North-side apartments change hands in $70M-plus deal; $10M rehab begins
Local firm Birge & Held Asset Management bought the property on East 82nd Street and is starting to renovate all 740 units—a task expected to present some logistical challenges.
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Carriage houses offer homeowners supplemental income, space for guests
Homeowners are looking to capitalize on the hot downtown housing market by creating rental units—and they no longer need to seek a variance to build them under new city zoning rules, cutting down on the time and red tape.
Developer saves Phillips Temple, converts it into apartments
Van Rooy Properties purchased the nearly century-old landmark last year and embarked on a $6 million project to bring 40 market-rate units to the site at 1226 Dr. Martin Luther King Jr. St
Developer of Pulliam project will be first to back new city art program
As the recipient of a $1.1 million city loan, TWG Development has agreed to include public art in its mammoth project on the site of the former Indianapolis Star headquarters.
New wave of downtown apartment projects to test demand
Construction of Penrose on Mass, Park at Pulliam Square and the second phase of CityWay will add another thousand units by the end of 2018.
Indianapolis Section 8 program to open waiting list next week
The Indianapolis Housing Agency hopes more landlords will participate in the program.
Council gives city say in $260M Mass Ave project
The city will have one year to negotiate a project agreement with Hendricks Commercial Properties, which has proposed a $260 million development on the lot at the corner of College and Massachusetts avenues, or be forced to buy the property from IPS.
Developer plans $20M apartment project on Fountain Square block
Nearly an entire city block in Fountain Square soon could be redeveloped, with five old buildings getting torn down and a new five-story project springing up with retail space and 94 apartments.
Ten years after housing’s peak, U.S. more of a renter nation
Renters accounted for all of the 8 million-plus net households the United States added in the past decade. Home ownership has dipped to 63.5 percent, near a 48-year low.
Four Broad Ripple apartment projects could boost daytime traffic
A deluge of apartment projects is on track to bring 500 units to Broad Ripple—a building boom that promises to bolster the daytime traffic village leaders have long coveted.
Flaherty & Collins walks the walk with move from suburbs to downtown
Responsible for a portion of downtown’s apartment boom, the developer hopes relocating to Regions Tower will attract the younger workforce it’s helping bring to the urban core.
IPS board approves Hendricks’ $260M bid to redevelop Mass Ave site
The board followed an outside committee’s recommendation to accept Hendricks’ proposal to redevelop the land at College and Massachusetts avenues. The vote was not without debate, however.
IUPUI student housing building spree to test demand
Four apartment projects totaling more than 1,000 units are either under construction or in the works near IUPUI, as developers capitalize on the university’s transition to a residential campus.
Developer proposing 12-story student-housing tower downtown
Georgia-based Landmark Properties wants to build the project on a triangular surface lot along Indiana Avenue that it’s buying from a local developer.
Developer plans $5.6M revamp, expansion of 16th Street apartments
Axia Urban has purchased the former Bon Air Apartments, between Meridian and Illinois streets, and is set to renovate the three structures, as well as build another.
Study: Renters’ rise extends beyond big cities to suburbs
In the American imagination, suburbs are places to buy a house and put down roots. But a growing percentage of suburbanites rent, according to a new study.
TWG calls off plan for $39M Meridian-Kessler project
The local developer had wanted to convert part of a property owned by AT&T near Kessler Boulevard into a mix of apartments and retail but faced opposition from neighbors.
Bids to develop IPS Mass Ave site top out at $260M
The proposals for the highly visible, 11-acre site suggest a host of office, retail and housing options, with two calling for a boutique-style hotel.
Preservationist group lauds developer’s decision to save building
The firm that’s building 30 apartments near the Madame Walker Theatre is integrating the Willis Mortuary building into the project after initially planning to demolish it.
Apartment boom starts losing steam
Thousands of apartments have been built downtown in recent years to satisfy a voracious appetite for more rental housing in the city’s core. But demand for new apartments in the Indianapolis area finally appears to be softening.