A survey of developers suggests up to 3,438 new units could hit the rental market next year, which would be the highest total since 1987, when central Indiana gained about 4,500 units.
The $7.2 million project, to be financed with affordable-housing tax credits, involves retrofitting the three-story former Central Restaurant Products building to accommodate one- and two-bedroom apartments.
Renovation work finally has begun on the building at 16th and Pennsylvania streets. Developer Christopher Piazza found two
equity partners for the project because banks were unwilling to lend.
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.
A local real estate veteran who had planned to retire has instead jumped back into the game with the purchase of two vacant
downtown properties he plans to convert to market-rate apartments.
Charter Homes owner Jerry Jaquess fancies himself a white knight for King Park, a neighborhood once known mainly for its
rampant crime, boarded-up homes and vacant lots. But as he’s constructed a slew of homes and carriage houses there, the local
builder has stirred up several lawsuits, dozens of liens and persistent questions about whether his business is legit.
A locally based property management firm is struggling to find a buyer for its downtown apartment complexes, even as the city’s
rental market continues to thrive. The privately owned Zender Family Limited Partnership, which was founded 38 years ago,
placed its 18-property apartment portfolio up for sale in November.