Residential Real Estate

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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East 10th Street retail gets a boost

October 25, 2011
Scott Olson
Two veterans of vintage retail are teaming up to open a store on a near-east-side corridor that’s getting renewed attention from the 2012 Super Bowl Legacy Project.
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Indianapolis neighborhood striving for LEED statusRestricted Content

October 22, 2011
Scott Olson
Designation to east-side project would go beyond building certification.
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Indy's housing market posts strong September

October 14, 2011
Scott Olson
In the nine-county metropolitan area, the number of home-construction permits filed last month increased 22 percent from the same month in 2010, while home-sale agreements rose 5.1 percent.
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Housing will be initial focus of redevelopment at Winona site

October 10, 2011
Scott Olson
The city, along with the nearby Children's Museum of Indianapolis, is spearheading redevelopment of the abandoned property where demolition began Monday. Bids to build mixed-income housing will be sought in the coming months.
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Apartments, retail planned for Virginia Ave. corridorRestricted Content

October 8, 2011
Cory Schouten
Call it Extreme Makeover: Holy Rosary. Just about every building and corner along a four-block stretch of Virginia Avenue in this historic neighborhood southeast of downtown is under construction or will be soon.
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Waiting for construction industry to recoverRestricted Content

October 8, 2011
Tawn Parent
The recession officially ended more than two years ago. But the number of local construction jobs is still down 27 percent from 2007 levels. Will the industry ever feel relief? Some segments might not recover in a big way until 2013.
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Developer proposes $22M project for Keystone Towers site

October 6, 2011
Scott Olson
The Whitsett Group LLC's plans call for a $22 million project that would include nearly 140 apartments and a retail component on the property where Keystone Towers stood. The company submitted the lone bid to the city to redevelop the site.
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Commission approves demolition for Indy East Motel

October 6, 2011
Francesca Jarosz
The Indianapolis Historic Preservation Commission unanimously approved the demolition of the former motel at 5585 E. Washington St.—with a few conditions. Developers plan an $8.7 million project for the site.
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Page Development CFO files for personal bankruptcy

September 30, 2011
J.K. Wall
Paul M. Pittman, one of four principals in a troubled Indianapolis-based condo developer, filed personal bankruptcy this week.
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Homebuilder Estridge files for bankruptcy

September 29, 2011
Anthony Schoettle
Paul Estridge Jr. owes a list of creditors including banks, suppliers and vendors more than $50 million, but has assets of less than $5 million, he said.
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Investor Buffett gets behind east-side revitalization project

September 28, 2011
Scott Olson
Warren Buffett joined other investors and Indianapolis community leaders Wednesday morning for a ribbon-cutting ceremony at the $27 million East Village at Avondale apartment project.
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Developer zeroes in on troubled Irvington site

September 27, 2011
Tom Harton
A developer that wants to replace a vacant Irvington motel with an $8.7 million apartment building could get permission as early as next week to clear the site for redevelopment.
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Big ambitions for small planning firm

September 24, 2011
Andrew Smith
Eden Collaborative, the three-man company Adam Thies founded in 2004, is working to revitalize St. Clair Place on Indianapolis’ east side, among other projects.
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Program lets Hoosier volunteers get mortgage help

September 23, 2011
Kathleen McLaughlin
Indiana has $221 million to give to unemployed people who are struggling to cover their mortgage payments. Recipients have to take part in job-training, go back to school, or agree to volunteer through HoosierCorps.
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Multi-family housing project slated for Monon Trail

September 20, 2011
Scott Olson
King Park Area Development Corp. is partnering with an Indianapolis developer on an $8.7 million residential project to improve a blighted parcel along the trail.
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Dillinger relative considers moving gangster's home

September 20, 2011
Associated Press
A great nephew says he's talking with people in Greencastle and two out-of-state locations about sites for his collection of Dillinger items and possibly the farmhouse that is now in Dillinger's hometown of Mooresville.
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Mortgage-default filings surge in Indiana, nation

September 15, 2011
Bloomberg News
Default notices sent to delinquent U.S. homeowners surged 33 percent in August from the previous month, a sign that lenders are speeding up the foreclosure process. Indiana saw an increase of 46 percent, a bigger rise than every state except California.
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Area home-construction permits rise in August

September 15, 2011
Home-construction permits in the Indianapolis metropolitan area climbed 23 percent in August thanks to a surge of activity in suburban counties.
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Owner of East Market Street buildings eyes apartment conversion

September 13, 2011
Tom Harton
Crown Property Group is issuing a request for proposals for two East Market Street buildings that now are used for office space.
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Home-sale agreements rise in Indianapolis area

September 12, 2011
Pending home sales in the nine-county metropolitan area climbed 7 percent in August compared with the same month a year ago, marking the fourth straight month of year-over-year increases.
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Critics: Wrecking ball won't fix Indianapolis neighborhoodsRestricted Content

September 10, 2011
Francesca Jarosz
Many neighborhood leaders have hailed Mayor Greg Ballard’s initiative to raze some 2,000 abandoned homes by the end of 2012 as a long-overdue means of tackling urban blight. But some residents and experts fear rampant demolition—without a clear plan for how to redevelop the properties—will fail to improve neighborhoods.
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Former real estate exec to plead guilty to wire fraud

September 6, 2011
Scott Olson
Kim Hutchinson, former treasurer of J. Greg Allen Builders and Princeton Homes, agreed to plead guilty to stealing $446,419. Her cooperation likely will result in a lighter sentence of 30 to 40 months.
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Johnson County still dealing with 2008 flood

September 6, 2011
Associated Press
Johnson County officials have been working to buy about 40 flooded properties in an area a few miles west of Greenwood, so they can be demolished.
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Hot apartment market sees robust sales

September 6, 2011
Tom Harton
Gene B. Glick Co.’s purchase of the 240-unit Thompson Village apartment complex on the south side is the most recent deal in a year full of apartment transactions.
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