The Indianapolis City-County Council and Metropolitan and Economic Development Committee are considering tax-increment financing for three apartment developments that prioritize access to transit.
The overall, $50 million master development is receiving $8.5 million in public funding, including $3.5 million from the Indiana Regional Economic Acceleration and Development Initiative, or READI.
The National Association of Realtors said Thursday that sales of previously occupied U.S. homes fell in September for the eighth month in a row.
The Fort Harrison Reuse Authority has offered a 3.8-acre parcel of land to developer Keystone Group for $10 as an incentive to go ahead with the project.
Single-family building permits have fallen on a year-over-year basis for the past nine months and in 12 of the past 14 months.
Overall shelter costs in the United States saw their biggest year-over-year increase since 1982.
The construction of tens of thousands of rental homes could help rebalance the broader housing market. But critics say build-to-rent arrangements are exacerbating long-simmering inequalities by making homeownership even more elusive.
The beefier rates mark highs not seen in 15 years, before a crash in the housing market triggered the Great Recession.
The bonds and tax credits provided through the Indiana Housing and Community Development Authority are used to incentivize private developers to fund the acquisition, rehabilitation and construction of affordable housing communities.
Indianapolis officials said the agreement announced Thursday is expected to give the city more control of the crime-plagued housing complex.
Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2007 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy.
Rising mortgage rates, supply-chain issues, increasing costs and limited lot availability are hampering the market, according to industry experts.
The price was the highest ever paid for a private estate in Indiana history, according to listing brokerage Encore Sotheby’s International Realty.
Rising interest rates—in part a result of the Federal Reserve’s aggressive push to tamp down inflation—have cooled off a housing market that has been hot for years.
Closed sales in the 16-county central Indiana area drooped from 3,883 in August 2021 to 3,461 last month—a year-over-year decrease of 10.9%, according to the latest data from the MIBOR Realtor Association.
The Monon 32 and the Domino, two projects in the 14.5-acre Monon 30 project, have received approval for their own respective tax increment financing districts and millions of dollars in bonds.
The developer behind the proposed revamp of the former Jail II and Arrestee Processing Center facilities on the eastern edge of downtown Indianapolis said he expects city incentives for the project to be secured by the end of this year.
The developer of Riverbank Townhouses—featuring units with listing prices beginning at $750,000—hopes the project will encourage more homeownership in the village.
The facade-replacement project is expected to resolve to longstanding water-infiltration issues at the 30-story towers.
After decades of gray-dominated interiors, other colors are starting to rise to the forefront, including white, green, blue and yellow.
