Apartments

$7.5M Fletcher Arts project gets back on track

December 11, 2010
 IBJ Staff
Developer and architect Craig Von Deylen is finalizing plans for a mixed-use project just west of the intersection of Virginia Avenue and East McCarty Street.
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Cosmopolitan apartment fire prompts lawsuit

December 8, 2010
Scott Olson
The insurer for Indiana Landmarks is suing developer Flaherty & Collins, claiming negligence in a blaze that partially destroyed the apartment project and damaged the not-for-profit's adjacent headquarters.
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Geist apartment complex sale ends drought of Class A transactions

November 23, 2010
Tom Harton
Grande Reserve at Geist fetched $13.3 million, just shy of the asking price.
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Di Rimini violations reveal holes in process that relies on trust

October 30, 2010
Cory Schouten
Brazen violations of city design guidelines and state building codes by the developer of the Di Rimini apartments cast a spotlight on what is essentially an honor system of regulation for developers once they win approval for their projects.
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Downtown apartment developers take divergent paths to financing

October 30, 2010
Cory Schouten
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
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Owner of city apartment complex files Chapter 11

October 26, 2010
Kathleen McLaughlin
The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.
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Greenfield apartment market heats up with sales, development activity

October 26, 2010
Tom Harton
The Hancock County community is drawing interest because of recent hiring in the area and a strong population of seniors.
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Indianapolis-area experts see bright spots amid ongoing real estate weaknessRestricted Content

October 23, 2010
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
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City not impressed with fixes proposed by Di Rimini developer

October 9, 2010
 IBJ Staff
Developer Jeff Sparks met with city planners Oct. 1 to propose fixes to the apartment project at Capitol Avenue and St. Clair Street.
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Downtown praised for 'livability' but needs more residentsRestricted Content

October 9, 2010
J.K. Wall
The past decade has seen roughly 5,000 more residents living downtown than in 2000, wooed by new condos and apartments within walking distance of growing retail and cultural attractions. There are now 25,000 downtown residents—but still a long way from the 40,000 city leaders want by the end of the next decade.
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City halts apartment developer

October 2, 2010
Cory Schouten
The Near North Development Corp. asked the city in a Sept. 2 e-mail to compare the renderings for the Di Rimini apartment project at 733 N. Capital Ave. with what was actually taking shape. A week later, the Department of Code Enforcement issued a stop-work order for the project.
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Tax caps spread relief aroundRestricted Content

September 25, 2010
Francesca Jarosz
Property tax caps—promoted as a way to relieve homeowners from skyrocketing property tax bills—have provided much more relief to a different group of taxpayers. Owners of rental properties and second homes got the lion’s share of assistance from the caps.
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Developer seeks rezoning for Canal apartments

September 23, 2010
Scott Olson
The city's Division of Planning was set to hear a request Thursday afternoon by Valparaiso-based Investment Property Advisors LLC to rezone property near the Central Canal for a 150-unit apartment complex.
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Home construction jumps nationally

September 21, 2010
Associated Press
Housing starts are up 25 percent from their bottom in April 2009. But they remain 74 percent below their peak in January 2006.
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Fishers becomes draw for seniors projects

September 14, 2010
Tom Harton
One skilled-care facility is about to open and another will break ground this month.
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Van Rooy buys Greenwood apartment complex

September 3, 2010
Indianapolis-based company purchases 438-unit Westminster Apartments from court-appointed receiver. The listing price of the property was $8.2 million.
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Groundbreaking nears for $4.5M apartment project

August 30, 2010
Cory Schouten
The 62-unit project called National Apartments on the Monon is the latest phase of the Martindale on the Monon redevelopment project, which began in 2005. The developer is Indianapolis-based Development Concepts Inc.
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Apartment developer S.C. Bodner sued over accessibilityRestricted Content

August 28, 2010
Cory Schouten
The National Fair Housing Alliance and two of its member groups allege that Bodner communities in eight states including Indiana violate accessibility requirements of the Fair Housing Act.
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Reverie Estate buys another downtown Indianapolis apartment building

August 28, 2010
 IBJ Staff
The prolific developer of urban apartments plans to turn the building into an affordable artists’ community.
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Lawsuit claims builder broke handicapped rights

August 10, 2010
Associated Press
The suit against SC Bodner Co. says 16 Bodner properties in eight states violate the Fair Housing Act.
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Deadline approaches for Richelieu offers

July 20, 2010
Tom Harton
John Jacobs and a Cleveland-based partner have put a Friday deadline on offers for the 62-unit Richelieu apartments, a two-building property at the intersection of North and East streets and Mass Ave.
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Van Rooy sweeps national maintenance 'Olympics'

July 10, 2010
 IBJ Staff
Three of the local firm's employees beat 3,000 contestants nationwide at a competition in New Orleans.
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Westfield's proposed Symphony development under review

July 8, 2010
 IBJ Staff and Associated Press
The Westfield planning commission has asked city employees to further review the 1,400-acre mixed-use project that could include thousands of homes, shops, a YMCA and a baseball stadium.
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PNC foreclosing on Janus Lofts building

June 22, 2010
Cory Schouten
Pittsburgh-based PNC Bank has filed to foreclose on the historic five-story Janus Lofts building at 240 S. Meridian St.
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Westfield residents to hear plans for $1B development

June 21, 2010
Scott Olson
The Estridge Cos., a Carmel-based home builder, will present details of the massive project—mixing condos, apartments and retail with a $15 million stadium—at a public hearing Monday evening.
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