$50M Penrose on Mass project to get underway following parcel sale
The project will include 236 apartments, 40,000 square feet of retail space and a 379-space parking structure.
Residential Real Estate
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Contest seeks downtown home design at affordable price
Downtown Indy has launched IN_fill, Designed to the Core, calling on Indiana architects to design a single-family home that can be built on an urban lot for $225,000.
Officials want $150K loan tied to Muncie project paid back
The $150,000 loan to a businessman was made more than three years ago as part of an effort to redevelop a Muncie building and create jobs.
Real estate agents lick chops as wealthy Trump team moves into D.C.
President-elect Donald Trump is moving to the nation’s capital next month and bringing with him an administration of millionaires and billionaires who are going to need places to live. Many are looking right now.
Local Realtors’ group getting first new leader since 1990
The MIBOR Realtor Association on Thursday announced that Shelley Specchio will become CEO on Feb. 1, succeeding the retiring Steve Sullivan.
Local builders see big surge in demand for new homes
Permit filings through November have already exceeded the number filed in all of 2015 and surpass the total of any single year since 2007.
Historic Martinsville buildings part of $8.4M senior-housing project
A redevelopment of the three buildings, led by Flaherty & Collins, will make way for 38 apartment units for residents 55 and older. The project pays homage to Martinville’s history as a mineral-springs hotbed.
City shifts more TIF risk onto developers
The Hogsett administration has begun using TIF financing for neighborhood projects, but the developers have to agree to back the bonds.
Preservation commission holds off on decision for Chatham Arch project
The Indianapolis Historic Preservation Commission wants the developer of a proposed mixed-use project including condos, town houses and single-family dwellings to take another shot at addressing commissioners’ concerns.
Downtown Indianapolis condo goes for $4.8M in possible record sale
Encore Sotheby’s International Realty said the property was the largest single-family residential real estate sale in the local office’s six-year history and the largest ever in Marion County listed in the Metropolitan Indianapolis Board of Realtors database.
Housing developer proposes 265-acre project next to Grand Park
Drexler Woods would include 490 single-family homes spread across 185 acres, as well as attached residential units and land for business use. Westfield officials will take a closer look at the project on Monday.
Estridge, Browning plan 100 homes, inn on Simon’s Asherwood estate
Local homebuilder Paul Estridge Jr. has agreed to purchase the sprawling Simon estate on Ditch Road known as Asherwood and is proposing a development of 100 custom homes and an inn on the 107-acre property.
Community development veteran takes reins of once-troubled city land bank
Bruce Baird is leaving the Indianapolis Housing Agency to direct Renew Indianapolis, the not-for-profit that aims to return vacant properties to the city’s tax rolls.
Noblesville pushes to diversify housing
A housing analysis the city recently commissioned identified a gap between single-family homes and multifamily apartments–few townhomes, condos, cottages and duplexes in dense, walkable areas.
Central Indiana existing-home sales on the rise
Existing-home sales in central Indiana rose 3.6 percent in October amid rising prices and a continuing decline in housing inventory.
Study says swaths of city in decline
A new study commissioned by the not-for-profit land bank Renew Indianapolis shows that just a tiny fraction of the city’s population is benefiting from renewed investment.
Local builders still seeing rising demand for new homes
Area home builders saw surging demand for new homes for the 11th month in a row in October, the Builders Association of Greater Indianapolis reported Wednesday.
East-side St. Clair Place surging to housing revival milestone
With assistance from Near East Area Renewal, the neighborhood has seen 90 new or refurbished homes come on the market since 2010. And that number is expected to grow to 100 next year.
North-side apartments change hands in $70M-plus deal; $10M rehab begins
Local firm Birge & Held Asset Management bought the property on East 82nd Street and is starting to renovate all 740 units—a task expected to present some logistical challenges.
Carriage houses offer homeowners supplemental income, space for guests
Homeowners are looking to capitalize on the hot downtown housing market by creating rental units—and they no longer need to seek a variance to build them under new city zoning rules, cutting down on the time and red tape.