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.
Residential Real Estate
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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.
Apartment project planned for south end of Monon
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
Area home-sale deals show another monthly increase
In the nine-county metropolitan area, sale agreements for existing homes climbed nearly 12 percent, to 1,541, in October, an increase of 163 from the same month last year.
Default notices, home seizures climb in Indiana, nation
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
Area residential building permits up in October
Double-digit increases in permit filings the past three months have residential construction activity in the Indianapolis metropolitan area in position to surpass last year’s pace.
Court case might roil not-for-profit tax rules
A Bartholomew County not-for-profit affordable housing development group is preparing to fight in Indiana Tax Court a denial of its property-tax exemption. The denial has put the organization
$200,000 in debt and its rental homes in danger of tax foreclosure.
City files nuisance charges against property owner
The complaint alleges that David J. Williams’ properties have been the subject of more than 400 violations and have generated more than 30 police reports for criminal activity.
Buyers edging back into Indianapolis commercial real estate
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
New apartments in 2012 on track for a 25-year high
A survey of developers suggests up to 3,438 new units could hit the rental market next year, which would be the highest total since 1987, when central Indiana gained about 4,500 units.
Developer plans $54 million in new apartment projects
A local developer plans to invest more than $54 million to build apartment communities adjacent to the Rivers Edge shopping center in Indianapolis and Metropolis in Plainfield.
Bush Stadium gets last hurrah
City leaders and economic development officials planned to pay tribute Oct. 28 to Bush Stadium’s historical significance before work begins to convert the venue into loft apartments.
International Center CEO downsizes in style
A widow and empty-nester, Diane Thomas makes space count in her ‘little’ 1920s-era home in the Meridian Kessler neighborhood.
East 10th Street retail gets a boost
Two veterans of vintage retail are teaming up to open a store on a near-east-side corridor that’s getting renewed attention from the 2012 Super Bowl Legacy Project.
Indianapolis neighborhood striving for LEED status
Designation to east-side project would go beyond building certification.
Indy’s housing market posts strong September
In the nine-county metropolitan area, the number of home-construction permits filed last month increased 22 percent from the same month in 2010, while home-sale agreements rose 5.1 percent.
Housing will be initial focus of redevelopment at Winona site
The city, along with the nearby Children's Museum of Indianapolis, is spearheading redevelopment of the abandoned property where demolition began Monday. Bids to build mixed-income housing will be sought in the coming months.
Apartments, retail planned for Virginia Ave. corridor
Call it Extreme Makeover: Holy Rosary. Just about every building and corner along a four-block stretch of Virginia Avenue in this historic neighborhood southeast of downtown is under construction or will be soon.
Developer proposes $22M project for Keystone Towers site
The Whitsett Group LLC’s plans call for a $22 million project that would include nearly 140 apartments and a retail component on the property where Keystone Towers stood. The company submitted the lone bid to the city to redevelop the site.