Residential Real Estate

Ball State planning 100-room campus hotel

April 25, 2012
Associated Press
Ball State University plans to build a $25 million hotel in a building that will also have student-housing space, conference rooms and two restaurants.
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Pulte snaps up, repositions stalled Avon housing development

April 24, 2012
Tom Harton
Pulte is tossing out the prior builder's playbook, which called for duplexes aimed at buyers 55 and older. Pulte rezoned the land to allow for single-family homes on larger lots. The resulting 123 home sites will accommodate ranch-style homes starting in the low $100,000 price range.
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Milhaus buys 55 acres on Keystone to build 300 apartmentsRestricted Content

April 21, 2012
Cory Schouten
One of the most conspicuous local remnants of the condo crash—an unfinished $150 million South Carolina-themed community near Keystone at the Crossing—could finally be completed, as apartments.
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City gives OK for $60M apartment building on canal

April 18, 2012
Scott Olson
Investment Property Advisors agreed to reduce the size of the apartment building from 26 stories to 10 stories and from 485 units to 319 units to help gain support from the city.
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Plan envisions hot growth for downtown IndianapolisRestricted Content

April 14, 2012
Cory Schouten
A study commissioned by the office of Mayor Greg Ballard envisions a much more densely populated, walkable downtown core stretched by several blocks and supported by another Circle Centre mall's worth of retail and enough new office space to double the size of Chase Tower.
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Homebuilders resume land development after enduring crashRestricted Content

April 14, 2012
Cory Schouten
Newly confident buyers seeking to capitalize on low mortgage rates have discovered there’s a scarce supply of well-maintained existing homes for sale and are turning in larger numbers to new homes.
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Lakes of Carmel apartment complex sold

April 13, 2012
The 324-unit Lakes of Carmel apartment complex has been sold, a real estate broker involved in the sale announced Friday. Terms of the sale were not announced, but the property was previously sold in 2006 for $21.8 million.
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Area homes sales rise for 11th straight month

April 13, 2012
Purchase agreements in the nine-county area increased 4.9 percent over March 2011. Existing home sales were up 13.3 percent in the first quarter of 2012 and have recorded year-over-year improvements for 11 straight months.
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City approves design of $45M downtown project

April 12, 2012
Scott Olson
Plans call for the vacant, two-story former Bank One Operations Center at the northwest corner of Washington and East streets to be converted into a five-story apartment building with office or retail space on the first floor.
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Area home-building activity up in first quarter

April 12, 2012
New-home permits in the Indianapolis metropolitan area rose 13 percent in the first three months of 2012 compared with the same quarter last year, bolstered by stronger activity in February and March.
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Foreclosures down nationally, up in Indiana

April 12, 2012
Associated Press
Actual foreclosures sank to a five-year low in March, but the number of homes entering the foreclosure process is on the rise again.
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Penn Arts owner buys historic apartment buildingRestricted Content

March 31, 2012
The Piccadilly, at 16th and Pennsylvania streets, will undergo a historically sensitive renovation of its 58 units.
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Mass Ave project surrounding Barton Tower gets state OK

March 27, 2012
Tom Harton
A partnership of Flaherty & Collins Properties and Insight Development Corp. was awarded rental housing tax credits by the state that will be sold to finance construction of a 61-unit, $11.5 million apartment project at 555 Massachusetts Ave.
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DIRECTORY: Swimming Pool Companies

March 24, 2012
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Apartment convenience luring would-be homebuyersRestricted Content

March 24, 2012
Cory Schouten
Developers are catering to nontraditional renters by building units resembling upscale condos.
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Carmel home designed to keep energetic kids occupiedRestricted Content

March 24, 2012
Katie Maurer
At 10,000 square feet, Paul and Sarah Lushin's sprawling French Country residence offers plenty of space for recreation and entertaining. It also serves as home base for the family’s quarter midget racing team.
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DIRECTORY: Residential Design Companies

March 24, 2012
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Decision on canal residential project delayed again

March 22, 2012
Scott Olson
The Metropolitan Development Commission moved a vote on the proposal to April 18 after expressing concern that it didn't have enough time to review plans that reduce the project from 26 stories to 10. The developer criticized the delay.
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Builders betting on brighter U.S. housing market

March 21, 2012
Associated Press
Residential building permits are being filed nationally at about half the rate considered healthy by most economists, but builders have grown more confident over the past six months after seeing more people express interest in buying a home.
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Developer scales back plans for tower along Central Canal

March 20, 2012
Scott Olson
The firm behind a proposed downtown apartment tower designed for college students has slashed its height from 26 to 10 stories to improve its chances of winning city approval.
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Irvington apartment, streetscape projects clear hurdles

March 20, 2012
Tom Harton
Two significant construction projects are closer to starting in Irvington, where the district’s East Washington Street commercial corridor is bouncing back even as one of its key buildings faces demolition.
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Downtown condo residents sue developer over damage

March 19, 2012
Scott Olson
The homeowners association for the 70-unit Hudson wants the building's developer, Kosene & Kosene, to pay to repair damage it alleges was caused by faulty construction.
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Deal rekindles $45M downtown projectRestricted Content

March 17, 2012
Cory Schouten
Former partners in Kosene & Kosene Development have settled a legal dispute that jeopardized redevelopment of the vacant former Bank One Operations Center downtown. Milhaus Development has until May 1 to begin construction.
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Foreclosures surge in most states, including Indiana

March 15, 2012
Associated Press
Indiana saw default notices climb 37 percent in February compared to February 2011. Scheduled home auctions were up 92 percent from the previous year.
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Three Anderson workers fired over relatives' HUD funds

March 14, 2012
Associated Press
Three employees of an Anderson department that receives federal money for affordable housing have been fired for failing to notify city and federal officials that they had relatives whose housing was paid for with the funds.
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