Area homebuilders see 8th straight month of falling construction permits
Rising mortgage rates, supply-chain issues, increasing costs and limited lot availability are hampering the market, according to industry experts.
Construction
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Riley Towers owner replacing every brick as part of $7M project
The facade-replacement project is expected to resolve to longstanding water-infiltration issues at the 30-story towers.
Wanted: 7,000 construction workers for Ohio chip plants
Ohio’s largest-ever economic development project comes with a big employment challenge: how to find thousands of construction workers in an already booming building environment when there’s also a national shortage of people working in the trades.
IBJ Podcast: How do you solve a problem like Monument Circle?
A circle seems like a simple shape, but this is a very complex puzzle for city officials. For this week’s edition of the IBJ Podcast, Dan Parker, director of the Indianapolis Department of Public Works, talks with host Mason King about the direction the city is taking and what roadblocks could be in the way.
$188 million Purple Line moving toward 2024 completion
But there’s still a lot of work to do. Building of passenger stations has yet to begin; all progress so far has laid the groundwork for future construction.
City eyes street rebuild on Monument Circle
Officials are working on finding the $60 million, which will likely include federal funding, to pay for it.
Runway rebuild project takes off at Indianapolis International Airport
Indianapolis International Airport is undergoing its most ambitious project since the completion of the new Midfield Terminal in 2008—a $190 million rebuild of one of its two main runways.
Carmel’s City Center enters final stage of construction
Two mixed-use buildings—the Wren and Windsor—under construction this summer are the final pieces of the $300 million development that created a new core for Carmel.
Construction industry looks to youth to fix labor shortage
Experts predict the state will need more than 275,000 additional workers by 2026.
Fishers prepares for City Hall demolition, new complex
Municipal employees will leave City Hall on Friday for the final time. The 31-year-old building will be demolished this fall so construction can begin on the $22.8 million Fishers Arts & Municipal Complex.
City presents concepts for Henry Street bridge connecting Elanco, downtown
The Henry Street bridge would accommodate both cars and pedestrians and is a key component in the city’s infrastructure-heavy incentive package to bring Greenfield-based Elanco downtown.
IU Health reevaluating scope of $2.68B downtown hospital campus
The Indianapolis-based hospital system said in financial filing Thursday that the review comes in light of higher-than expected patient demand during the pandemic, inflation and sustainability goals.
Noblesville Mexican eatery closing after 25 years, citing road-expansion project
El Camino Real Restaurant in Noblesville plans to go out of business at the end of the month ahead of the Reimagine Pleasant Street expansion project, the owners announced Monday in a social media post.
Area homebuilders see 6th straight month of falling construction permits
Applications for newly built houses are continuing to trail last year’s pace in central Indiana, but homebuilders remain busy, according to the Builders Association of Greater Indianapolis.
Airport moving ahead on $76M parking garage expansion
About 1,000 of the spaces in the new facility at Indianapolis International Airport will be used by car rental companies while the remainder will be designated for daily or hourly parking.
Inflation weighs heavily on construction costs
A recent report from the Associated General Contractors of America states that, from April 2021 through the first quarter of 2022, the price of nonresidential construction components, or inputs, has risen 21%. Among those inputs, diesel fuel has jumped 86%; plastics, 30%; and insulation products, 19.6%.
Boone County plans $59.1M jail expansion
The council approved the project on June 14 by a 4-3 vote following months of debate between the council and the Boone County Commissioners.
Noblesville City Council rejects plan for gravel pit near Potter’s Bridge Park
Noblesville city councilors voted 7-2 against the proposal by Beaver Materials, which purchased 50 acres of farmland adjacent to the 66-acre park with hopes of removing gravel from the property.
Inflation hits state capital, infrastructure projects
Ever-increasing prices at the pump and grocery store checkout line aren’t the only places where Hoosiers can see the impact of inflation—state building projects are also feeling the budgetary strain.
Area homebuilders see 5th straight month of falling permits
Builders are coming off their busiest year since 2005, but single-family building permits have fallen on a year-over-year basis in every month of 2022.