Central Indiana home sales improved slightly in 2011
Closed sales last year inched up 1.2 percent in 13 area counties and jumped 18.3 percent from July through December, bolstered by a 7.2-percent increase during the last month of 2011.
Residential Real Estate
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Hundreds of houses available as Super Bowl rentals
Indianapolis-area homeowners are looking to cash in by opening up their homes to visitors for daily prices ranging from about $700 to $9,000, but demand may not come until participants in the big game are settled.
Falling home inventory suggests market is firming up
About 12,000 homes were listed for sale at the end of December in the nine-county central Indiana market, a roughly 18-percent drop from a year earlier.
State auctioning surplus farmland at height of market
Up for grabs are 670 acres of prime farmland southwest of Pendleton between Interstate 69 and U.S. 36.
Indianapolis-area home sales close year on the rise
Home-sale agreements increased 7.9 percent in the nine-county Indianapolis area in December, helping the region eke out an annual gain of less than 1 percent.
Metro home-building activity sinks again in 2011
New-home construction in the Indianapolis area slid in 2011, marking six straight year-over-year declines in residential building. The 3-percent decrease in building permits, however, was the smallest decrease since 2006.
Local developer rescues 1913 apartment building from wrecking ball
A local developer and historic preservation group have teamed up to save a 1913 apartment building near the Children’s Museum from demolition.
Progress slow on variety of metro area deals
Many projects we reported on here over the past year are still in progress, confirming that the real estate market is still sluggish.
Real estate meltdown leaves developers reeling
It was another rough year for the real estate sector in 2011, as the homebuilder Estridge filed for bankruptcy, strip-center specialist Broadbent struggled to hold onto its headquarters, and Centre Properties faced a $43 million foreclosure suit.
Park Tudor land purchase puts stop to housing development
The private school recently bought the 5.7 acres north of its campus that Dr. Bill Nunery, a local ophthalmologist, had planned to develop into an upscale residential enclave known as Grace Hill.
Metro home-building activity down in November
In the nine-county metropolitan area, the number of home-construction permits filed last month dropped to 225, a 13-percent decrease from the same month in 2010.
East-side apartment complex target of $9M foreclosure
A Marion Superior Court judge has approved the appointment of a receiver to manage Lexington Park near North Post Road and East 38th Street.
Carmel office/retail complex hurt by road project gets second chance
Merchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start after major road construction drove away tenants and caused a previous owner to default.
Area home-sale deals make November jump
The 7.2-percent increase last month in Indianapolis home-sale agreements marks the seventh straight month of year-over-year increases, according to a report from F.C. Tucker Co.
Developer plans 26-story tower along canal
Valparaiso-based Investment Property Advisors wants to build an $83 million apartment project for college students on one of the last available parcels along downtown’s Central Canal.
Keystone Towers redevelopment could start in April
The first phase of the $22.5 million project, dubbed The Point on Fall Creek, would involve the construction of 58 apartments. Another 80 units would follow, complemented by a retail component.
Ex-Speedway boss plans 4-lot subdivision on north side
Former Indianapolis Motor Speedway CEO Tony George and his wife had tried unsuccessfully to sell their 12-acre wooded estate and now are planning to divide the land into a four-lot subdivision.
New deals add to robust year in apartment sales
The number of transactions has more than doubled compared with last year, a spike in deal flow caused by healthy occupancy rates and a combination of ample supply and low borrowing costs.
Builder, developer partner in turnaround firm
Providence Homes was started earlier this year by Mitch Davis, 42, a former vice president of the now-defunct CP Morgan Homes; and Brian Mann, 44, managing partner of Mann Properties.
Flaherty nears deal for Cosmopolitan investment
The developer of downtown’s Cosmopolitan on the Canal is nearing a deal to sell a stake in the building to an investor in a move that could free up capital to launch a $24 million second phase.