Residential Real Estate

Indy housing market stumbles to glum milestone

September 15, 2014
Mason King
Home-sale agreements in August declined 9.6 percent, marking the 12th consecutive month of declining deals for houses in the nine-county Indianapolis area.
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Couple revamps old roadside motel into apartments

September 15, 2014
Associated Press
The Kaiden, a 13-unit hotel just off the National Road between Indianapolis and Greenfield, has been reborn as an apartment building called The Village.
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Unauthorized demolition of historic home sparks lawsuit

September 13, 2014
Cory Schouten
Indiana Landmarks is going to court over the unauthorized demolition of a historic home in Fall Creek Place that likely was built in the 1890s.
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Bank to give homebuyers $15K for down payments

September 5, 2014
Jared Council
Wells Fargo is unveiling a $4.5 million program in Indianapolis that would provide a huge chunk of up-front money for eligible homebuyers.
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Simon estate in Carmel hits market for $25 million

September 2, 2014
Mason King
The 106-acre property includes a 50,000-square-foot mansion and private, 18-hole golf course. Mel Simon and his wife, Bren, had been working on disposing of the home even before the billionaire’s death in September 2009.
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UPDATE: Plan saves Anderson's Wigwam gym from demolition

August 29, 2014
Associated Press
The company that will operate under the name Wigwam LLC has agreed to maintain the gymnasium until at least 2030. It plans to convert part of the property into multifamily housing and to find partners to develop uses for other parts.
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UPDATE: Security gates on tap for governor's mansion

August 27, 2014
Kathleen McLaughlin
Preservation officials for the Meridian corridor have given unanimous approval for wrought-iron gates and brick columns at the entrances to the mansion at 46th and Meridian streets.
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New U.S. homes sales fall unexpectedly to 4-month low

August 25, 2014
Bloomberg News
Sales declined 2.4 percent in July, to a 412,000 annualized pace, the fewest since March and weaker than economist predictions.
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Condos making comeback in IndianapolisRestricted Content

August 23, 2014
Scott Olson
The market is starting to wake up after years of slumber caused by the housing downturn.
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Indianapolis homebuilder combines dashing design, prefabricated contructionRestricted Content

August 23, 2014
Sam Stall
Ursula David hopes her first manufactured home will catch on at other infill lots close to downtown.
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All-star real estate agent leadership sounding familiar

August 23, 2014
Ward takes first place among IBJ's All-Star Teams sixth year in row.
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Wynkoop is top real estate agent in 2014

August 23, 2014
Scott Wynkoop placed first among all-star agents a third year in a row.
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At-Home Quarterly MarketplaceRestricted Content

August 23, 2014
Look here for statistics on Indianapolis-area home sales, the most expensive local sale, and a map showing population density.
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Builders Estridge and Davis rebound from bust, run own firms again

August 23, 2014
Scott Olson
Brad Davis and Paul Estridge Jr. belong to a select fraternity. They’re prominent Indianapolis homebuilders whose companies faltered during the housing downturn, only to re-emerge in another incarnation.
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Residents of Packard condos settle suit with developer

August 21, 2014
Cory Schouten
Residents of downtown's The Packard condominiums have settled a two-year-old lawsuit with developer Kosene & Kosene Residential.
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Home construction on the rise nationally

August 19, 2014
Associated Press
U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines. Construction faltered, however, in the Midwest.
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Central Indiana home sales continue to trail 2013

August 18, 2014
 IBJ Staff
Home-sale agreements declined 13.8 percent in the nine-county area in July, the 11th straight month deals have decreased.
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Good Earth exits appeal of Broad Ripple project

August 18, 2014
Scott Olson
The $30 million development has been delayed by a request to repeal a zoning change for the property. Though Good Earth is no longer involved, a local resident is continuing his fight against the project from Browning Investments Inc.
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Lender files to foreclose on downtown's Villagio condos

August 15, 2014
Scott Olson
First Horizon Home Loans claims the owner of the Villagio at Page Pointe still owes nearly $5.2 million on an $11.6 million loan and is asking a court to appoint a receiver to manage the property until it's sold.
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Area homebuilding permit filings down in July

August 13, 2014
Permit filings for home construction in central Indiana fell 5 percent last month, the first decline the market has seen since January.
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Revitalization plan brings new homes to Crown Hill area

August 12, 2014
Dennis Barbosa
Near North Development Corp. is serving as master developer of the project, which is using $488,000 in U.S. Department of Housing and Urban Development grants.
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IUPUI plans to build $45 million residence hall

August 8, 2014
Jeff Newman
IUPUI hopes to build a $45 million residence hall for 700 students on the campus in time for the 2016-17 academic year, the university announced Friday afternoon.
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Second city Land Bank defendant pleads guilty

August 6, 2014
Cory Schouten
A second defendant in an alleged kickback scheme involving the Indy Land Bank has pleaded guilty, and a judge has moved a trial for three remaining defendants to early 2015.
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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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Contracts to buy homes decrease nationally

July 28, 2014
Associated Press
Sales have been slowed by a mix of meager wage growth, rising home prices, and mortgage rates that rose steadily through the end of last year.
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  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

  3. Brad is on to something there. The merger of the Formula E and IndyCar Series would give IndyCar access to International markets and Formula E access the Indianapolis 500, not to mention some other events in the USA. Maybe after 2016 but before the new Dallara is rolled out for 2018. This give IndyCar two more seasons to run the DW12 and Formula E to get charged up, pun intended. Then shock the racing world, pun intended, but making the 101st Indianapolis 500 a stellar, groundbreaking event: The first all-electric Indy 500, and use that platform to promote the future of the sport.

  4. No, HarveyF, the exact opposite. Greater density and closeness to retail and everyday necessities reduces traffic. When one has to drive miles for necessities, all those cars are on the roads for many miles. When reasonable density is built, low rise in this case, in the middle of a thriving retail area, one has to drive far less, actually reducing the number of cars on the road.

  5. The Indy Star announced today the appointment of a new Beverage Reporter! So instead of insightful reports on Indy pro sports and Indiana college teams, you now get to read stories about the 432nd new brewery open or some obscure Hoosier winery winning a county fair blue ribbon. Yep, that's the coverage we Star readers crave. Not.

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