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.
The Commerce Department said Wednesday that construction of new homes and apartments fell 10.6 percent in October, to the
lowest level since April.
The number of building permits issued in the nine-county Indianapolis area fell 20 percent in September from the same time
last year, marking 23 consecutive months of declines.
Indiana Lt. Gov. Becky Skillman plans to announce the first awards of $164 million in federal stimulus money to build low-
and moderate-income housing across the state.
Buyers in Seattle, Milwaukee and even Bloomington have snapped up new cottage homes in developments that
turn the McMansion trend on its dormer-decorated head. But will Indianapolis buyers have a similar appetite
for the tiny energy-efficient homes clustered around community greens? A local developer is betting they