Developer saves Phillips Temple, converts it into apartments
Van Rooy Properties purchased the nearly century-old landmark last year and embarked on a $6 million project to bring 40 market-rate units to the site at 1226 Dr. Martin Luther King Jr. St
Rentals
Articles
Indianapolis Section 8 program to open waiting list next week
The Indianapolis Housing Agency hopes more landlords will participate in the program.
Ten years after housing’s peak, U.S. more of a renter nation
Renters accounted for all of the 8 million-plus net households the United States added in the past decade. Home ownership has dipped to 63.5 percent, near a 48-year low.
Developer plans $5.6M revamp, expansion of 16th Street apartments
Axia Urban has purchased the former Bon Air Apartments, between Meridian and Illinois streets, and is set to renovate the three structures, as well as build another.
Former real estate broker found guilty of forgery, theft
A jury convicted David Garden on 22 counts, including 11 counts of forgery and 10 counts of theft, for defrauding homeowners and renters.
Even with deluge of units, downtown apartment demand persists
Apartment occupancy downtown remains near a stellar 95 percent as tenants flood new projects, according to a panelist at IBJ's Commercial Real Estate and Construction Power Breakfast.
Americans waiting longer than ever to buy first homes
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.
Lender grants $10 million to affordable-housing projects
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.
Hamilton County’s residential boom leaves affordability behind
Only about 2 percent of the avalanche of residential units built in Hamilton County the last five years is dedicated to affordable housing.
Entrepreneurs hope to build residential real estate empire through crowdfunding
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.
Indy officials work to strengthen rental-property inspection bill
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.
Study: Downtown can sustain huge apartment boom
About 3,500 rental units are expected to be built downtown by 2017, adding to 4,700 already on the market. But the analysis says there’s no need to worry about overbuilding.
Skywalk adds architectural element to senior-housing project
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 apartment construction soars skyward
The downtown rental market is booming, but is a slowdown coming?
Investor home purchases raise rental concerns
Thousands of houses in Indianapolis and surrounding counties have been bought by investors in the past year, driving up prices and fueling residents' worries about what the future holds for their neighborhoods.
City code enforcement rethinks rental housing strategy
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.
Noblesville OKs $40 million upscale apartment project
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.
Local housing projects get $3.4M boost from tax credits
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.
One Mass Ave project starts; another one is in limbo
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.
Package of 16 apartment complexes back on the market
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.