Indianapolis-area experts see bright spots amid ongoing real estate weakness
Health care shows signs of life, and multi-family buildings continue to hold their own, experts said during a recent IBJ Power Breakfast.
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Estridge scales back Symphony development in Westfield
The Estridge Cos. said it is reducing Symphony from a planned 1,400 acres to a size that will closer rival the Carmel-based home builder’s 436-acre Centennial development, also in Westfield.
Local building permits down again in August
The number of building permits filed in the nine-county metropolitan area dropped by 18 percent in August from the same time a year ago, falling from 354 to 290. The drop marks the third consecutive month permits have fallen.
Home construction jumps nationally
Housing starts are up 25 percent from their bottom in April 2009. But they remain 74 percent below their peak in January 2006.
Bank suing Estridge Cos. for securities fraud
Bank of Indiana files complaint against the home builder, alleging it failed to repay a $1 million investment due June 30. The complaint further accuses law firm Krieg DeVault LLP of malpractice and breach of fiduciary duty.
Estridge drops Westfield sports complex, still plans stadium
The Estridge Cos. has withdrawn a proposal to build a massive youth sports complex in its master-planned Symphony development in Westfield.
Westfield’s proposed Symphony development under review
The Westfield planning commission has asked city employees to further review the 1,400-acre mixed-use project that could include
thousands of homes, shops, a YMCA and a baseball stadium.
Trustee asks for Hansen & Horn bankruptcy to be dismissed
Beleaguered home builder doesn’t appear to have funds available to pay an attorney to prepare
necessary paperwork for Chapter 7 liquidation, trustee says in court filing.
Subcontractors come to Estridge’s aid with $10M investment
Estridge Cos.’ subcontractors have invested $10 million into the firm led by COO Matt Cohoat and CEO Paul Estridge Jr.—an
infusion that paves the way for them to proceed with
a massive development in Westfield.
Potterhill Homes enters Indianapolis market
A Cincinnati-based homebuilder’s expansion into Indianapolis marks the second time in six months a builder from the
Queen City has carved out space in the metropolitan area.
Residential building activity levels off after surge
The number of building permits filed in the nine-county metropolitan area has been flat the past two months following a flurry
of activity leading up to the expiration of federal home-buying tax credits.
Home construction sinks, building permits down
May saw a 17-percent decline in the single-family home market, which had benefited earlier in the year from federal tax credits.
It was the largest monthly drop in single-family construction since January 1991.
New home construction rises, but permits sink
A drop in building permits, a gauge of future activity, along with the expiration of a government tax credit for home purchases
suggest the construction gains could fade soon.
Lender wants Hansen & Horn receivership terminated
Salin Bank argues that it wants to "control its own destiny" by selling 49 lots the homebuilder defaulted on rather
than have court-appointed receiver coordinate the sale.
Tax-break deadline spurs spec homes in Parade
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.
Construction spending falls again
Construction spending fell for a third straight month in January as a slight rebound in housing was not enough to offset widespread
weakness in a number of commercial areas.
Receiver: Insolvent Hansen & Horn should be liquidated
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.
Cincinnati-area builder Fischer expands to Indianapolis
Home builder hopes to sell as many as 200 houses in region this year. Fischer, which entered the Columbus, Ohio,
market in 2008 after buying subdivisions from retreating builders, is using the same strategy to establish a foothold in Carmel,
Westfield, Zionsville and Avon.
Housing meltdown claims at least one homebuilder
Two more local homebuilders fell victim in 2009 to the prolonged meltdown of the housing market. Carmel-based
C.P. Morgan Communities LP closed in February, and Indianapolis-based Hansen & Horn Group Inc. is teetering on the edge
of bankruptcy.
Giant Heartland Crossing housing development hangs on
Short sales and foreclosures in this 2,200-unit development began cropping up several years ago and continue today.