Trail Side funding finally closes
Financing for construction of a $10 million, mixed-use building at 875 Massachusetts Ave. closed Dec. 22, allowing developers to proceed with the project after a funding snag nearly killed it.
Apartments
Articles
Report: Local apartment market strong in 2010
Occupancy in the Indianapolis metro area grew last year to 90.8 percent, according to the latest annual market report compiled by apartment brokerage Tikijian Associates. The downtown market, in particular, boasted strong numbers.
Glick partnership buys Maxwell apartment building
Gene B. Glick Co. and Milhaus Development LLC have purchased The Maxwell from Star Financial Bank. Located at 530 E. Ohio St., the project originally was developed as condos by Kosene & Kosene.
$7.5M Fletcher Arts project gets back on track
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project just west of the intersection of Virginia Avenue and East McCarty Street.
Cosmopolitan apartment fire prompts lawsuit
The insurer for Indiana Landmarks is suing developer Flaherty & Collins, claiming negligence in a blaze that partially destroyed the apartment project and damaged the not-for-profit’s adjacent headquarters.
Geist apartment complex sale ends drought of Class A transactions
Grande Reserve at Geist fetched $13.3 million, just shy of the asking price.
Di Rimini violations reveal holes in process that relies on trust
Brazen violations of city design guidelines and state building codes by the developer of the Di Rimini apartments cast a spotlight on what is essentially an honor system of regulation for developers once they win approval for their projects.
Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
Owner of city apartment complex files Chapter 11
The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.
Greenfield apartment market heats up with sales, development activity
The Hancock County community is drawing interest because of recent hiring in the area and a strong population of seniors.
Indianapolis-area experts see bright spots amid ongoing real estate weakness
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
Downtown praised for ‘livability’ but needs more residents
The past decade has seen roughly 5,000 more residents living downtown than in 2000, wooed by new condos and apartments within walking distance of growing retail and cultural attractions. There are now 25,000 downtown residents—but still a long way from the 40,000 city leaders want by the end of the next decade.
City not impressed with fixes proposed by Di Rimini developer
Developer Jeff Sparks met with city planners Oct. 1 to propose fixes to the apartment project at Capitol Avenue and St. Clair Street.
City halts apartment developer
The Near North Development Corp. asked the city in a Sept. 2 e-mail to compare the renderings for the Di Rimini apartment project at 733 N. Capital Ave. with what was actually taking shape. A week later, the Department of Code Enforcement issued a stop-work order for the project.
Tax caps spread relief around
Property tax caps—promoted as a way to relieve homeowners from skyrocketing property tax bills—have provided much more relief to a different group of taxpayers. Owners of rental properties and second homes got the lion’s share of assistance from the caps.
Developer seeks rezoning for Canal apartments
The city’s Division of Planning was set to hear a request Thursday afternoon by Valparaiso-based Investment Property Advisors LLC to rezone property near the Central Canal for a 150-unit apartment complex.
Home construction jumps nationally
Housing starts are up 25 percent from their bottom in April 2009. But they remain 74 percent below their peak in January 2006.
Fishers becomes draw for seniors projects
One skilled-care facility is about to open and another will break ground this month.
Van Rooy buys Greenwood apartment complex
Indianapolis-based company purchases 438-unit Westminster Apartments from court-appointed receiver. The listing price of the property was $8.2 million.
Groundbreaking nears for $4.5M apartment project
The 62-unit project called National Apartments on the Monon is the latest phase of the Martindale on the Monon redevelopment
project, which began in 2005. The developer is Indianapolis-based Development Concepts Inc.