The Federal Home Loan Bank of Indianapolis, commonly known as a private-sector bank for banks, announced July 17 that it awarded $10 million in affordable-housing grants in Indiana and Michigan, including two $500,000 grants for projects in Indianapolis.
Only about 2 percent of the avalanche of residential units built in Hamilton County the last five years is dedicated to affordable housing.
U.S. builders broke ground on apartment complexes last month at the fastest pace in nearly 28 years, as developers anticipate that recent jobs gains will launch a wave of renters.
Five of the six buildings that Indianapolis Public Schools put on the block last month have attracted offers, with bidders appearing to lean toward renovating several as apartments.
Chase Development LLC plans to build 12 condos ranging from nearly $400,000 to $1.2 million as part of its 500 Park Residences project at the northwest corner of East Michigan Street and Park Avenue.
A par-3 golf course on the city’s north side could be replaced by a $45 million apartment community with nearly 400 units, much to the chagrin of neighbors opposing the massive project.
Gary Hobbs and his wife, Lori, have built BWI LLC into a fast-growing developer of affordable housing with 48 employees and more than $10 million in annual revenue.
A 32-unit apartment project on Capitol Avenue, formerly known as the Di Rimini, is leasing up as new ownership finishes fixing all the flaws.
Merchants Affordable Housing Corp. plans to spend at least $30 million to buy and rehab 10 buildings, most of them north of downtown.
Flaherty & Collins Properties already is selling a stake in its brand new downtown Axis at Block 400 apartment development to cover expensive cost overruns on the project.
BWI LLC has purchased an industrial property near Fall Creek Parkway and East 38th Street and plans to convert the building into 49 affordable and market-rate units.
Annex Student Living LLC wants to build a six-story, 248-unit apartment building along West 10th Street on a four-acre parcel the company has agreed to buy.
The Great Recession caused waves of foreclosures and layoffs that pushed more Americans into renting. More than 36 percent of people now rent, compared with 31 percent before the recession began in late 2007.
TWG Development LLC has abandoned plans to save most of the headquarters after deciding that renovating the oddly configured structure would be too difficult.
For all of 2014, U.S. builders started construction on 1.01 million new homes and apartments. It was the first time construction has topped 1 million since the height of the housing boom in 2005.
Hamilton County firefighters battled a major blaze Tuesday morning that spread through a $35 million apartment complex that's under construction in Fishers at State Road 37 and 131st Street.
Apartment construction downtown and on the north side continued its rapid pace in 2014 as occupancy remained strong.
Advocates for low-income housing are clashing with Indianapolis landlords over a proposal that would make it illegal to reject tenants solely because they use government subsidies to pay their rent.
The Indianapolis-based developer has attracted city and state subsidies to build an upscale apartment development in Kokomo that will cost more than $20 million.
The federal funding will enable AHEPA to convert 24 of 74 units at an area apartment complex into assisted-living housing for low-income disabled seniors.
