Homebuilders

Builder's bookkeeper gets 18-month sentence for theft

January 25, 2012
 IBJ Staff and Associated Press
Kim Hutchison, 52, the former treasurer of Greenwood-based J. Greg Allen Builders and Princeton Homes, has been sentenced to 18 months in prison for allegedly stealing more than $446,000 from the now-closed companies.
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Metro home-building activity sinks again in 2011

January 11, 2012
Scott Olson
New-home construction in the Indianapolis area slid in 2011, marking six straight year-over-year declines in residential building. The 3-percent decrease in building permits, however, was the smallest decrease since 2006.
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Metro home-building activity down in November

December 16, 2011
In the nine-county metropolitan area, the number of home-construction permits filed last month dropped to 225, a 13-percent decrease from the same month in 2010.
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Builder, developer partner in turnaround firm

November 29, 2011
Tom Harton
Providence Homes was started earlier this year by Mitch Davis, 42, a former vice president of the now-defunct CP Morgan Homes; and Brian Mann, 44, managing partner of Mann Properties.
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Area residential building permits up in October

November 10, 2011
Scott Olson
Double-digit increases in permit filings the past three months have residential construction activity in the Indianapolis metropolitan area in position to surpass last year's pace.
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Buyers edging back into Indianapolis commercial real estateRestricted Content

November 5, 2011
Cory Schouten
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
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Homebuilder Estridge files for bankruptcy

September 29, 2011
Anthony Schoettle
Paul Estridge Jr. owes a list of creditors including banks, suppliers and vendors more than $50 million, but has assets of less than $5 million, he said.
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Former real estate exec to plead guilty to wire fraud

September 6, 2011
Scott Olson
Kim Hutchinson, former treasurer of J. Greg Allen Builders and Princeton Homes, agreed to plead guilty to stealing $446,419. Her cooperation likely will result in a lighter sentence of 30 to 40 months.
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Home construction permits dip in July

August 11, 2011
The number of permits filed last month in the Indianapolis metropolitan area declined to 305, a decrease of 4 percent from the same month in 2010, according to the Builders Association of Greater Indianapolis.
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Developer tries 'pocket' neighborhood in CarmelRestricted Content

July 16, 2011
Cory Schouten
A veteran local homebuilder is tearing up the suburban residential playbook with a new project in Carmel that offers tightly spaced bungalows clustered around grassy courtyards.
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Lender's suit says homebuilder owes $12.8M on loans

July 5, 2011
Scott Olson
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis' south side.
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Chambers quietly built Buckingham into real estate colossusRestricted Content

June 25, 2011
Cory Schouten
The North of South mixed-use project in downtown Indianapolis is just the latest development for Brad Chambers, who started out in the landscaping business.
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Home builders close after alleged embezzlement scheme

June 23, 2011
Cory Schouten
Two prominent area home builders have ceased operations after owner J. Greg Allen filed suit against two longtime executives, alleging they've been stealing from the companies for years.
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Work to begin on rare Washington Township home sites

May 31, 2011
Tom Harton
The transformation of a wooded ravine immediately north of Park Tudor School into an 11-lot gated community will bring to market a rare commodity: a cluster of new-home sites in densely populated Washington Township.
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Area home-building activity shows April uptick

May 16, 2011
In the nine-county area, the number of building permits filed in April climbed to 361, an increase of 10 percent from the same month in 2010.
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Local developer seeks bankruptcy protection

April 29, 2011
Scott Olson
Platinum Properties LLC, an Indianapolis upscale residential real estate developer, sought Chapter 11 protection on Monday, listing several huge debts to prominent local businesses and business people.
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Estridge becomes division of national home builder

April 26, 2011
Scott Olson
The Estridge Group, which had operated in the Indianapolis area since 1967, has become part of Houston-based David Weekley Homes. Estridge had struggled in recent months to stay afloat during the severe housing downturn.
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Local home-building activity still slumping

April 19, 2011
 IBJ Staff and Associated Press
Home-building permits filed in the Indianapolis area sank by more than 20 percent in March compared with the same month last year. Still, signs show home construction both locally and nationally may be picking up.
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Portrait Homes parent files for bankruptcy

