Apartments

Apartment sellers testing market again

May 11, 2010
Tom Harton
Several apartment properties are back on the market as owners try to appeal to private investors looking for deals before higher interest rates and inflation dampen their enthusiasm.
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Mass Ave project adds garage, wins approvalRestricted Content

May 8, 2010
Tom Harton
Work could begin this fall on $10 million Trail Side complex.
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Mass Ave project on verge of approval

May 4, 2010
Tom Harton
The addition of an underground parking garage is likely to get Trail Side off the drawing board and under construction.
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Work begins on Penn Arts apartment, retail project

May 1, 2010
 IBJ Staff
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two equity partners for the project because banks were unwilling to lend.
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Local firm's Carolina development slides into bankruptcy

April 22, 2010
Scott Olson
Owner of Flaherty & Collins' apartment complex in Raleigh seeks to reorganize debts related to a $24.8 million loan. It's the second Flaherty & Collins project in North Carolina to fall into bankruptcy in six months.
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Lugar Tower project delayed by lack of tax credits

March 26, 2010
Scott Olson
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
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Receivership business picks up for property managers

March 23, 2010
Tom Harton
Companies hired by the courts to manage properties in financial distress are benefiting as the number of such properties grows.
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Former Summit House apartment tower sold

March 16, 2010
Tom Harton
The landmark apartment building at 38th and Meridian streets formerly known as Summit House has been purchased by a pair of Chicago investors who plan to invest  “a significant amount of capital” into the 20-story tower.
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Indianapolis Housing Agency pulls off big tax credit deal

March 13, 2010
Tom Harton
City agency plans renovations, expansions at eight apartment properties.
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Huge tax-credit deal will fund rehab of 538 apartment units

March 9, 2010
Tom Harton
The largest tax credit deal in state history will fund the rehabilitation of 538 apartments in four complexes owned by the Indianapolis Housing Agency.
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Mass Ave project works toward April approval

March 2, 2010
Tom Harton
Trail Side on Mass Ave would include 69 one-bedroom apartments and about 23,000 square feet of ground-level retail space.
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Disagreement about parking delays project on Meridian Street

February 27, 2010
 IBJ Staff
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.
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Apartment developer plans 217 units in Lawrence

February 19, 2010
Cory Schouten
J.C. Hart Co. is designing plans for a $17 million upscale apartment community as part of the master-planned Lawrence Village at the Fort.
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Cincinnati investors buy apartment complex anchored by mansion

February 2, 2010
Tom Harton
Sundance Real Estate Holdings and other investors closed on the 37-unit Mansion Row apartments at 2550 Cold Spring Road on Dec. 30.
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Apartment developer investing $100M in Hamilton projects

January 30, 2010
Cory Schouten
Carmel-based developer J.C. Hart Co. is making a $100 million bet that luxury apartment communities will continue to thrive in Hamilton County, particularly along 146th Street.
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Affordable-housing group goes on apartment-buying bingeRestricted Content

January 23, 2010
Cory Schouten
Partners in Housing Development seized on a weak real estate market to acquire three urban apartment communities in the last 18 months.
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Riley Towers expansion in works

January 12, 2010
Tom Harton
The owner of the Riley Towers apartment complex is preparing to develop a 54-unit extension of the landmark downtown property.
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Buckingham tapped to develop mixed-use project near IUPUI

January 2, 2010
 IBJ Staff
Former YMCA branch at 860 W. 10th St. would be razed to make way for retail and housing.
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Trustee chooses $20.5 million Buckingham plan for old YMCA

December 23, 2009
Cory Schouten
The Center Township Advisory Board has picked Buckingham Cos. to redevelop a 2-acre property it owns at 860 W. 10th St. near the IUPUI campus.
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AIMCO rethinks sale of four apartment complexes

December 22, 2009
Tom Harton
A Denver-based company that just sold its largest Indianapolis apartment complex has taken its four remaining local properties off the market.
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Homeownership losing cachet due to housing bust, job losses

November 21, 2009
Cory Schouten
Multifamily housing may not benefit anytime soon from falling rates of homeownership.
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Van Rooy scoops up troubled complex

November 10, 2009
Tom Harton
Van Rooy Properties plans to spend $5.5 million renovating a 277-unit west side apartment complex that it acquired a month ago in an unusual deal.
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Fewer home-building permits signal weakness ahead

October 20, 2009
Associated Press
Applications for home-building permits, a gauge of future construction, fell in September by the largest amount in five months.
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Grocery, housing projects could rejuvenate stretch of 16th Street

October 10, 2009
Cory Schouten
A troubled low-income housing project has a new owner with plans to redevelop the complex to better connect with the Herron Morton Place neighborhood. Next door, Kroger has revived efforts to acquire land and plan a new supermarket to replace a cramped, old-format location.
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Historic Landmarks returning to headquarters

September 24, 2009
 IBJ Staff
The Historic Landmarks Foundation of Indiana is set to return to its headquarters in downtown Indianapolis tomorrow, six months after a fire at a neighboring apartment project displaced the not-for-profit.
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