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Too few of the city's revitalization projects are connected by attractive sidewalks, streets, gardens and plazas.
Residential Real Estate
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Work begins on Penn Arts apartment, retail project
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two
equity partners for the project because banks were unwilling to lend.
Central Indiana home sales up slightly in first quarter
Homes sold in the first three months of the year totaled 4,634, a 1-percent increase from the 4,593 in the
same period last year. However, total sales volume jumped 12 percent, to $637 million.
Homeowners need to re-file for Homestead tax break
The goal of the new law is to reduce tax fraud from Hoosiers who file for the Homestead deduction on more than one residence.
Franklin residents still struggle with solution for flooded land
Crews will begin in late April demolishing the first of 74 homes south of downtown Franklin damaged by massive flooding in
June 2008. Officials still haven’t decided how to reuse the land, and residents are torn.
New home sales likely rose in March
The Commerce Department's report on new home sales Friday is forecast to show a 7.1 percent increase to a seasonally adjusted
annual rate of 330,000, according to economists polled by Thomson Reuters. That's up from an all-time low of 308,000 in
February.
Local firm’s Carolina development slides into bankruptcy
Owner of Flaherty & Collins’ apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It’s
the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
Higher-priced home sales on the rise
A total of 242 homes in the nine-county area sold for at least $250,000 last month, an increase of 23.5 percent from the same
time last year.
Lender suffers own painful loss after homeowner’s death
A home that fetched $1.6 million in 2005 fetched a mere $370,000 when the lender sold it last year.
Area home sales, prices continue to improve
Sales agreements in the nine-county area rose last month by 10.6 percent, compared with the same month last year, while prices
jumped 12.1 percent.
Simon mansion in Bel Air on market for $50M
The 20,000-square-foot estate is in the ritzy neighborhood’s most prestigious area,
and boasts eight bedrooms and 16 bathrooms.
City’s No. 2 real estate agency changes brands
Century 21 Realty Group is now Prudential Indiana Realty Group, affecting 418 agents in 12 offices around Indiana.
First Time Homebuyer tax credit expires next month
The Treasury Department says potential Indiana homeowners have only until May 1 to take advantage of the First Time Homebuyer
tax credit before it expires.
Engeledow Group acquires estate landscaper
Engledow Group, one of the Indianapolis area's largest landscape companies, has acquired Litchfield Landscape Co. to bolster
its estates division.
Tax-break deadline spurs spec homes in Parade
This spring’s Parade of Home is being held about two weeks earlier than normal to help builders lure homebuyers who want to
take advantage of federal incentives intended to give the residential real estate market a boost. Builders also are taking
chances on more spec homes.
Lugar Tower project delayed by lack of tax credits
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the
necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
Insurer lending $7M for east-side Super Bowl project
The aim is to spur redevelopment on the city’s blighted near-east side before the 2012 Super Bowl is played in Indianapolis.
Home builder officially declares bankruptcy
Indianapolis home builder Hansen & Horn Group Inc. has officially declared bankruptcy after owners agreed to liquidate the
company earlier this month.
Former Summit House apartment tower sold
The landmark apartment building at 38th and Meridian streets formerly known as Summit House has been purchased by a pair of Chicago investors who plan to invest “a significant amount of capital” into the 20-story tower.
Local luxury home sales jumped in February
Luxury home sales in central Indiana surged in February despite an overall decline in home sales, Re/Max of Indiana reported
Monday morning.