Two local not-for-profits have partnered to buy a dilapidated apartment building along the Meridian Street corridor south of 38th Street that was vacated last November due to health and safety concerns.
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.
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.
Near North Development Corp. is serving as master developer of the project, which is using $488,000 in U.S. Department of Housing and Urban Development grants.
The local apartment owner and manager will spend $2.5 million to upgrade Ransom Place near the IUPUI campus from Section 8 housing. It’s the second time the company has undertaken such a project in the neighborhood the past few years.
Poverty is encroaching on the outer townships of Marion County, adding to their handicap in the competition with doughnut counties, where houses are newer, and sidewalks, sewer connections and bike paths come standard.
The Indianapolis Neighborhood Housing Partnership will use the funds to help qualified residents purchase homes and revitalize their neighborhoods.
Banks are pushing for reform to the state’s process for home foreclosures.
Eugene Biccard Glick built a fortune as a residential real estate developer before becoming better known as one the city’s most generous philanthropists. The Indianapolis native and World War II veteran died Wednesday.
Two four-story structures, at the southwest and northwest corners of 30th and Clifton streets, will be built as part of a $10.7 million project that will include 57 units linked by an elevated walkway.
Flock Real Estate Group is investing $1 million to refurbish side-by-side apartment buildings at the northeast corner of 13th and Alabama streets, and Englewood Group is spending $3.6 million to convert a former church across the street.
The Retreat on Washington would be the developer’s second project at the former psychiatric hospital campus on Indianapolis’ west side.
The Friday blaze engulfed a four-story, 28-unit apartment building due to open this fall as part of the $34 million 16 Park project. The Indianapolis Housing Agency says construction will resume as soon as possible.
The fire destroyed part of 16 Park, a $34 million affordable housing development that's intended to help spur a revival of the 16th Street corridor.
The first phase of the $22.5 million project, dubbed The Point on Fall Creek, would involve the construction of 58 apartments. Another 80 units would follow, complemented by a retail component.
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
A Bartholomew County not-for-profit affordable housing development group is preparing to fight in Indiana Tax Court a denial of its property-tax exemption. The denial has put the organization
$200,000 in debt and its rental homes in danger of tax foreclosure.
The Whitsett Group LLC’s plans call for a $22 million project that would include nearly 140 apartments and a retail component on the property where Keystone Towers stood. The company submitted the lone bid to the city to redevelop the site.
King Park Area Development Corp. is partnering with an Indianapolis developer on an $8.7 million residential project to improve a blighted parcel along the trail.
