New apartments in 2012 on track for a 25-year high
A survey of developers suggests up to 3,438 new units could hit the rental market next year, which would be the highest total since 1987, when central Indiana gained about 4,500 units.
Apartments
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Developer plans $54 million in new apartment projects
A local developer plans to invest more than $54 million to build apartment communities adjacent to the Rivers Edge shopping center in Indianapolis and Metropolis in Plainfield.
Bush Stadium gets last hurrah
City leaders and economic development officials planned to pay tribute Oct. 28 to Bush Stadium’s historical significance before work begins to convert the venue into loft apartments.
Apartments, retail planned for Virginia Ave. corridor
Call it Extreme Makeover: Holy Rosary. Just about every building and corner along a four-block stretch of Virginia Avenue in this historic neighborhood southeast of downtown is under construction or will be soon.
Developer proposes $22M project for Keystone Towers site
The Whitsett Group LLC’s plans call for a $22 million project that would include nearly 140 apartments and a retail component on the property where Keystone Towers stood. The company submitted the lone bid to the city to redevelop the site.
Commission approves demolition for Indy East Motel
The Indianapolis Historic Preservation Commission unanimously approved the demolition of the former motel at 5585 E. Washington St.—with a few conditions. Developers plan an $8.7 million project for the site.
Developer zeroes in on troubled Irvington site
A developer that wants to replace a vacant Irvington motel with an $8.7 million apartment building could get permission as early as next week to clear the site for redevelopment.
Multi-family housing project slated for Monon Trail
King Park Area Development Corp. is partnering with an Indianapolis developer on an $8.7 million residential project to improve a blighted parcel along the trail.
Owner of East Market Street buildings eyes apartment conversion
Crown Property Group is issuing a request for proposals for two East Market Street buildings that now are used for office space.
Hot apartment market sees robust sales
Gene B. Glick Co.’s purchase of the 240-unit Thompson Village apartment complex on the south side is the most recent deal in a year full of apartment transactions.
Developer rolls out $40M plan for Keystone site
A local developer has acquired the northwest corner of 86th Street and Keystone Avenue and is working on plans for a $40 million apartment and retail project.
Developer plans $27M project in Lockerbie
The Whitsett Group wants to build 190 affordable and market-rate apartments, 44,000 square feet of retail and office space, and more than 300 mostly underground parking spaces on a prime Lockerbie parcel.
Not-for-profit building affordable housing in Brownsburg
Sycamore Services Inc., which serves people with disabilities, has closed on $8 million in financing to build a 72-unit apartment community in Brownsburg.
Senior housing project replacing retail center
A run-down former retail plaza along Lafayette Road south of 30th Street will be torn down to make way for a senior housing development.
Bush Stadium rehab is Watson’s latest creative project
Longtime Indianapolis developer launches spirited attempt to save baseball palace.
Local developer ready to start $18M project
Indianapolis-based Buckingham Cos. is expected to start construction this summer on an $18 million, 146-unit apartment building in downtown Columbus.
Quail Run Apartments in Zionsville changes hands
Richmond, Va.-based McCann Realty Partners LLC bought the 166-unit complex with a $9.25 million loan. The sale marks the second time Quail Run has changed ownership in the past two years.
Housing agency breaking ground on $30M Lugar Tower project
The project includes renovations to the 15-story apartment building in downtown Indianapolis, as well as the construction of two mixed-income buildings containing a total of 74 units at its base.
16 Park project helping to transform Indianapolis neighborhood
The first building of a new complex on near-north side is set to be completed in August
$100M ‘Bridges’ project in Carmel wins approval
A proposal for a roughly $100 million mix of retail, office and apartments along Springmill Road south of 116th Street was OK’d Monday night by the Carmel City Council after numerous concessions.