Average long-term mortgage rates rise again, reaching their highest level in 4 weeks
The average rate on a 30-year mortgage rose to 6.66% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.33%.
Real Estate
Articles
Whitestown junkyard redevelopment proposal to face test
Developer Milhaus’ latest plan for the first phase of Maurer Commons details a $64 million mixed-use development with a 125-room hotel, a 228-unit apartment complex and 75 for-rent town houses. Residents want a more recreation-focused plan.
Downtown apartments among major Noblesville projects expected to be completed in 2024
Construction on several major real estate development projects is slated be completed this year in Noblesville, while visible progress should be made on others.
Snug bar is Irvington’s new cozy castle of Irish whiskey
Irish whiskey is represented in more than 90 bottles of different brands displayed at Snug, which opens Tuesday.
IBJ’s 10 most-read stories of 2023 include reports about ‘Good Bones,’ Circle Centre
Two stories about Two Chicks and a Hammer—the company behind “Good Bones”—made the list: one about the house-flipping show ending after eight seasons and the other about the closing of its Bates-Hendricks shop.
Mark Cuban says changing NBA landscape led to sale of Mavs to casino families
The high-profile billionaire, who graduated from Indiana University’s Kelley School of Business, will keep a 27% stake in the NBA franchise and maintain control of basketball operations.
Judge orders asset freeze for shopping-center owner accused in SEC fraud case
A federal judge in Arizona ordered a freeze on the assets of Jonathan Larmore and his company, ArciTerra, whose holdings include seven Indianapolis-area shopping centers and scores of other properties around the country.
Human remains found at Eleven Park construction site
Developer Keystone Group has discovered “fragments of human remains” at the construction site, on property that was mostly occupied by the city’s first public cemetery in the 1800s.
Summons for Santa Claus: The story behind the Indiana Supreme Court case
Before Santa Claus, Indiana, became a well-known destination for amusement park lovers, two entrepreneurs engaged in a long legal battle that was eventually decided by the state’s highest court.
SEC accuses retail centers’ owner of fraud
The founder of an Arizona real estate company with scores of retail centers across the country—including seven in the Indianapolis area with a total of nearly 500,000 square feet—is facing federal allegations that he committed a $35 million fraud.
INDOT gifting biodiverse 10-acre property to Central Indiana Land Trust
The piece of land in Hancock County known as Founders Fen is home to numerous indigenous and rare plants, including the state-endangered Canadian burnet along with the Indian plantain, queen of the prairie and the white turtlehead.
IBJ Podcast: ‘We’re survivors’—how the founders of Clancy’s Hamburgers and Grindstone Charley’s evolved to The Fountain Room
The story of Clancy’s Hospitality in many ways is the story of the central Indiana restaurant industry.
IPS moves to lease School 102 to not-for-profit amid ongoing litigation
Banned from selling any of its closed school buildings through a court order, Indianapolis Public Schools will instead lease Francis Bellamy School 102 to a local not-for-profit that serves youth.
Nordstrom Rack store planned at Noblesville’s Hamilton Town Center
Nordstrom Rack is the off-price retail division of Nordstrom, and carries merchandise from Nordstrom stores and Nordstrom.com at discounted prices.
Lilly Endowment awards $146M in grants to 6 Indiana schools for development projects
The grants range from $5.8 million to $35 million each, with Ball State University in Muncie landing the largest grant.
Sales of existing homes in central Indiana see steep November decline
Closed sales in the area have fallen for 22 straight months on a year-over-year basis, but prices are still on the rise.
Oldest Catholic church in Indy plans $2.7M parish center downtown
Officials with St. John the Evangelist want to build the 2,800-square-foot facility as part of a larger $5.5 million renovation that started in 2021. They hope to finish in time for the huge National Eucharistic Congress planned for Indianapolis in July.
Kroger seeks to expand store at busy intersection in Noblesville
The plan calls for expanding the 75,000-square-foot Kroger store by 50,000 square feet, constructing 75,000 square feet of additional retail space, and adding a Kroger fuel station and retail buildings along 146th Street.
City seeks to rezone land on southeast side for ‘low barrier’ homeless shelter
The city wants to build a “housing hub” that will include the city’s first low-barrier homeless shelter on 11 parcels at the intersection of Shelby and East Georgia streets.
Great American Songbook Foundation planning museum north of Palladium
The organization has entered into a preliminary agreement with the city of Carmel to locate the museum on 3.7 acres at the northeast corner of City Center Drive and 3rd Avenue Southwest.