Residential Real Estate

Local developer rescues 1913 apartment building from wrecking ball

January 3, 2012
Cory Schouten
A local developer and historic preservation group have teamed up to save a 1913 apartment building near the Children's Museum from demolition.
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Progress slow on variety of metro area deals

December 27, 2011
Tom Harton
Many projects we reported on here over the past year are still in progress, confirming that the real estate market is still sluggish.
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Real estate meltdown leaves developers reeling

December 24, 2011
It was another rough year for the real estate sector in 2011, as the homebuilder Estridge filed for bankruptcy, strip-center specialist Broadbent struggled to hold onto its headquarters, and Centre Properties faced a $43 million foreclosure suit.
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Park Tudor land purchase puts stop to housing development

December 20, 2011
Tom Harton
The private school recently bought the 5.7 acres north of its campus that Dr. Bill Nunery, a local ophthalmologist, had planned to develop into an upscale residential enclave known as Grace Hill.
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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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East-side apartment complex target of $9M foreclosure

December 13, 2011
A Marion Superior Court judge has approved the appointment of a receiver to manage Lexington Park near North Post Road and East 38th Street.
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Carmel office/retail complex hurt by road project gets second chance

December 13, 2011
Tom Harton
Merchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start after major road construction drove away tenants and caused a previous owner to default.
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Area home-sale deals make November jump

December 12, 2011
The 7.2-percent increase last month in Indianapolis home-sale agreements marks the seventh straight month of year-over-year increases, according to a report from F.C. Tucker Co.
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Developer plans 26-story tower along canal

December 10, 2011
Cory Schouten
Valparaiso-based Investment Property Advisors wants to build an $83 million apartment project for college students on one of the last available parcels along downtown’s Central Canal.
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Keystone Towers redevelopment could start in April

December 7, 2011
Scott Olson
The first phase of the $22.5 million project, dubbed The Point on Fall Creek, would involve the construction of 58 apartments. Another 80 units would follow, complemented by a retail component.
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Ex-Speedway boss plans 4-lot subdivision on north side

December 6, 2011
Scott Olson
Former Indianapolis Motor Speedway CEO Tony George and his wife had tried unsuccessfully to sell their 12-acre wooded estate and now are planning to divide the land into a four-lot subdivision.
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New deals add to robust year in apartment sales

December 6, 2011
Tom Harton
The number of transactions has more than doubled compared with last year, a spike in deal flow caused by healthy occupancy rates and a combination of ample supply and low borrowing costs.
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Builder, developer partner in turnaround firm

November 29, 2011
Tom Harton
Providence Homes was started earlier this year by Mitch Davis, 42, a former vice president of the now-defunct CP Morgan Homes; and Brian Mann, 44, managing partner of Mann Properties.
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Flaherty nears deal for Cosmopolitan investment

November 22, 2011
Cory Schouten
The developer of downtown's Cosmopolitan on the Canal is nearing a deal to sell a stake in the building to an investor in a move that could free up capital to launch a $24 million second phase.
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Apartment project planned for south end of Monon

November 15, 2011
Tom Harton
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
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Default notices, home seizures climb in Indiana, nation

November 10, 2011
 IBJ Staff and Bloomberg News
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
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Area home-sale deals show another monthly increase

November 10, 2011
In the nine-county metropolitan area, sale agreements for existing homes climbed nearly 12 percent, to 1,541, in October, an increase of 163 from the same month last year.
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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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Buyers edging back into Indianapolis commercial real estateRestricted Content

November 5, 2011
Cory Schouten
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
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Court case might roil not-for-profit tax rulesRestricted Content

November 5, 2011
Francesca Jarosz
A Bartholomew County not-for-profit affordable housing development group is preparing to fight in Indiana Tax Court a denial of its property-tax exemption. The denial has put the organization $200,000 in debt and its rental homes in danger of tax foreclosure.
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City files nuisance charges against property owner

November 3, 2011
The complaint alleges that David J. Williams' properties have been the subject of more than 400 violations and have generated more than 30 police reports for criminal activity.
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New apartments in 2012 on track for a 25-year high

November 1, 2011
Cory Schouten
A survey of developers suggests up to 3,438 new units could hit the rental market next year, which would be the highest total since 1987, when central Indiana gained about 4,500 units.
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Bush Stadium gets last hurrahRestricted Content

October 29, 2011
 IBJ Staff
City leaders and economic development officials planned to pay tribute Oct. 28 to Bush Stadium’s historical significance before work begins to convert the venue into loft apartments.
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International Center CEO downsizes in styleRestricted Content

October 29, 2011
Katie Maurer
A widow and empty-nester, Diane Thomas makes space count in her ‘little’ 1920s-era home in the Meridian Kessler neighborhood.
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Developer plans $54 million in new apartment projects

October 28, 2011
Cory Schouten
A local developer plans to invest more than $54 million to build apartment communities adjacent to the Rivers Edge shopping center in Indianapolis and Metropolis in Plainfield.
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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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