Large Broad Ripple apartment complex slated for $10M renovation
New owner of property bought out of foreclosure seeks city revenue bonds, state low-income housing tax credits.
Rentals
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Firm pitching Super Bowl rentals in Indy ordered to pay up
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.
Milhaus buys 55 acres on Keystone to build 300 apartments
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.
Penn Arts owner buys historic apartment building
The Piccadilly, at 16th and Pennsylvania streets, will undergo a historically sensitive renovation of its 58 units.
Apartment convenience luring would-be homebuyers
Developers are catering to nontraditional renters by building units resembling upscale condos.
Hundreds of houses available as Super Bowl rentals
Indianapolis-area homeowners are looking to cash in by opening up their homes to visitors for daily prices ranging from about $700 to $9,000, but demand may not come until participants in the big game are settled.
Apartment project planned for south end of Monon
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
Court case might roil not-for-profit tax rules
A Bartholomew County not-for-profit affordable housing development group is preparing to fight in Indiana Tax Court a denial of its property-tax exemption. The denial has put the organization
$200,000 in debt and its rental homes in danger of tax foreclosure.
New apartments in 2012 on track for a 25-year high
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.
Hot apartment market sees robust sales
Gene B. Glick Co.’s purchase of the 240-unit Thompson Village apartment complex on the south side is the most recent deal in a year full of apartment transactions.
Builders offer new twist on move-up incentive
Instead of offering to help would-be buyers of new houses sell their old homes, Marketplace is offering to become a rental property manager for as long as six years.
Whitsett proposes 86-unit downtown apartment project
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.
Report: Local apartment market strong in 2010
Occupancy in the Indianapolis metro area grew last year to 90.8 percent, according to the latest annual market report compiled by apartment brokerage Tikijian Associates. The downtown market, in particular, boasted strong numbers.
Work begins on Penn Arts apartment, retail project
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.
Disagreement about parking delays project on Meridian Street
A local developer’s plans to renovate a long-vacant and graffiti-covered 1915 building have hit a snag.
New owner to rehab two century-old apartment buildings
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 builder draws scrutiny for odd sales claims, multiple liens
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.
Zender trying to sell 18 apartment complexes for about $40 million
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.