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.
Residential Real Estate
Articles
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.
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.