Commemorative bricks around Downtown Indianapolis: Where: All four directions extending from Monument Circle along parts of Market and Meridian streets. When: Roughly 1978 to 1980. Sponsor: The Commission For Downtown. Why: The “buy-a-brick” program helped refurbish the Circle as part of a $3.5 million project that included nonpersonalized brick streets, personalized brick sidewalks, trees and ornate lighting fixtures. Factoid: Hundreds of personalized bricks were put in at cost of $25 each. Where: Whistler Plaza at City Market, facing Delaware and Market streets. When: Roughly 1997 to 1998. Sponsor: Invest in the Market. Why: A committee established an endowment to help maintain and preserve the landmark market. Factoid: Cost per paver ranged from $250 to $2,000. There are about 50 big squares in a checkerboard-like display. Where: In front of St. Elmo Steak House, 127 S. Illinois St. When: 2002. Sponsor: The restaurant. Why: St. Elmo Steak House unveiled its newly resurfaced brick sidewalk and issued checks for $30,000 each to Riley Hospital for Children and Second Helpings during the restaurant’s six-month Centennial Brick Drive. Factoid: More than 1,000 customized, engraved bricks were sold to businesses and individuals. Where: In front of the Columbia Club, 121 Monument Circle. When: 2006. Sponsor: The Columbia Club Foundation. Why: As a fundraiser. Factoid: More than 450 bricks were placed in the awning-covered walk, “Pathway to Tradition” at the front entrance. Cost is $250 for a 4-by-8 brick, and nonmembers can purchase them. Source: Indianapolis Star archives and research
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