Residential Real Estate

Excise police warn retirement home about social-hour alcohol

July 12, 2014
Associated Press
Indiana excise police told Meadowood Retirement Community that it could no longer serve its residents alcohol without a state liquor license from the Indiana Alcohol and Tobacco Commission.
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Duo creating waves in older Indy neighborhoods

July 12, 2014
Cory Schouten
A Realtor and builder are buying north-side homes to be overhauled and sold for big prices, dividing neighbors over the value of gentrification.
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Northern suburbs see blitz of apartment construction

July 12, 2014
Andrea Muirragui Davis
Growing demand for high-end, low-maintenance living is fueling an apartment-building boom in Indianapolis’ northern suburbs—and raising concerns among some leaders about the risks of adding too much too fast.
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Butler to build new residence hall, parking garage

July 11, 2014
Scott Olson
The projects are part of a larger plan to add more student housing, possibly construct a larger facility to house the university's business school and renovate existing academic buildings.
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Carmel developer sinks $66M into four senior communities

July 8, 2014
Scott Olson
Leo Brown Group opened two facilities in Indianapolis and Avon in June, and has started construction on two similar projects in Ohio and Kentucky.
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Multifamily projects abound in Chatham Arch, Lockerbie

July 8, 2014
Scott Olson
The four projects, one of them condominiums, would add nearly 280 units within about a four-block stretch from East Michigan Street north to Massachusetts Avenue.
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Home buyer tastes have shifted since housing bust

June 28, 2014
Scott Olson
Old standbys are have been replaced by new features and colors. The changes range from rooms to styles.
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Mansion restoration is dream come true for new owners

June 28, 2014
Sam Stall
David and Alice Berger have sank more than five years of effort into bringing the former Lacy property back to its industrial era grandeur.
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At-Home Quarterly Marketplace

June 28, 2014
See the prices Indianapolis-area houses are selling for along with the most expensive recent sale, and a map of where people born out of state are most likely to live.
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Democrats want more cops living in tough neighborhoods

June 25, 2014
Dennis Barbosa
A proposal unveiled today would allow officers to live rent-free in new or refurbished houses and then allow the officers to buy the homes.
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Sales of U.S. existing homes up 4.9 percent in May

June 23, 2014
Associated Press
Sales of previously owned U.S. homes posted the best monthly gain in nearly three years in May, providing hope that housing is beginning to regain momentum lost over the past year.
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Cottage Home neighborhood attracts another single-family housing project

June 21, 2014
Scott Olson
A local developer plans to build 14 houses in the up-and-coming neighborhood as part of a project that could include a two-story mixed-use development along East 10th Street.
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Estate in rural Indiana priced at $8M could be tough sell

June 17, 2014
Associated Press
Carriage Manor Estate is like one of those houses you see on TV shows documenting the high life of the rich and famous — except it's not located in Beverly Hills, New York or even Indianapolis.
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Area home-construction permit filings flatten out

June 17, 2014
 IBJ Staff and Associated Press
Homebuilders filed 530 single-family building permits in the metro area in May. That’s exactly the same number of permits that were filed in May 2013. Local construction numbers were better than national figures.
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Existing home sales continue dismaying trend

June 16, 2014
 IBJ Staff
Figures for May add to evidence that about 14 percent fewer homes are selling this year in the nine-county area compared with the same point in 2013. But sale prices still are on the rise.
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Remodelings might await boomers wanting to stay in their homes

June 14, 2014
Norm Heikens
Many homes will be difficult for aging boomers to navigate without changing doors, bathrooms, hallways and kitchens.
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Tiny Sheridan girds for inevitable growth

June 7, 2014
Andrea Muirragui Davis
The tiny Hamilton County community is mindful of sprawl in Carmel and Fishers, and is determined to absorb growth on its own terms.
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Housing developer hopes farm hooks new residents

June 7, 2014
Kathleen McLaughlin
A growing number of housing developers thinks farms, rather than golf clubs, are the perfect hook to lure residents. The first to experiment with the concept in central Indiana is Mike Higbee of Central Greens LLC, with his Seven Steeples Farm on the site of the old Central State Hospital.
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Herman & Kittle plans $28M downtown apartment project

June 3, 2014
Scott Olson
The Indianapolis developer plans to build 211 units at the southeast corner of College and Maryland Street. Meanwhile, the owner of a building across the street that last housed a sporting goods store is accepting bids on the property.
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Council to consider citywide landlord registry

June 2, 2014
Kathleen McLaughlin
Indianapolis landlords would have to register with the city by Jan. 1 or face a $500 fine under a proposal that will be introduced to the City-County Council on Monday night.
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Pedcor angling for $16M subsidy for City Center expansion

May 31, 2014
Andrea Muirragui Davis
Preliminary plans call for starting work on a parking garage and as many as three mixed-use buildings this fall, with another half-dozen projects in the pipeline.
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Indiana cities getting money to fight urban blight

May 27, 2014
 Associated Press and IBJ Staff
Indianapolis, Lawrence, Gary and two other Indiana cities have received a total of about $15 million to help eliminate blighted and abandoned homes.
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Former real estate broker faces felony charges

May 21, 2014
 IBJ Staff
The Marion County prosecutor’s office said David Garden was charged with corrupt business influence, 11 counts of forgery and 15 counts of theft.
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Aging suburbs facing long road backRestricted Content

May 17, 2014
Kathleen McLaughlin
Poverty is encroaching on the outer townships of Marion County, adding to their handicap in the competition with doughnut counties, where houses are newer, and sidewalks, sewer connections and bike paths come standard.
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Carmel selling vacant land in Old Town neighborhood

May 14, 2014
Andrea Muirragui Davis
The Carmel Redevelopment Commission is accepting offers for an undeveloped parcel of land in the city's resurgent Old Town neighborhood, near a planned expansion of a popular subdivision.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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