Residential Real Estate

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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Building-permit activity rises in February

March 14, 2012
The nine-county Indianapolis area rebounded from a slow January to post a 40-percent year-over-year increase in building permits last month.
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Zionsville real estate schemer sentenced to 30 months

March 14, 2012
Kathleen McLaughlin
A Zionsville man who pushed real-estate investing schemes has been sentenced to 30 months in prison after pleading guilty to wire fraud and money laundering.
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Plans call for apartment conversion of 10-story American Building

March 13, 2012
Cory Schouten
The Whitsett Group and Ambrose Property Group expect to spend $7 million to $10 million to retrofit the building at 333 N. Pennsylvania St. to accommodate 72 apartments.
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Area home sales stay on upward path in February

March 12, 2012
 IBJ Staff
Purchase agreements in the nine-county area tracked by F.C. Tucker hit 1,728, a 14.7-percent increase over February 2011. The increase marked the 10th straight month of year-over-year improvement.
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Developer breaks ground on Bush Stadium projectRestricted Content

March 10, 2012
The project by developer John Watson’s Core Redevelopment calls for preserving the stadium’s historic façade and shell as part of the 131-unit Stadium Lofts apartments, along with an adjacent 132-unit apartment community called Stadium Flats.
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Fixes to historic preservation tax credits may have to wait

March 6, 2012
Cory Schouten
Fixes to the state's historic preservation tax credit program pushed by Indiana Landmarks may have to wait another year after the Indiana Senate put the brakes on a bill that garnered unanimous support from the Indiana House.
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State economy finally gaining tractionRestricted Content

March 3, 2012
J.K. Wall
Leading indicators for Indiana's economy are looking up: Banks are increasing lending, real estate developers are pulling the trigger on long-shelved projects, manufacturers are expanding, and consumers are even buying big-ticket items, including automobiles.
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West-side apartment complex to house veterans

February 29, 2012
Lincoln Apartments is set to be built on the city's west side, near the Richard L. Roudebush VA Medical Center. The project will be financed with $11 million in rental housing tax credits.
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CityWay designed to integrate retail, housing, hotel, YMCARestricted Content

February 25, 2012
Marc D. Allan
Architects were told to push the envelope and integrate. Be mindful of where you are in the city and integrate well.
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New-home construction off to mild start

February 23, 2012
Scott Olson
Building permits filed in the nine-county Indianapolis metropolitan area totaled 194 in January, a 2-percent dip from the same time last year. But industry leaders are cautiously optimistic.
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Tax credits spur city apartment constructionRestricted Content

February 18, 2012
Scott Olson
Increase in federal funding helps developers finance projects that include mixed-income rental housing.
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Developer plans $15.7M senior-living center on east side

February 17, 2012
Scott Olson
The city of Indianapolis approved the project after accepting Mainstreet Property Group's offer to purchase the property at 16th Street and Arlington Avenue for $912,500.
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Foreclosure activity edges higher in January

February 16, 2012
Associated Press
Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year. Foreclosures were up 69 percent in Indiana compared to January 2011.
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Home-sale agreements for Indy area jump in January

February 13, 2012
Sales of existing homes in the Indianapolis area are off to a strong start in 2012, with the number of sales agreements increasing 13.4 percent in January compared with the same month a year earlier.
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Glick center receives $6.3 million federal grant

February 9, 2012
The funds will be used to construct a three-story, independent-living facility consisting of 50 one-bedroom units for low-income senior citizens at the neighborhood center on Indianapolis' northwest side.
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New mixed-use project holds promise for building across street

January 31, 2012
Tom Harton
An 82-year-old downtown commercial building that’s had trouble luring tenants is suddenly positioned to thrive courtesy of an $85 million mixed-use project planned for a site right across the street.
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Few in Indiana using state fund to avoid foreclosure

January 30, 2012
Associated Press
A state program created to help Indiana residents avoid foreclosure by providing them with 10-year loans is seeing few takers even though the state's foreclosure rate is among the highest in the nation.
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Apartments rev up residential revival downtownRestricted Content

January 28, 2012
Cory Schouten
An apartment building spree downtown is getting fresh fuel with an $85 million mixed-use development that will be anchored by a Marsh grocery.
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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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Marsh to anchor massive new downtown development

January 24, 2012
Cory Schouten
A local developer plans to build a Marsh grocery store and hundreds of apartments in an $85 million project that would replace a block and a half of surface parking lots in the northwest quadrant of downtown.
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Central Indiana home sales improved slightly in 2011

January 24, 2012
Closed sales last year inched up 1.2 percent in 13 area counties and jumped 18.3 percent from July through December, bolstered by a 7.2-percent increase during the last month of 2011.
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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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Hundreds of houses available as Super Bowl rentals

January 20, 2012
Scott Olson
Indianapolis-area homeowners are looking to cash in by opening up their homes to visitors for daily prices ranging from about $700 to $9,000, but demand may not come until participants in the big game are settled.
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State auctioning surplus farmland at height of market

January 17, 2012
Tom Harton
Up for grabs are 670 acres of prime farmland southwest of Pendleton between Interstate 69 and U.S. 36.
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