Lafayette Square slated for $12M redevelopment

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	Friday, March 14, 2008
	Lafayette Square slated for $12M redevelopment The new owners of Lafayette Square Mall are plotting a $12 million redevelopment that would add a go-kart track and PC gaming area to anchor space formerly occupied by L.S. Ayres. New York-based Ashkenazy Acquisition Corp. wants to make maximum use of the 113-acre property, which it bought from locally based Simon Property Group in January. Plans include a sale of out lots, a larger food court, a facade and landscaping upgrade, and a goal to fill vacant anchor spaces by the end of 2008, said Ryan Zickler, a local retail broker who is consulting on the project.   Lauth lays off another batch of workers Indianapolis developer Lauth Group Inc. is letting go of dozens of employees in its second round of layoffs this year. Lauth, which frantically added employees in recent years to manage a booming development pipeline, said the economy is to blame for the reverse in course. "As a direct result of the continued downturn of the national economy, the real estate industry is experiencing reduced project starts, and, therefore, we have to realign our staffing levels accordingly," said spokesman Marc Lotter.
	Conseco shareholder wants board seats Investment partnership Steel Partners II LP has asked Conseco Inc. to nominate two representatives to the insurer's board, according to a Securities and Exchange Commission filing yesterday. Steel Partners President Jack L. Howard asked the company to nominate himself and CEO Warren G. Lichtenstein as directors. In a letter to Conseco CEO C. James Prieur, Howard said the company's value is not reflected in its stock price.   Venu woes mount for Premier Premier Properties USA Inc., which is fending off creditors at properties in Ohio and Plainfield, also has fallen behind on its bills for Venu, the massive mixed-use project the company has proposed at the southwest corner of 86th Street and Keystone Avenue, and for its headquarters at Woodfield Crossing. Local companies chasing Premier include Charles C. Brandt Construction Co. and Barth Electric. Read more at IBJ's real estate blog, Property Lines. Vera Bradley suppliers to close, lay off workers Three Fort Wayne companies that provide products to handbag maker Vera Bradley Designs Inc. will close their doors, putting more than 500 people out of work. A Vera Bradley spokeswoman says the company is bringing its domestic sewing work inside the company. The company is co-owned by Patricia Miller, the first Secretary of Commerce under Indiana Gov. Mitch Daniels, serving in 2005.   Votes expected today on property tax plan Lawmakers face a midnight deadline to accomplish their No. 1 priority this session - passing legislation to provide immediate, significant and lasting property tax relief. Lawmakers from both parties in the Democrat-controlled House and Republican-ruled Senate seemed prepared to vote on a compromise plan late last night, but Senate Democrats said they wanted more time to review the legislation. Sen. Vi Simpson, D-Bloomington, said Senate Democrats, who are in the minority, wanted to examine in detail how it would affect their communities and local schools. But, she said, "I think everybody wants a bill."   Suspicious package turns out to be turnip A raw turnip was at the root of a bomb scare that lasted for hours at a Fort Wayne law office. An employee at Haller & Colvin Attorneys at Law called 911 yesterday after opening a U.S. Postal Service box and finding a suspicious gift bag inside, police said. It was unclear who was supposed to receive the vegetable.   Blog: Big Ten Network blackout helps sell tickets Big Ten men's basketball tournament tickets are selling fast, according to local organizers. Today's Indiana and Purdue games are only on the Big Ten Network, which means they will be blacked out across most of Indiana. That is pushing ticket demand even higher. If IU and Purdue win today, attendance could near record highs. To weigh in, go to IBJ's new sports business blog, The Score. From IBJ staff - Compiled by Norm Heikens
	No tickets left for Obama visit No more tickets are available for Barack Obama's visit to the Indianapolis area. Free tickets for his Saturday stop in Plainfield were taken in fewer than 90 minutes yesterday. The Democratic presidential candidate plans to answer questions in a 2:30 p.m. town hall meeting at the Plainfield High School gymnasium. Fox 59 will have more at 10 p.m. Carson gets to work on property taxes Newly elected 7th District Congressman Andre Carson hit the ground running. After his swearing-in yesterday, the Democrat co-sponsored legislation that could affect federal property tax deductions. Big 10 tourney brings crowds to Indy Thousands of fans are expected to flood Indianapolis tonight as Purdue and Indiana universities play in the second round of the Big Ten men's basketball tournament at Conseco Fieldhouse. The Indianapolis Convention and Visitors Association estimates the tournament brings $50 million dollars to the city each year. One downtown bar manager says he's already seen better-than-anticipated sales.
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