Building permits filed for new homes in the nine-county Indianapolis area rose just 2.6 percent in 2010, to 3,720. That’s just 95 more homes than in 2009—the worst year for local home construction in more than a quarter century.
Locally, building permits were up 17 percent in the nine-county area, from 222 in November 2009 to 259 in November 2010.
Brazen violations of city design guidelines and state building codes by the developer of the Di Rimini apartments cast a spotlight on what is essentially an honor system of regulation for developers once they win approval for their projects.
The Carmel-based company backed off earlier predictions after a mid-year slow-down that could affect its sales.
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.
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.
Construction activity surged in April by the largest amount in nearly a decade. The unexpected gains could mean the hardest-hit
sector of the economy is starting to recover.
Renovation of apartment building owned by the Indianapolis Housing Agency will have to wait, after it failed to receive the
necessary federal backing to fund it. Three other IHA projects, including Caravelle Commons, will move forward, however.
The Carmel-based company said its decision to consolidate machining activities at a plant in Tennessee is driven by weak retail
sales and a sluggish housing market.
Farmers who might have worried about losing their livelihood
to new homes or retail have gotten a little breather.
Central Indiana’s housing market is on track to notch gains in the number of homes sold and the average sales price in 2010.
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.