Residential Real Estate

Home-building permit filings continue to climb

February 12, 2013
Area home-building activity continues to improve as the number of single-family permits filed in January jumped 55 percent from the same period last year.
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Downtown projects face crucial hurdles

February 12, 2013
Tom Harton
Two downtown apartment projects seek critical government approvals in the next month, while  another commercial project is on track to start this year.
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Long-struggling condo development going to auction

February 5, 2013
Tom Harton
The mostly two-bedroom units represent the bulk of the ill-fated Chatham Kynett Court project at 716 N. East St. in the Chatham Arch neighborhood.
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Marion County assessor bracing for more tax appeals

January 23, 2013
Scott Olson
Marion County property-tax appeals from the 2012 assessment are due Monday and will add to a backlog of roughly 27,000 existing appeals from previous years that the office is continuing to wade through.
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Flock plans overhaul of Old Northside apartments

January 22, 2013
Cory Schouten
Flock Real Estate Group plans to spend more than $1 million to renovate side-by-side Old Northside apartment buildings in the firm's largest solo project to date.
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Area home sales rise for 20th straight month

January 15, 2013
 IBJ Staff
Home-sale agreements in the nine-county Indianapolis area jumped 12.2 percent in December, marking a 20th straight month of gains and capping off a strong year for residential real estate.
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$1.5M plan to salvage Di Rimini nears finish line

January 15, 2013
Cory Schouten
The bank that owns the hulking pile of code violations known as Di Rimini at the southeast corner of Capitol Avenue and St. Clair Street is poised to invest more than $1.5 million to finish the ill-fated project.
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Developer settles suit with Hudson condo residents

January 14, 2013
The complaint alleged that Hudson residents in 2011 began noticing cracks in the first-floor walls and ceiling of the downtown condominium, in addition to noticing a slope in the floor.
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Area homebuilding hits highest mark since 2008

January 9, 2013
Scott Olson
The number of home construction permits in the Indianapolis area jumped 16 percent last year, marking just the second year-over-year increase in filings since 2005.
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$30M Keystone mixed-use project seeks city approval

January 8, 2013
Tom Harton
Hendricks Commercial Properties wants to build a five-story, L-shaped building with more than 36,000 square feet of ground-level retail space and 130 high-end apartments on the upper floors.
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U.S. banks to pay $8.5B in mortgage settlement

January 8, 2013
Associated Press
Hundreds of thousands of Americans stand to benefit from the latest mortgage-abuse settlement, but consumer advocates say U.S. banks may be getting the best of the deal.
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Area home-sale agreements rise for 19th straight month

December 17, 2012
Home-sale agreements in the nine-county Indianapolis area jumped 14.2 percent in November, marking the 19th straight month the number of pending sales has increased.
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Home seizures by banks rise in Indiana, nationally

December 13, 2012
 IBJ Staff, Bloomberg News, Associated Press
Home repossessions rose in 29 states and the District of Columbia in November, led by an increase of 96 percent in Indiana. However, the number of homes starting on the path to foreclosure declined to the lowest level in six years.
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Former NBA player Henderson gets city OK to build home

December 12, 2012
Scott Olson
Former Indiana University and NBA basketball player Alan Henderson got approval to build a home on Indianapolis’ north side in spite of fierce opposition from neighbors.
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Housing group sues Buckingham over apartment accessibility

December 11, 2012
Scott Olson
The National Fair Housing Alliance alleges in a lawsuit that four of the local apartment developer's properties violate Fair Housing Act accessibility requirements.
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Deadline looms to refile for homestead tax break

December 10, 2012
Scott Olson
The law, passed in 2009, says Hoosier homeowners will lose their deduction beginning in 2013 if they don't complete and return a homestead verification form by Jan. 1.
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How 3 real estate entrepreneurs expanded during slowdownRestricted Content

December 8, 2012
Cory Schouten
Aasif Bade of Ambrose Property Group, Tadd Miller of Milhaus Development and Joe Whitsett of The Whitsett Group saw opportunity as many rivals retrenched.
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Strong finish to year giving home builders optimism

December 7, 2012
Scott Olson
The number of single-family building permits filed in the nine-county area climbed 43 percent in November, the fifth straight month of year-over-year increases, according to the Builders Association of Greater Indianapolis.
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Gas leaks force 29 from central Indiana apartments

December 6, 2012
Associated Press
Authorities have ordered the 29 residents of an Anderson apartment complex to leave their homes until gas leaks found in all five of its buildings can be repaired.
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Lawmaker seeks funding to tackle abandoned housingRestricted Content

November 24, 2012
Kathleen McLaughlin
State Rep. Ed Clere plans to introduce a bill that would give municipalities explicit powers to create land banks, which can sell surplus property for redevelopment. He also wants to include a revenue source to support land-bank operations and eliminate tax-foreclosure sales as a form of investor speculation.
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$22M foreclosure suit targets local apartment complexes

November 21, 2012
Scott Olson
The three complexes are Dogwood Glen Apartments on the city's northwest side, Elmtree Park Apartments on the far-east side and Heathmoore Apartments on the southeast side.
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Developer unveils 16-home project just east of downtown

November 20, 2012
Tom Harton
The Re-Development Group Inc. bought a1.6-acre site at New York Street and Highland Avenue last May and will raze three 1960s-era office/warehouse buildings to make way for home construction in 2013.
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Carmel project dogged by conflict questionsRestricted Content

November 17, 2012
Kathleen McLaughlin
An executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project was driven by conflicts of interest.
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Area home-sale contracts rise 20 percent

November 14, 2012
Home-sale agreements in the nine-county Indianapolis area rose 20.6 percent in October, the 18th straight month of year-over-year improvement in sales contracts.
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One Mass Ave project starts; another one is in limbo

November 13, 2012
Tom Harton
Insight Development has begun building an $11.5 million, 61-unit apartment project at Massachusetts Avenue and East and North streets. But  the fate of the second phase is up in the air because its financing had been tied to a project Insight and Flaherty & Collins Properties had hoped to develop across Mass Ave at the site of the Indianapolis Fire Department headquarters.
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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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