April 11, 2011
Kathleen McLaughlin
Chicago-based Pasquinelli Homebuilding is seeking bankruptcy liquidation for all its business entities, including Portrait Homes Indiana, which built hundreds of homes in the Indianapolis area.
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Residential developer declares bankruptcy

April 6, 2011
Scott Olson
John Swinehart, a former executive of Bruce Gunstra Builders Inc. who was involved in the Monon on Main project in Carmel, is seeking Chapter 7 bankruptcy protection. He lists liabilities of $8.3 million.
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Condo sales lag in hot downtown apartment market

April 5, 2011
Cory Schouten
New apartment projects carrying premium rents are popping up all over downtown, but the strong demand for urban living isn't providing much of a boost for the condo market.
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Home builder Estridge promises to finish homes, fight onRestricted Content

March 19, 2011
Anthony Schoettle
Paul Estridge Jr. says he’s in talks with three investors who are interested in keeping his company in business.
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Estridge: We need cash to survive

March 17, 2011
Anthony Schoettle
Paul Estridge Jr. says potential investors have inquired about helping his homebuilding company. Without millions in capital and a line of credit, the business could close within a week.
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Estridge again seeking investors to avoid closing

March 15, 2011
Scott Olson
The Carmel-based homebuilder said Tuesday that it will shut down if outside investors or a line of credit aren't obtained soon. The company previously received a cash infusion last June from a group of subcontractors.
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Home construction weak both locally, nationally

February 16, 2011
 IBJ Staff and Associated Press
Home building in the Indianapolis area fell by more than 30 percent n January over the same month of 2010.
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  1. Poor little LadyJ! Typical Democommie. In case it got past you, the dems have totally screwed this country in the past 3+ years. We have a democommie in the White House who apparently never read the Constitution, while claiming to be a constitutional scholar. We had a democommie-controlled Congress (opposite of PROGRESS?)passing bills that "we'll have to pass before we know what's in it". This impostor president has violated the U. S. Constitution too many times to count. The Attorney General is a race-baiting gunrunner that refuses to stop illegal immigration. And, the head of NASA, a once-proud agency that put several men on the moon, is now our liason to the murderous Muslims. Great job, democommies! Sometimes I wish they really would try to take our guns.

  2. Pat Bauer try t do right about the state but the Republican leader and all of them did not think of us. Only the money they will get from their rich corporation. Of Course the Democrats had union, so I won't vote for Bosma or whatever his name is.

  3. Well you are talking about Republican, did all of the Damage in this state. Sure the Democrats did some but most is the Republican. The Republican set us back not going forward. Hurry passed bills won't listen to any amendment our way only. The Republicans drew up these district so they could win again. Which is a crying shame. I will not vote for any Republican and I got the list who voted for the RTW Bill and who didn't. Tired of the Republicans

  4. Actually, it was Greenspan who encouraged the elderly to refinance their homes, using their equity to boost the economy after 9/11. In addition, it was George Bush and Barney Frank who jointly suggested that everyone should hold a piece of the rock. It was the Bush Administration, namely Treasury Secretary Paulson who deregulated Wall Street and Lenders such as Countrywide, Washington Mutual, Wachovia, Bank of America, and Wells Fargo. When the TARP Bailout Proposal went to Capitol Hill in October 2008, Treasury Secretary Paulson asked for, and received, full immunity from future prosecution, dating back to his time as CEO of Goldman Sachs, the co-recipient of the initial $350 Billion Dollar Tarp Bailout Payment for Wall Street, back in October 2008. It was the US Treasury and the Federal Reserve, both controlled by the Bush Administration, that created sub-prime mortgages, starting in 2004. Many members of the House and Senate, on both sides of the aisle, benefited from home mortgage refinancing. Banks, appraisers, and realtors pushed people into home mortgages they had no business accepting, based on claims that the housing market would only get better. Average Americans did not create Credit Default Swaps, I think those creations happened on Wall Street. Spend some time at the library, you will be shocked by what your research brings forth.

  5. They need to pay their fines and the judge blocking the fines needs to be investigated. I'm sick and tired of democrats and their spending. We went broke with every dem as gov. too. Pat Bauer needs to go!

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