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Cummins boom drives up demand for apartments

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A hiring boom at Columbus-based diesel engine maker Cummins Inc. and the economic recovery are leaving many people in search of apartments out in the cold in Columbus.

Demand for apartments is so high that many complexes are nearly full, and many have waiting lists, The Republic reported. That's forcing some apartment hunters to wait up to three months before getting a place.

Columbus added jobs at a faster rate last year than any other metropolitan area in the United States. The boom is being driven by Cummins, the Bartholomew County's largest employer. The company announced last summer that it would hire an additional 600 professional employees.

Many of those arriving are young adults looking for apartments with amenities such as swimming pools and exercise rooms, said Brad Grayson, president of the Bartholomew County Landlord Association. The group represents 400 landlords.

Even those who prefer renting a house are having difficulty finding rental homes in the $1,000 to $1,500 range, Grayson said.

Landlords welcome the bustling market after the lean years of the recession, in which many struggled to keep properties occupied. The higher demand also has driven up rental rates in the last 12 to 18 months, said Belinda Graber, owner and chief appraiser of Columbus-based Appraisers Inc.

There is some relief in sight for apartment hunters. Two new complexes, with a total of 186 units, are under construction.

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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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