Housing Starts

Falling home inventory suggests market is firming upRestricted Content

January 21, 2012
Cory Schouten
About 12,000 homes were listed for sale at the end of December in the nine-county central Indiana market, a roughly 18-percent drop from a year earlier.
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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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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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Indy's housing market posts strong September

October 14, 2011
Scott Olson
In the nine-county metropolitan area, the number of home-construction permits filed last month increased 22 percent from the same month in 2010, while home-sale agreements rose 5.1 percent.
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Area home-construction permits rise in August

September 15, 2011
Home-construction permits in the Indianapolis metropolitan area climbed 23 percent in August thanks to a surge of activity in suburban counties.
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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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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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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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Local home construction plummets again

March 16, 2011
 IBJ Staff and Associated Press
Home-building permits filed in the Indianapolis area fell by more than 40 percent in February compared with the same month last year. Nationally, builders broke ground last month on the fewest homes in nearly two years.
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Builders offer new twist on move-up incentive

March 2, 2011
Kathleen McLaughlin
Instead of offering to help would-be buyers of new houses sell their old homes, Marketplace is offering to become a rental property manager for as long as six years.
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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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Home building suffers another bad year, locally and nationally

January 19, 2011
 IBJ Staff and Associated Press
Building permits filed for new homes in the nine-county Indianapolis area rose just 2.6 percent in 2010, to 3,720. That’s just 95 more homes than in 2009—the worst year for local home construction in more than a quarter century.
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U.S. home construction up after two months of declines

December 16, 2010
 IBJ Staff and Associated Press
Locally, building permits were up 17 percent in the nine-county area, from 222 in November 2009 to 259 in November 2010.
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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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Local building permits down again in August

September 22, 2010
Scott Olson
The number of building permits filed in the nine-county metropolitan area dropped by 18 percent in August from the same time a year ago, falling from 354 to 290. The drop marks the third consecutive month permits have fallen.
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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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Delta Faucet parent lowers forecast for housing starts

July 31, 2010
 IBJ Staff
The Carmel-based company backed off earlier predictions after a mid-year slow-down that could affect its sales.
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Delta Faucet adaps to new normal in homebuildingRestricted Content

July 3, 2010
Kathleen McLaughlin
The company's total employment is 1,345, down 43 percent from 2007.
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Subcontractors come to Estridge's aid with $10M investment

June 26, 2010
Scott Olson
Estridge Cos.' subcontractors have invested $10 million into the firm led by COO Matt Cohoat and CEO Paul Estridge Jr.—an infusion that paves the way for them to proceed with a massive development in Westfield.
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Residential building activity levels off after surge

June 18, 2010
Scott Olson
The number of building permits filed in the nine-county metropolitan area has been flat the past two months following a flurry of activity leading up to the expiration of federal home-buying tax credits.
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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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Delta Faucet cutting 40 more jobs at Greensburg plant

March 10, 2010
The Carmel-based company said its decision to consolidate machining activities at a plant in Tennessee is driven by weak retail sales and a sluggish housing market.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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