A Cincinnati-area home builder is expanding to Indianapolis in hopes of selling as many as 200 homes this year.
Fischer Homes Inc., a privately held company based in the Cincinnati suburb Crestview Hills, Ky., is building in 17 communities around Indianapolis and plans to open an 8,000-square-foot design center at its local headquarters southeast of interstates 465 and 69.
“We think Indianapolis is a great market with tremendous potential,” Fischer President Bob Hawksley said in a statement.
The fast-growing company entered the Columbus, Ohio, market in 2008 after buying subdivisions from retreating builders. Fischer is using the same strategy to establish a foothold in Carmel, Westfield, Zionsville and Avon.
Several top players in the central Indiana residential market have folded in the last few years, including Davis Homes and CP Morgan in 2009. National player KB Home exited the market in 2007.
The local Fischer unit will be led by Tim McMahon,
who previously ran the Indianapolis division of Centex Homes.
Fischer has built about 15,000 houses in Greater Cincinnati and Northern Kentucky since 1980. Its houses in the Indianapolis area will range in price from about $140,000 up to the $650,000 range.
Meeting its goal of selling 200 houses would place Fischer among the market's top new-home sellers. Only three builders, Beazer Homes, Ryland Homes and Arbor Homes LLC, built more than 200 houses locally in 2008.