Rents spike as big-pocketed investors buy mobile home parks
Driven by some of the strongest returns in real estate, investors have shaken up a once-sleepy sector that’s home to more than 22 million mostly low-income Americans in 43,000 communities.
Residential Real Estate
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Area homebuilders see 6th straight month of falling construction permits
Applications for newly built houses are continuing to trail last year’s pace in central Indiana, but homebuilders remain busy, according to the Builders Association of Greater Indianapolis.
Housing market chills as mortgage rates, prices scare buyers
Mortgage applications have declined sharply while sales of previously occupied homes have fallen for five straight months, during what is generally the busiest time of year in real estate.
Fischer Homes proposing to build 75 townhouses in Westfield
The high-end townhouses would be constructed on 11 acres of land at the Westfield Yard Planned Unit Development District near State Road 32 and Gray Road.
Area existing-home sales beginning to slow, but prices still rising
The active inventory of for-sale homes rose 47% from the previous month in central Indiana. Higher inventories could help bring down prices in coming months.
New residential projects planned for Westfield’s Grand Park Village
The three proposed projects would add 471 living units to the 220-acre development south of Grand Park Sports Campus.
Indy area’s largest apartment complex sold in six-property deal
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.
Mediterranean Revival home on Meridian Street transcends times
Before purchasing their Meridian Street home, Jakob and Colette Wiesen lived almost directly behind it, on Illinois Street. During those years, they sat in their backyard and imagined what they might do with the beautiful 1927 Mediterranean Revival home and yard they could see.
Two local apartment projects land $55M in affordable housing credits, bonds
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.
Area homebuilders see 5th straight month of falling permits
Builders are coming off their busiest year since 2005, but single-family building permits have fallen on a year-over-year basis in every month of 2022.
Developers propose new golf club community, affordable townhouses in Noblesville
The Noblesville City Council heard proposals this week for two separate residential real estate developments that would create nearly 130 new residences in the city, including more 75 high-end homes near a golf course and 50 affordable-housing options.
Henke Development planning 321-acre private lake community in Zionsville
Promontory of Zionsville would include 80 homes ranging in cost from $1.5 million to $4 million.
Fishers firm gets OK to move ahead with long-stalled project in Lockerbie
Integra Builders has held the one-acre lot at the southwest corner of North Park Avenue and East North Street since January 2020, when previous owner Litz & Eaton Investments LLC sold the site as part of a messy split between the firm’s principals.
Two Indiana courts receive funding to tackle eviction problem
The grant funds will go toward hiring and supporting facilitators in the courts. Those individuals will provide tenants and property owners with information about eviction diversion programs and emergency rental assistance.
Developer proposes 358-unit apartment project at Noblesville’s Hyde Park
Hyde Park Towns and Flats would be built on 17.4 acres of land west of Hamilton Town Center at the southwest corner of East 141st Street and Brooks School Road.
Carmel home of late philanthropist Harrison Eiteljorg goes on market for $1.65M
The home, constructed in 1940, sits in a 4.3-acre wooded, gated estate at 9950 Spring Mill Road. The 12-room house includes five bedrooms and offers panoramic views.
Noblesville project aims to bring more dwellings closer to historic square
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.
Area homebuilders see 4th straight month of falling permits
Rising mortgage rates, supply-chain issues, increasing material costs and limited lot availability are hampering the market.
More buyers opt for adjustable-rate mortgages as rates rise
ARMs made up 13% of all home loans by dollar volume in March, their highest share since January 2020, according to CoreLogic.
City commission delays rezoning hearing for controversial Willows project
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.