City code enforcement rethinks rental housing strategy
Indianapolis is reconsidering plans for cracking down on negligent landlords through a rental-housing registry after the Legislature enacted a one-year moratorium on new fees.
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Noblesville OKs $40 million upscale apartment project
The vast multifamily project in the city’s massive Corporate Campus would effectively close out such development there. City officials hope it will attract more businesses.
Local housing projects get $3.4M boost from tax credits
The Indianapolis developments include new apartments for seniors, the developmentally disabled and homeless veterans, using sites such as Fort Harrison and the former Central State grounds.
One Mass Ave project starts; another one is in limbo
Insight Development has begun building an $11.5 million, 61-unit apartment project at Massachusetts Avenue and East and North streets. But the fate of the second phase is up in the air because its financing had been tied to a project Insight and Flaherty & Collins Properties had hoped to develop across Mass Ave at the site of the Indianapolis Fire Department headquarters.
Package of 16 apartment complexes back on the market
The local Zender Family Limited Partnership again is attempting to sell the buildings after failing to attract a suitable buyer four years ago. The family is expecting better results this time because it’s willing to break up the portfolio and sell the buildings individually.
Large Broad Ripple apartment complex slated for $10M renovation
New owner of property bought out of foreclosure seeks city revenue bonds, state low-income housing tax credits.
Firm pitching Super Bowl rentals in Indy ordered to pay up
An Indianapolis judge has ordered a Phoenix-based home rental company to pay nearly $218,000 for not providing promised services before the Super Bowl last February.
Milhaus buys 55 acres on Keystone to build 300 apartments
One of the most conspicuous local remnants of the condo crash—an unfinished $150 million South Carolina-themed community near Keystone at the Crossing—could finally be completed, as apartments.
Penn Arts owner buys historic apartment building
The Piccadilly, at 16th and Pennsylvania streets, will undergo a historically sensitive renovation of its 58 units.
Apartment convenience luring would-be homebuyers
Developers are catering to nontraditional renters by building units resembling upscale condos.
Hundreds of houses available as Super Bowl rentals
Indianapolis-area homeowners are looking to cash in by opening up their homes to visitors for daily prices ranging from about $700 to $9,000, but demand may not come until participants in the big game are settled.
Apartment project planned for south end of Monon
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.
Court case might roil not-for-profit tax rules
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.
New apartments in 2012 on track for a 25-year high
A survey of developers suggests up to 3,438 new units could hit the rental market next year, which would be the highest total since 1987, when central Indiana gained about 4,500 units.
Hot apartment market sees robust sales
Gene B. Glick Co.’s purchase of the 240-unit Thompson Village apartment complex on the south side is the most recent deal in a year full of apartment transactions.
Builders offer new twist on move-up incentive
Instead of offering to help would-be buyers of new houses sell their old homes, Marketplace is offering to become a rental property manager for as long as six years.
Whitsett proposes 86-unit downtown apartment project
The $7.2 million project, to be financed with affordable-housing tax credits, involves retrofitting the three-story former Central Restaurant Products building to accommodate one- and two-bedroom apartments.
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.
Work begins on Penn Arts apartment, retail project
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two
equity partners for the project because banks were unwilling to lend.
Disagreement about parking delays project on Meridian Street
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.