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.
Residential Real Estate
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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.
Land bank successor aims for openness
A startup not-for-profit has begun returning vacant and tax-delinquent properties to the city’s tax rolls, stepping into a void left by the disgraced Indy Land Bank.
Hamilton County’s residential boom leaves affordability behind
Only about 2 percent of the avalanche of residential units built in Hamilton County the last five years is dedicated to affordable housing.
Apartment construction drives U.S. homebuilding surge
U.S. builders broke ground on apartment complexes last month at the fastest pace in nearly 28 years, as developers anticipate that recent jobs gains will launch a wave of renters.
Indianapolis-area homebuilding activity shows June jump
Builders filed 530 single-family permits in the nine-county metropolitan area in June, the Builders Association of Greater Indianapolis said Thursday. That's a 9-percent increase from June 2014.
Central Indiana home deals experience June swoon
Central Indiana home-sale agreements slid 4.8 percent in June, the third time in four months that deals have fallen, according to a report released Tuesday by real estate agency F.C. Tucker Co.
Vacant IPS buildings draw bids from developers
Five of the six buildings that Indianapolis Public Schools put on the block last month have attracted offers, with bidders appearing to lean toward renovating several as apartments.
Rare downtown condo project under construction in Lockerbie
Chase Development LLC plans to build 12 condos ranging from nearly $400,000 to $1.2 million as part of its 500 Park Residences project at the northwest corner of East Michigan Street and Park Avenue.
Highland seeks to wedge upscale homes on golf course grounds
The country club on the northwest side foresees 46 houses on 25 acres and using money from the sale of the land to make crucial improvements to the private retreat.
Developer soars with ‘special needs’ housing niche
Gary Hobbs and his wife, Lori, have built BWI LLC into a fast-growing developer of affordable housing with 48 employees and more than $10 million in annual revenue.
Former downtown eyesore attracting tenants following major rehab
A 32-unit apartment project on Capitol Avenue, formerly known as the Di Rimini, is leasing up as new ownership finishes fixing all the flaws.
U.S. pending home sales climb to nine-year high
More Americans signed contracts to purchase homes in May, as pending sales climbed to their highest level since 2006. Signed contracts, however, were down in the Midwest.
Developer pins comeback on $11B project
Sidelined real estate developer Christopher P. White is hoping to make a triumphant return with an $11 billion—yes, $11 billion—proposal for the GM stamping plant site and areas surrounding it.
Supreme Court upholds key tool for fighting housing bias
The Supreme Court handed a surprising victory to the Obama administration and civil rights groups on Thursday when it upheld a law used for more than four decades to fight housing discrimination.
Fountain Square abode is awash in color and playful touches
Fine artist Kyle Ragsdale grew up in Texas and spent years in New Mexico. But when it came time to put down roots in Indianapolis, where he’s lived since the 1990s, he chose the Fountain Square neighborhood.
Hidden gem: Bates-Hendricks neighborhood drawing attention
The blue-collar neighborhood adjacent to Fountain Square suddenly is becoming hip among first-time homebuyers.