The share of the U.S. population who own homes has slid to a 48-year low. The typical first-timer now rents for six years before buying a home, up from 2.6 years in the early 1970s.
The Federal Home Loan Bank of Indianapolis, commonly known as a private-sector bank for banks, announced July 17 that it awarded $10 million in affordable-housing grants in Indiana and Michigan, including two $500,000 grants for projects in Indianapolis.
Only about 2 percent of the avalanche of residential units built in Hamilton County the last five years is dedicated to affordable housing.
Jacob Blackett and Sterling White buy rental houses. Through their 6-month-old firm, Holdfolio, the 24-year-olds plan to bundle them and sell investors equity stakes in the portfolio through a Web-based platform.
A proposal under consideration by the Legislature would curb rental-property inspection programs, but local officials worked with its author to let cities set up landlord registries.
Two four-story structures, at the southwest and northwest corners of 30th and Clifton streets, will be built as part of a $10.7 million project that will include 57 units linked by an elevated walkway.
Indianapolis is reconsidering plans for cracking down on negligent landlords through a rental-housing registry after the Legislature enacted a one-year moratorium on new fees.
The vast multifamily project in the city’s massive Corporate Campus would effectively close out such development there. City officials hope it will attract more businesses.
The Indianapolis developments include new apartments for seniors, the developmentally disabled and homeless veterans, using sites such as Fort Harrison and the former Central State grounds.
Insight Development has begun building an $11.5 million, 61-unit apartment project at Massachusetts Avenue and East and North streets. But the fate of the second phase is up in the air because its financing had been tied to a project Insight and Flaherty & Collins Properties had hoped to develop across Mass Ave at the site of the Indianapolis Fire Department headquarters.
The local Zender Family Limited Partnership again is attempting to sell the buildings after failing to attract a suitable buyer four years ago. The family is expecting better results this time because it’s willing to break up the portfolio and sell the buildings individually.
New owner of property bought out of foreclosure seeks city revenue bonds, state low-income housing tax credits.
An Indianapolis judge has ordered a Phoenix-based home rental company to pay nearly $218,000 for not providing promised services before the Super Bowl last February.
One of the most conspicuous local remnants of the condo crash—an unfinished $150 million South Carolina-themed community near Keystone at the Crossing—could finally be completed, as apartments.