Former GM site provides bounty of opportunity for developer
Ambrose Property Group is proposing a massive $550 million mixed-use project that would transform downtown’s western edge from afterthought to urban gem.
Apartments
Articles
City to consider $15.2M in bonds for downtown projects
The bonds would help finance development of a hotel complex on the site of Indianapolis’ oldest African-American church, as well as a five-story apartment and retail project near the base of Massachusetts Avenue.
$10M proposal adds to Broad Ripple apartment boom
The project, from local developer Zinkan & Barker Development Co., would feature up to 35 apartments and 7,000 square feet of ground-floor retail on the one-acre property now home to a billboard and small retail building on the east end of Broad Ripple Avenue.
City council acts to close loopholes in landlord registry system
The city of Indianapolis is hoping to get derelict property owners into shape with new changes to its landlord registry.
Real estate crowdfunding firm graduates to first apartment property
A local startup with about 100 investors is making bigger acquisitions by progressing from rental homes to apartments, starting with a complex in Garfield Park.
$135M CityWay expansion stokes apartment boom
Construction on the second phase of CityWay is expected to begin in early June, further transforming downtown by adding 400 more rentals to the already booming apartment market.
Greenwood mayor leads push to turn downtown into residential, retail hub
Mayor Mark Myers, a second-term Republican, hopes to take a page from the playbooks of Carmel and Fishers, which have drawn more residents downtown by creating a commercial and residential hub.
Bill pits affordable housing against property rights
Affordable housing advocates are worried that a bill lawmakers sent to Gov. Eric Holcomb will exacerbate what they say is a shortage of inexpensive options for Hoosier families.
Permits might be required for short-term home rentals
House Bill 1133, which would prevent local governments in Indiana from banning Airbnb-style businesses, would give municipalities the ability to require short-term rental hosts to pay for a permit in order to host guests.
Debut of $37M Coil to kick off Broad Ripple apartment flurry
The village is expected to add as many as 500 rental units in the next year or so. Businesses hope they’ll boost daytime traffic in the area traditionally known for its nightlife.
Future of east-side church, once slated for demolition, still in limbo
TWG Development’s plan to convert the century-old structure into senior housing units has hit a snag, as the project wasn’t awarded federal tax credits in the latest round of allocations.
Milhaus putting $450M apartment portfolio on market
Indianapolis-based developer Milhaus is marketing a massive package of multifamily properties that includes several high-profile developments in Indianapolis.
Indy housing agency’s development arm promotes new leader
Jennifer Green, an agency veteran who previously led the city’s efforts to develop Fall Creek Place, is the new president of Insight Development Corp.
Neighbors sue to block $23M College Avenue development
Three Meridian-Kessler residents have asked a judge to review whether the city’s Metropolitan Development Commission properly granted two zoning variances for the apartment-and-retail project.
$50M Penrose on Mass project to get underway following parcel sale
The project will include 236 apartments, 40,000 square feet of retail space and a 379-space parking structure.
Historic Martinsville buildings part of $8.4M senior-housing project
A redevelopment of the three buildings, led by Flaherty & Collins, will make way for 38 apartment units for residents 55 and older. The project pays homage to Martinville’s history as a mineral-springs hotbed.
Preservation commission holds off on decision for Chatham Arch project
The Indianapolis Historic Preservation Commission wants the developer of a proposed mixed-use project including condos, town houses and single-family dwellings to take another shot at addressing commissioners’ concerns.
Noblesville pushes to diversify housing
A housing analysis the city recently commissioned identified a gap between single-family homes and multifamily apartments–few townhomes, condos, cottages and duplexes in dense, walkable areas.
North-side apartments change hands in $70M-plus deal; $10M rehab begins
Local firm Birge & Held Asset Management bought the property on East 82nd Street and is starting to renovate all 740 units—a task expected to present some logistical challenges.
Carriage houses offer homeowners supplemental income, space for guests
Homeowners are looking to capitalize on the hot downtown housing market by creating rental units—and they no longer need to seek a variance to build them under new city zoning rules, cutting down on the time and red tape.