Residential Real Estate

Lender suffers own painful loss after homeowner's deathRestricted Content

April 17, 2010
Greg Andrews
A home that fetched $1.6 million in 2005 fetched a mere $370,000 when the lender sold it last year.
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Simon mansion in Bel Air on market for $50M

April 15, 2010
Scott Olson
The 20,000-square-foot estate is in the ritzy neighborhood's most prestigious area, and boasts eight bedrooms and 16 bathrooms.
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Area home sales, prices continue to improve

April 12, 2010
Scott Olson
Sales agreements in the nine-county area rose last month by 10.6 percent, compared with the same month last year, while prices jumped 12.1 percent.
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City's No. 2 real estate agency changes brands

April 8, 2010
 IBJ Staff
Century 21 Realty Group is now Prudential Indiana Realty Group, affecting 418 agents in 12 offices around Indiana.
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Engeledow Group acquires estate landscaper

March 29, 2010
Kathleen McLaughlin
Engledow Group, one of the Indianapolis area's largest landscape companies, has acquired Litchfield Landscape Co. to bolster its estates division.
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Tax-break deadline spurs spec homes in Parade

March 29, 2010
Scott Olson
This spring's Parade of Home is being held about two weeks earlier than normal to help builders lure homebuyers who want to take advantage of federal incentives intended to give the residential real estate market a boost. Builders also are taking chances on more spec homes.
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Lugar Tower project delayed by lack of tax credits

March 26, 2010
Scott Olson
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
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Insurer lending $7M for east-side Super Bowl project

March 22, 2010
Scott Olson
The aim is to spur redevelopment on the city's blighted near-east side before the 2012 Super Bowl is played in Indianapolis.
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Home builder officially declares bankruptcy

March 19, 2010
Indianapolis home builder Hansen & Horn Group Inc. has officially declared bankruptcy after owners agreed to liquidate the company earlier this month.
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Former Summit House apartment tower sold

March 16, 2010
Tom Harton
The landmark apartment building at 38th and Meridian streets formerly known as Summit House has been purchased by a pair of Chicago investors who plan to invest  “a significant amount of capital” into the 20-story tower.
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Local luxury home sales jumped in February

March 15, 2010
Kathleen McLaughlin
Luxury home sales in central Indiana surged in February despite an overall decline in home sales, Re/Max of Indiana reported Monday morning.
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Indianapolis Housing Agency pulls off big tax credit deal

March 13, 2010
Tom Harton
City agency plans renovations, expansions at eight apartment properties.
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Carpenter Realtors trots out smart phone technology

March 13, 2010
 IBJ Staff
Specialized bar codes will be on Carpenter materials ranging from print advertisements to yard signs.
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Area home sales, prices show increase

March 11, 2010
The housing market could be awakening from its deep sleep, if February home-sale agreement figures are any indication.
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Delta Faucet cutting 40 more jobs at Greensburg plant

March 10, 2010
The Carmel-based company said its decision to consolidate machining activities at a plant in Tennessee is driven by weak retail sales and a sluggish housing market.
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Huge tax-credit deal will fund rehab of 538 apartment units

March 9, 2010
Tom Harton
The largest tax credit deal in state history will fund the rehabilitation of 538 apartments in four complexes owned by the Indianapolis Housing Agency.
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Magazine names Fishers 'top affordable suburb'

March 5, 2010
 IBJ Staff
The Bloomberg BusinessWeek survey gives the town north of Indianapolis high grades for "livability, safety, education, and economic performance."
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Judge signs off on Hansen & Horn liquidation

March 4, 2010
Scott Olson
A court-appointed receiver can begin selling the assets of troubled home builder Hansen & Horn Group Inc., after a judge approved its liquidation on Wednesday.
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Mass Ave project works toward April approval

March 2, 2010
Tom Harton
Trail Side on Mass Ave would include 69 one-bedroom apartments and about 23,000 square feet of ground-level retail space.
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Restoration planned for landmark Old Centrum propertyRestricted Content

February 27, 2010
Cory Schouten
The Historic Landmarks Foundation of Indiana plans to acquire the Romanesque Revival former church and is considering moving its headquarters there.
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Redevelopment planned for site of former juvenile facilityRestricted Content

February 27, 2010
Cory Schouten
King Park Area Development Corp. is preparing to approach developers interested in submitting plans for the 1.8-acre site, the equivalent of about eight residential lots.
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Disagreement about parking delays project on Meridian Street

February 27, 2010
 IBJ Staff
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.
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Receiver: Insolvent Hansen & Horn should be liquidated

February 22, 2010
Scott Olson
The troubled home builder's $14.5 million in liabilities are twice as much as its assets, receiver tells Marion County judge, who takes the recommendation under advisement.
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Metro-area home sales plummet

February 22, 2010
January home sales in the nine-county Indianapolis area fell 16.5 percent from the same month last year, according to a report from Re/Max of Indiana. But the housing news wasn't all bad. The average price of a home in the area jumped 12.1 percent.
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Urban Land Institute chapter launches in IndianapolisRestricted Content

February 20, 2010
Cory Schouten
Chapter, heavily populated by developers, hopes to guide sustainable development.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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