Citizens Energy Group on Thursday announced an agreement with landlord JPC Affordable Housing that will result in the sale of four properties and relieve most of JPC’s past-due utility-bill debt, now totaling more than $1.9 million.
The local developer is planning several modifications to the complex, including the addition of two floors, more than 50 apartments and a new parking garage.
The site is just a few minutes from key employers in the airport corridor, including AAR Aircraft Services, Express Scripts, FedEx and Rolls-Royce.
The Fair Housing Center of Central Indiana and 11 partners in other states have reached a settlement agreement with a New York-based operator of senior-living apartments, including several in the Indianapolis area.
Plans call for the apartments to be constructed at the northwest corner of 96th Street and Allisonville Road as part of a larger, $96 million development.
The properties, which total 2,103 units on more than 165 acres, have seen significant rent growth in recent years and likely will see more after renovations by the new owner.
The Low-Income Housing Tax Credit program, in conjunction with the Multifamily Tax Exempt Bonds, are used to incentivize private developers to fund the construction, acquisition and rehabilitation of affordable housing communities throughout Indiana.
The team behind the proposed redevelopment of the Willows Event Center into apartments near Broad Ripple has withdrawn its proposal, just hours before it was set to be considered by a city commission.
Residents living in Johnson Addition worry about increased traffic and housing costs, and fear for the future of their neighborhood.
Local developer Keystone Corp. has drafted new plans for its long-simmering Alexander at the Crossing mixed-use project that includes 275 apartment units, plus retail and office space and a hotel. Some nearby residents are opposed to the project for its size and density, as well as for further commercializing 86th Street.
Construction is starting to shape the first piece of a massive mixed-use redevelopment in downtown Noblesville that will add more than 200 apartment units by 2025.
The Metropolitan Development Commission continued a public hearing on the Willows redevelopment project near Broad Ripple following requests for a postponement by both the developers and remonstrators.
The complex at 4822 E. Edgewood Ave. would consist of 280 apartments and 96 townhomes, as well as four commercial outlots. But the nearly 20-acre footprint needs to be rezoned.
The siblings who own soon-to-close Willows Event Center on Spirit Lake want to redevelop the site into more than 250 apartments and town houses.
The development team behind a hotel planned for a parcel across from Shapiro’s Delicatessen in downtown Indianapolis is adding about 60 apartments to the mix, as well as a rooftop restaurant.
The city’s Metropolitan Development Commission on Wednesday voted 6-0 against a recommendation for Homestead Development LLC’s rezoning request for 13.6 acres at 7525 McFarland Blvd. for more than 300 residential units.
The plan by Homestead Development consists of two components. The first would be a single apartment building for individuals age 55 or older. The other would be an eight-building complex containing market-rate apartments.
The burden of rising rents falls heaviest on younger households, as well as on Black and Hispanic families, further exacerbating long-simmering inequalities.
The Wulsin Building at 222 E. Ohio St. is expected to be acquired by an investment group later this spring. The buyers plan to spend up to $6 million to convert the eight-story structure to market-rate apartments.
The landlords are many months and more than $2 million behind on utility bills, putting more than a thousand households at risk of homelessness should Citizens Energy Group cut utility services to the complexes.
