New-home applications still rising in Indianapolis area
Indianapolis-area homebuilders saw a surge in construction permits for new houses in November, marking the 14th straight month of year-over-year increases.
Residential Real Estate
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Rockstone plans Bedrock HQ, campus for entrepreneurs in Noblesville
Rockstone Investments, parent company of Bedrock Builders, would spend $4.3 million to construct 31,000 square feet of office space plus a 17,000-square-foot warehouse.
Fishers City Council approves zoning change to allow income-based, age-restricted apartments
The council gave the green light Monday to RealAmerica LLC’s plan to build a 130-unit complex along the proposed Nickel Plate Trail that would include 65 apartments with rents based on income.
Toronto firm adds to Indianapolis holdings with two apartment acquisitions
Emma Capital Investments Inc., which entered the Indianapolis market earlier this year, has acquired apartment complexes on the city’s north and northeast sides totaling 496 units.
Chatham Arch residential project set to move forward after legal battle
The Indiana Supreme Court declined to consider a case that was delaying the proposed redevelopment of the 800 block of North East Street. The project includes more than 50 condominiums, retail space, townhouses and single-family homes.
Neighbors of Mile Square apartment project satisfied with bigger, reconfigured plans
The proposed development at 421 N. Pennsylvania St. has undergone extensive changes since this spring, including rising from seven to 11 stories.
City poised to offer $1.6M to acquire troubled Oaktree Apartments
The abandoned, 336-unit complex “presents considerable safety and security challenges” for its surrounding neighborhood, according to the city.
Local apartment brokerage Tikijian Associates bought by Cushman & Wakefield
George Tikijian, who founded the company in 2005, said the deal was finalized Thursday following several months of internal deliberation.
Proposed Fishers workforce housing project misses out on tax credits
RealAmerica Development LLC’s plan to build 70 income-based apartments in downtown Fishers has been passed over for housing tax credits that would have helped finance the project.
Coil Apartments in Broad Ripple sold for more than $40 million
A Chicago-based private-equity firm acquired the grocery-anchored 151-unit complex from a partnership consisting of developers Browning Investments and Sheehan Construction Co.
Vote postponed on controversial Broad Ripple apartment project
The developer of a proposed 164-unit apartment complex in the heart of Broad Ripple said it would consider going back to the drawing board in an effort to get the blessing of some area residents who have concerns about the project.
Central Indiana existing-home sales show monthly increase
Sales and prices for existing homes were both on the rise in October in the 15-county area, according to the latest data from the MIBOR Realtor Association.
Developer spending $15M to build senior villas on 86th Street
A senior housing community east of the St. Vincent Hospital campus is expected to undergo a major expansion over the next year that will add several dozen independent-living residences.
Area builders still seeing rising demand for homes, but pace is slowing
Indianapolis builders saw the smallest monthly increase in applications in the past year in October, and six of the area’s nine counties saw declining permit filings
Area’s largest apartment complex sold in five-property deal worth $121 million
The new owners have renamed the five Indianapolis-area properties and plan to spend at least $29 million on renovations and upgrades.
Developer eyes mid-2019 for completion of $2M Fall Creek townhouse project
The project by Litz & Eaton Development Co. will add five new, 2,100-square-foot townhomes to the southwest corner of North Delaware Street and Fall Creek Parkway South Drive.
Townhomes planned on former service-station site in Fountain Square
The project is slated for an odd triangular parcel along one of Fountain Square’s main arteries as the neighborhood’s resurgence continues.
Pittman siblings battle over proposed Carmel office project
Developer Steve Pittman’s proposal to build an office building at 106th and Illinois streets is moving forward through the approval process, despite contentious pleas from two of his siblings that the project be reworked.
Developer to revamp 50-year-old, south-side apartment complex
Birge & Held plans to rehabilitate the 304-unit community and target low- and moderate-income renters, who face a shortage of affordable housing.
Central Indiana existing-home market showing signs of weakness
Existing-home sales in central Indiana fell in September, the third month of declining sales out of the last seven, amid subpar home-buying conditions.