Apartments

Van Rooy converting more units to market rate

August 5, 2014
Scott Olson
The local apartment owner and manager will spend $2.5 million to upgrade Ransom Place near the IUPUI campus from Section 8 housing. It's the second time the company has undertaken such a project in the neighborhood the past few years.
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Developer seeks $11.5M subsidy for Carmel project

July 21, 2014
Andrea Muirragui Davis
Edward Rose Development Group is asking the city to issue tax-increment financing bonds to help pay for a parking garage and infrastructure in an $80 million project it's planning.
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Seventy-lot subdivision slated for Fort Harrison property

July 15, 2014
Scott Olson
The proposed Residences of Lawrence at Fort Ben subdivision would be the first single-family project on the former army base since it closed in 1995.
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Northern suburbs see blitz of apartment construction

July 12, 2014
Andrea Muirragui Davis
Growing demand for high-end, low-maintenance living is fueling an apartment-building boom in Indianapolis’ northern suburbs—and raising concerns among some leaders about the risks of adding too much too fast.
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Multifamily projects abound in Chatham Arch, Lockerbie

July 8, 2014
Scott Olson
The four projects, one of them condominiums, would add nearly 280 units within about a four-block stretch from East Michigan Street north to Massachusetts Avenue.
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YMCA set to break ground on $22M CityWay project

June 10, 2014
Scott Olson
The not-for-profit is expected to begin construction on the three-story, 87,000-square-foot downtown facility July 16, with a completion date of December 2015.
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Herman & Kittle plans $28M downtown apartment project

June 3, 2014
Scott Olson
The Indianapolis developer plans to build 211 units at the southeast corner of College and Maryland Street. Meanwhile, the owner of a building across the street that last housed a sporting goods store is accepting bids on the property.
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Luxury Clearwater apartment complex on market

May 13, 2014
Scott Olson
82 Flats, which opened last year and is 95-percent occupied, could fetch $35 million for its developer, Cityscape Residential, formerly known as Hearthview Residential.
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Growing demand for apartments pushing up rents

April 3, 2014
Associated Press
With demand for apartments surging, rents are projected to rise for a fifth straight year. Even a pickup in apartment construction is unlikely to provide much relief anytime soon.
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City to consider $7.7M bond issue to assist Broad Ripple project

March 18, 2014
Scott Olson
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
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Red Cross rethinking downtown HQ design, delaying land swap

March 10, 2014
Scott Olson
Re-examination of the scope of the not-for-profit group's project has stalled progress on a three-way property exchange that would clear the way for a massive apartment project on Massachusetts Avenue.
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Committee urges hiring commitment for $81M MSA tower project

March 3, 2014
Scott Olson
A City-County Council committee recommended approval for the 28-story building but only if the developer pledges that 30 percent of the workers it hires to build the tower live in Marion County.
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Kite floats two-tower Pan Am Plaza projectRestricted Content

March 1, 2014
Scott Olson
The latest plan to redevelop Pan Am Plaza calls for two hotels, residential units and restaurants spread across two towers as tall as 20 stories each, sources familiar with the details told IBJ.
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Indy officials work to strengthen rental-property inspection bill

February 19, 2014
Kathleen McLaughlin
A proposal under consideration by the Legislature would curb rental-property inspection programs, but local officials worked with its author to let cities set up landlord registries.
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Developer plans Lockerbie residential project

February 4, 2014
Scott Olson
Chase Development plans to build six, four-story townhomes along with six more traditional houses on a 1.25-acre parcel between Michigan and North streets.
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Design of new downtown fire station to get first review

January 21, 2014
Scott Olson
Construction of the new fire station on East 10th Street would help clear the way for a $43 million apartment and retail project on Massachusetts Avenue where the Indianapolis Fire Department's headquarters now stands.
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21-acre Greenwood tract marketed for apartment development

January 14, 2014
Scott Olson
Developer J. Greg Allen had planned to build condominiums on the site before the housing market crashed. He relinquished the property to his lender, BMO Harris.
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Developer plans $80M project in Carmel

January 4, 2014
Andrea Muirragui Davis
Apartment specialist Edward Rose Properties Inc. is proposing an $80 million mixed-use project on mostly undeveloped land in Carmel’s Old Meridian District.
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Apartment craze shows no signs of slowing

December 28, 2013
Scott Olson
Apartment developers continued their blitz on the downtown market with several projects under construction or in the planning stages.
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City finally lands development for Market Square

December 28, 2013
Scott Olson
Flaherty & Collins Properties plans to build an $81 million, 28-story skyscraper in what would be the tallest new downtown development since the 34-story JW Marriott hotel opened in 2011.
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Bloomington defends tough smoke-detector ordinance

December 26, 2013
Associated Press
Property owners sued in July to block the law, which requires landlords to install hard-wired smoke detectors by 2019.
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Commercial blitz may follow Westfield's housing boom

December 14, 2013
Andrea Muirragui Davis
Poised for a development boom in those heady days before the real estate market collapsed, Westfield appears back on track for growth. Residential activity never stopped, but builders are picking up the pace in response to increasing demand. If history holds true, a commercial construction blitz will come next.
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Whitsett pivots to market-rate apartment projects

December 7, 2013
Scott Olson
Next up is a renovation of the vacant Consolidated Building and a redevelopment of the Indianapolis Star headquarters property, both on North Pennsylvania Street. The projects will add 600 market-rate apartments to downtown.
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Indy firm proposes redevelopment of ISU towers

December 5, 2013
Associated Press
Indiana State University is putting on hold its plans to demolish two 15-story former residence halls on the Terre Haute campus after an Indianapolis-based developer proposed taking them over.
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Lauth acquires new apartment property in Greenfield

December 3, 2013
Scott Olson
The local developer's purchase of the complex is part of a shift within the company to complement its traditional development business with acquired properties.
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