Ryland purchases 504 local lots from home builder
California-based Ryland Group Inc., the Indianapolis area’s third-largest home builder, said it bought the Indianapolis-area lots from Westport Homes.
Residential Real Estate
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Whitsett’s Lockerbie project will be market rate
Whitsett was counting on selling state-issued affordable housing tax credits to finance the $27 million project, but it wasn’t among the projects awarded credits.
16 Park developer to rebuild after ‘heartbreaking’ fire
The Friday blaze engulfed a four-story, 28-unit apartment building due to open this fall as part of the $34 million 16 Park project. The Indianapolis Housing Agency says construction will resume as soon as possible.
Cause, origin of apartment building fire undetermined
The fire destroyed part of 16 Park, a $34 million affordable housing development that's intended to help spur a revival of the 16th Street corridor.
Illinois Place apartments planned for former Winona site
The $6.5 million project, led by the Children’s Museum of Indianapolis, will include 50 apartment units, 22,000 square feet of commercial space and a 2-acre park. Construction could start by the end of the year.
Central Indiana housing market enjoys strong May
In May, pending sales of existing homes in the Indianapolis area increased 7 percent from the same month last year while building permits for new construction rose 20 percent.
Area sees May surge in residential building permits
New-home construction in the Indianapolis area rebounded last month from a poor April to post a big year-over-year increase.
Bank seeks to foreclose on local apartment complex
The owners of Arbor Green Apartments on the city’s northeast side owe nearly $15.9 million on a 2008 loan, according to court documents.
Buckingham reviving Gramercy project with smaller plans
Buckingham Cos. has revived plans to redevelop the massive Mohawk Hills apartment complex in Carmel, but the latest version of its Gramercy project takes a huge step back from the original dense, urban-revival-style plan the developer proposed six years ago.
Sales of existing homes up nationally in April
Modest increases in home sales are the latest sign that the market could be starting to turn around nearly five years after the housing bubble burst. Still, housing construction remains at roughly half the pace that economists consider a healthy market.
Retail lineup taking shape for CityWay project
CityWay has landed a fine dining restaurant, a mixology bar, a Qdoba and a frozen yogurt shop as developer Buckingham Cos. turns its attention to the retail portion of the $155 million mixed-use project.
Massive Anson project showing residential, retail progress
Duke Realty Corp. has retrenched at its massive Anson development in Whitestown—focusing on the most promising sections, rearranging some of its site plans, and letting land-purchase contracts expire on about 300 acres where development prospects are likely several years away.
Central Indiana home-sale agreements up in April
Purchase agreements of existing homes in the nine-county area tracked by F.C. Tucker Co. hit 2,252 last month, a 3.3-percent increase over April 2011. Year-to-date home sales were up 12 percent.
Metro-area building activity dips in April
Permits filed last month in the nine-county area totaled 352, a 2-percent year-over-year decrease. But activity through the first four months remains stronger than it was during the same time last year.
Local real estate developer files for bankruptcy
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
Ball State planning 100-room campus hotel
Ball State University plans to build a $25 million hotel in a building that will also have student-housing space, conference rooms and two restaurants.
Pulte snaps up, repositions stalled Avon housing development
Pulte is tossing out the prior builder's playbook, which called for duplexes aimed at buyers 55 and older. Pulte rezoned the land to allow for single-family homes on larger lots. The resulting 123 home sites will accommodate ranch-style homes starting in the low $100,000 price range.
Milhaus buys 55 acres on Keystone to build 300 apartments
One of the most conspicuous local remnants of the condo crash—an unfinished $150 million South Carolina-themed community near Keystone at the Crossing—could finally be completed, as apartments.
City gives OK for $60M apartment building on canal
Investment Property Advisors agreed to reduce the size of the apartment building from 26 stories to 10 stories and from 485 units to 319 units to help gain support from the city.
Lakes of Carmel apartment complex sold
The 324-unit Lakes of Carmel apartment complex has been sold, a real estate broker involved in the sale announced Friday. Terms of the sale were not announced, but the property was previously sold in 2006 for $21.8 million.