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Area sees June dip in residential building permits

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Residential construction activity in central Indiana is ahead of last year’s pace through the first six months of the year, but month-to-month volatility continues to show the inconsistency in the new-home market.

Builders in the nine-county area filed 428 single-family construction permits in June, a 1-percent decline from the same month last year, according to the Builders Association of Greater Indianapolis. That followed a strong May, in which permits outpaced the number filed in May 2011 by 20 percent.

Through June this year, building permits in the nine-county area totaled 2,023, an 8-percent increase from the same time last year. But home builders so far this year have yet to string together more than two consecutive months of positive building-permit activity.

Permit filings dropped this year in January and April, but were up strongly in February and March.

In Marion County last month, builders filed 72 permits, or 15 percent fewer than in June 2011.

Activity also fell in Hamilton County, where builders filed 147 permits in June, an 8-percent drop from the same month last year.

Hendricks County saw 66 permits filed last month, a 2-percent increase from June 2011. The most notable improvement was in Johnson County, where builders filed 62 permits, a 32-percent increase.

While home building is up in 2012, activity is far behind the pace set before the recession. Almost twice as many permits were filed in the first six months of 2007 compared with the same period this year.
 

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  1. It is nice and all that the developer grew up here and lives here, but do you think a company that builds and rehabs cottage-style homes has the chops to develop $150 Million of office, retail, and residential? I'm guessing they will quickly be over their skis and begging the city for even more help... This project should occur organically and be developed by those that can handle the size and scope of something like this as several other posters have mentioned.

  2. It amazes me how people with apparently zero knowledge of free markets or capitalism feel the need to read and post on a business journal website. Perhaps the Daily Worker would suit your interests better. It's definitely more sympathetic to your pro government theft views. It's too bad the Star is so awful as I'm sure you would find a much better home there.

  3. In other cities, expensive new construction projects are announced by real estate developers. In Carmel, they are announced by the local mayor. I am so, so glad I don't live in Carmel's taxbase--did you see that Carmel, a small Midwest suburb, has $500 million in debt?? That's unreal! The mayor thinks he's playing with Lego sets and Monopoly money here! Let these projects develop organically without government/taxpayer backing! Also, from a design standpoint, the whole town of Carmel looks comical. Grand, French-style buildings and promenades, sitting next to tire yards. Who do you guys think you are? Just my POV as a recent transplant to Indy.

  4. GeorgeP, you mention "necessities". Where in the announcement did it say anything about basic essentials like groceries? None of the plans and "vision" have basic essentials listed and nothing has been built. Traffic WILL be a nightmare. There is no east/west road capacity. GeorgeP, you also post on www.carmelchatter.com and your posts have repeatedly been proven wrong. You seem to have a fair amount of inside knowledge. Do you work on the third floor of Carmel City Hal?

  5. I don't know about the commuter buses...but it's a huge joke to see these IndyGo buses with just one or two passengers. Absolutely a disgusting waste of TAXPAYER money. Get some cojones and stop funding them. These (all of them) council members work for you. FIRE THEM!

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