A new lease on life for the Murphy Art Center

Members of the Fountain Square artists’ community have been nervous for the past year, since the “for sale” sign went

The one-time home of the G.C. Murphy Co. “five-and-dime store” will continue to offer space for artists on the upper levels of the Fountain Square landmark.

up in front of the Murphy Art Center.

They are now breathing easier, following last month’s word that real estate developers Larry Jones and Craig Von Deylen have partnered in a project that will maintain the historic Fountain Square landmark as a home for art studios.

“The response from the artist community has been phenomenal,” said Von Deylen. “Within three weeks, we had every artist studio leased and now have a waiting list.”

There are plenty of leasing opportunities, however, for the 21,000 square feet of commercial space on the ground floor – especially the space facing Virginia Avenue. The storefronts were, for a few weeks, completely vacant following the relocation of Dolphin Papers to Franklin and Gusto restaurant to the city’s Far Southeast side.

That situation ended Sept. 19 with the opening of Indy Swank, a store featuring work from local artists, hand-crafted accessories and home décor products.

Larry Jones (left) and Craig Von Deylen took over management of the Murphy Art Center on Sept. 1, and are working on a purchase agreement.

Jones and Von Deylen have, separately, already been active in the redevelopment business. Jones’s other ventures include the Chatham Center in Chatham Arch and the Lincoln Park Shops at 25th Street and Central Avenue. Von Deylen, a principal with Perkins Von Deylen Architects, has renovated the Fletcher Place Lofts, the new Fletcher Place Terrace, and the proposed Fletcher Place Arts Building – the former M.A.I.L. distribution center on Virginia Avenue which will soon house, among other arts enterprises, the Indianapolis Museum of Contemporary Art.

Jones and Von Deylen took over management of the Murphy on Sept. 1 after forming a new company, Murphy Art Center LLC. Now, the two men are in the process of securing financing to execute a purchase agreement with the previous owners.

The building known as the “Murphy” has been a mainstay in the Fountain Square area, since the original Schreiber Block Building was constructed in 1884. In 1954, the G.C. Murphy Co. combined the Schreiber Block with the Granada Theatre, which had been constructed across the alley in 1928.

G.C. Murphy operated its “five-and-dime store” until 1998. In 1999 the building was reborn as the Murphy Arts Center, owned by two local artists who formed a company to manage the property which features 21 upper level artists’ studios.

Jones expressed confidence in the future of Fountain Square. “People have been saying that Fountain Square has potential for years,” Jones said. “We don’t buy potential – we actualize it. The building is the perfect opportunity to fill the growing demand for mixed use arts and business development.”

Shauta Marsh of Big Car Gallery, one of the Murphy’s tenants, expressed relief at the new management. “After more than a year of keeping our plans tentative and looking at one month at a time,” she said, “Big Car is excited and relieved that Craig and Larry have bought the building. They are dedicated to the neighborhood and want the Murphy to remain an important part of the art scene. This is great news, not only for the tenants of the building and Fountain Square, but also for the city.”

Linton Calvert, president of the Fountain Square Merchants Association, likewise praised the development. “It’s great news to keep the arts culture in Fountain Square,” Calvert said. He added, however, that some onlookers had hoped, if the art center concept proved unfeasible, that the building might be redeveloped into apartments – a particular shortage faced by Fountain Square.

The buildings newest retail tenant, Indy Swank, held its grand opening on Sept. 19. The shop features work from local artists, hand-crafted accessories and home décor products. Jones and Von Deylen are actively recruiting additional retail tenants.

“Fountain Square is established as an arts destination, which creates a lot of potential for businesses,” Von Deylen said. “The development of the Cultural Trail along the doorstep of the Murphy just reinforces the building as the ideal location for retail.”