Even with deluge of units, downtown apartment demand persists
Apartment occupancy downtown remains near a stellar 95 percent as tenants flood new projects, according to a panelist at IBJ's Commercial Real Estate and Construction Power Breakfast.
Residential Real Estate
Articles
Senior housing planned on key 86th and Meridian corner
A Missouri-based development team wants to build a $10 million senior living center on the last available parcel at one of the north side’s most visible intersections.
Carmel’s $100M Legacy attracting retail projects
Since Virginia-based Falcon’s Nest purchased the 400-acre development in 2011, residential construction has slowly been increasing. Now, some commercial development is beginning to follow.
Preservation group delays action on project with ‘digital canvas’
Members of the Indianapolis Historic Preservation Commission say they postponed a vote on the Mass Ave project at the request of City-County Council members who argue the building’s massive screen could run afoul of billboard rules. Commission members also questioned the building’s design and even its bold colors.
Historic downtown apartment building on the block
Summit Realty Group is accepting offers until Oct. 1 on the 23-unit Janus Lofts at 240 S. Meridian St. The building was redeveloped in 2003 by developer Lee Alig, who is facing numerous charges of securities fraud.
2014 All-Star Real Estate Agents
See which real estate agents and which teams rack up the most sales.
More houses to sell, but fewer agents to sell them
Just as the residential market regains steam, the number of real estate agents is waning.
Architects’ home emphasizes its mid-century roots
A less-is-more design carried through in a careful remodeling, and now under a new owner who likes the nostalgia.
Residential Real Estate: Marketplace
Check out what homes are selling for in your area, as well as which house sold for the most money recently. (It went for more than the asking price.) And see which parts of the Indianapolis area have the greatest incomes.
Broad Ripple jeweler spending $3M to redevelop downtown building
Nick Blum bought a vacant, three-story building south of Massachusetts Avenue and plans to move his Blumlux boutique there. The project will include luxury apartments and space for office users.
$50M mixed-use project on Mass Ave ready to move forward
Montage on Mass will feature 236 apartment units, 36,000 square feet of retail, two levels of underground parking and a giant three-story, electronic-mesh art display.
Fishers proposes $6M in upgrades to 116th Street
The project includes adding a new eastbound lane on 116th Street from Interstate 69 to Cumberland Road. The city would have to acquire as many as eight homes in the area for the necessary land.
Milhaus ramps up expansion with high-profile hire
The local apartment developer has brought aboard Jason Sturman from Duke Realty Corp. to serve as chief investment officer and help guide its Midwest expansion.
Americans waiting longer than ever to buy first homes
The share of the U.S. population who own homes has slid to a 48-year low. The typical first-timer now rents for six years before buying a home, up from 2.6 years in the early 1970s.
Area home deals slip again as prices head upward
Home-sale agreements in central Indiana fell 4.5 percent in July, marking the fourth time in five months that deals have decreased on a year-over-year basis.
Central Indiana homebuilding permits take July plunge
Wet weather and a shortage of lots contributed to a 17-percent decrease in permit filings in the nine-county metropolitan area in July.
Developer seeks tax break on $7.9M Fountain Square project
Deylen Realty is requesting the abatement to offset the cost of building Forte, a 64-unit apartment-and-retail project on part of a surface lot that had been owned by the city.
IPS finds buyer for historic Phillips Temple
Van Rooy Properties plans to spend more than $3.5 million to convert the crumbling structure into market-rate apartments while also constructing a new building on an adjacent lot to the west.
Lender grants $10 million to affordable-housing projects
The Federal Home Loan Bank of Indianapolis, commonly known as a private-sector bank for banks, announced July 17 that it awarded $10 million in affordable-housing grants in Indiana and Michigan, including two $500,000 grants for projects in Indianapolis.
$8M project slated for Fall Creek Place
The development would be built on land at East 22nd and Delaware streets owned by King Park Development Corp. and would feature 47 market-rate units and 9,000 square feet of retail.