Residential Real Estate

SKARBECK: Finding a bright spot in dismal housing newsRestricted Content

June 4, 2011
Ken Skarbeck
One analyst even declared that, relative to disposable income, housing is more undervalued than at any time in the last 35 years. So it is an attractive time to buy a house if you plan to be a long-term owner.
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Appraisal services firm plans local expansion, 150 jobs

June 3, 2011
 IBJ Staff
Indianapolis-based StreetLinks Lender Solutions plans to expand its operations, adding 150 employees by 2013, the real estate appraisal management services provider announced Friday morning.
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Work to begin on rare Washington Township home sites

May 31, 2011
Tom Harton
The transformation of a wooded ravine immediately north of Park Tudor School into an 11-lot gated community will bring to market a rare commodity: a cluster of new-home sites in densely populated Washington Township.
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Area home-building activity shows April uptick

May 16, 2011
In the nine-county area, the number of building permits filed in April climbed to 361, an increase of 10 percent from the same month in 2010.
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Area home sales slump for 12th straight month

May 16, 2011
Indianapolis-area home-sale agreements fell 36.4 percent in April compared to the same month last year, marking 12 consecutive months in which year-over-year sales have fallen.
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Historical society to operate former Ruth Lilly estate

May 10, 2011
Kathleen McLaughlin
The Indiana Historical Society will entertain its members in Ruth Lilly's former Indianapolis estate, Twin Oaks, under a contract with owners William and Laura Weaver, the society announced Tuesday.
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East-side apartment complex facing foreclosure

May 5, 2011
One West Bank in California says it is owed nearly $3.3 million, and is seeking to foreclose on Red Mill Apartments near East 38th Street and North Franklin Road.
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Local developer seeks bankruptcy protection

April 29, 2011
Scott Olson
Platinum Properties LLC, an Indianapolis upscale residential real estate developer, sought Chapter 11 protection on Monday, listing several huge debts to prominent local businesses and business people.
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Developer plans $13M senior-living center in Westfield

April 27, 2011
 IBJ Staff
Cicero-based developer Mainstreet Property Group LLC plans to build a $13.3 million senior health care center in Westfield. The 65,000-square assisted living facility will employ about 150 people when it opens in 2012.
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Estridge becomes division of national home builder

April 26, 2011
Scott Olson
The Estridge Group, which had operated in the Indianapolis area since 1967, has become part of Houston-based David Weekley Homes. Estridge had struggled in recent months to stay afloat during the severe housing downturn.
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Bill would shift tax appeals in property owners' favor

April 20, 2011
Francesca Jarosz
A bill expected to be heard Wednesday in the Indiana House would give property owners appealing the assessed value of their homes or buildings more clout in the fight.
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Local home-building activity still slumping

April 19, 2011
 IBJ Staff and Associated Press
Home-building permits filed in the Indianapolis area sank by more than 20 percent in March compared with the same month last year. Still, signs show home construction both locally and nationally may be picking up.
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Indianapolis-area home sales continue to slump

April 14, 2011
Sale agreements in the nine-county Indianapolis area fell 20 percent in March compared to the same month of 2010. Local home sales have been in a downward spiral for nearly a year.
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Foreclosure filings fall in state, nation

April 14, 2011
 IBJ Staff and Bloomberg News
Foreclosure filings in Indiana dropped 36 percent in the first quarter from the year-ago period, and 27 percent nationally. An industry report, however, attributes the decline to paperwork delays related to a documentation scandal.
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Portrait Homes parent files for bankruptcy

April 11, 2011
Kathleen McLaughlin
Chicago-based Pasquinelli Homebuilding is seeking bankruptcy liquidation for all its business entities, including Portrait Homes Indiana, which built hundreds of homes in the Indianapolis area.
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Residential developer declares bankruptcy

April 6, 2011
Scott Olson
John Swinehart, a former executive of Bruce Gunstra Builders Inc. who was involved in the Monon on Main project in Carmel, is seeking Chapter 7 bankruptcy protection. He lists liabilities of $8.3 million.
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Condo sales lag in hot downtown apartment market

April 5, 2011
Cory Schouten
New apartment projects carrying premium rents are popping up all over downtown, but the strong demand for urban living isn't providing much of a boost for the condo market.
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Meridian Street buildings to get facelift

April 2, 2011
 IBJ Staff
A not-for-profit is partnering with a locally based developer to renovate two vacant apartment buildings near Meridian and 38th streets into specialized affordable housing.
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City sells North of South bonds, locks in 5.2-percent rate

April 2, 2011
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
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High-rise living in midtown IndianapolisRestricted Content

March 26, 2011
Katie Maurer
Author Lorene Burkhart remains grounded despite her penthouse surroundings
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Housing group gets $6.3 million from Lilly Endowment

March 21, 2011
Sean Morrison
Lilly Endowment Inc. is continuing its decades-long support of the Indianapolis Neighborhood Housing Partnership, awarding the not-for-profit a $6.3 million grant to help low- and middle-income families become homeowners.
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Home builder Estridge promises to finish homes, fight onRestricted Content

March 19, 2011
Anthony Schoettle
Paul Estridge Jr. says he’s in talks with three investors who are interested in keeping his company in business.
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Estridge: We need cash to survive

March 17, 2011
Anthony Schoettle
Paul Estridge Jr. says potential investors have inquired about helping his homebuilding company. Without millions in capital and a line of credit, the business could close within a week.
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Local home construction plummets again

March 16, 2011
 IBJ Staff and Associated Press
Home-building permits filed in the Indianapolis area fell by more than 40 percent in February compared with the same month last year. Nationally, builders broke ground last month on the fewest homes in nearly two years.
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Another northwest-side apartment complex faces foreclosure

March 16, 2011
Lender Fannie Mae filed to foreclose on Inverness Apartment Homes, whose Vancouver-based owner allegedly owes $4 million on a note that was due in February.
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