Crunching the numbers: Hamilton County homebuilding activity leads region

June 11, 2013
Back to TopCommentsE-mailPrintBookmark and Share

Single-family building permits in Hamilton County are up 24 percent this year compared to the first five months of 2012, despite a slight drop in May.

Homebuilders filed 188 permits here in May, down 3 percent from the same period last year, according to data released Tuesday by the Builders Association of Greater Indianapolis.

Even so, the fast-growing county to Indianapolis' north had more than twice as much housing construction as western suburb Hendricks County, where 90 permits represented a 43-percent increase.

All told, single-family building permits rose 23 percent in the nine-county Indianapolis area in May, BAGI said. It was the 11th straight month of year-over-year increases.

Noblesville led Hamilton County permit filings in May, with 61. Fishers was next with 53, followed by Carmel with 40. Westfield had 26 permits filed.

Year-to-date filings in Hamilton County totaled 817, up from 659 last year.

Down the road in Boone County, single-family permits are up 34 percent for the year, to 214. Whitestown had the most filings in May, with 25. Zionsville was next with 19.

What do you make of the numbers? Any guesses on how long the growth spurt can last?

ADVERTISEMENT
  • It's the schools
    Quality of life, namely the schools in places such as Brownsburg, is the reason for Hendricks County's growth. Everyone except for the Brownsburg Town Council and its equally inept Redevlopment Commission knows and understands this fact.
  • Pent Up Demand + More
    I think there are two dynamics at work in Carmel. The first is that after a dip in housing prices and a shaky economy since '08 things are on enough of an upswing that there is a certain amount of pent-up demand. That said, I doubt many builders feel confident enough to build spec homes at Carmel prices....yet. So, if these homes being built are already spoken for then people have gotten bank-approved or other financing already lined up. In other words, they must have solid jobs. In the last year or two, Carmel has scored some major jobs announcements so besides the pent up demand, I think you're seeing new home permitting increase because people are moving here to be closer to their jobs.

Post a comment to this blog

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT
  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.

ADVERTISEMENT