Meanwhile, borrowing costs on 15-year fixed-rate mortgages — which are often sought by borrowers looking to refinance a home loan — fell slightly this week.
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The projects, Trace Commons and The Gateway Lantern Commons, both received unanimous approval for their respective incentive requests — up to $13.3 million for Trace and up to $7.2 million for The Gateway.
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Borrowing costs on 15-year fixed-rate mortgages, often sought by borrowers refinancing a home loan, also rose this week.
Hamilton County saw a huge jump in permit filings, helping offset a down month for Marion and Hendricks counties.
The loans come from the Indiana Residential Infrastructure Fund — a revolving-loan fund created by statute three years ago to support housing development through low-interest municipal loans.
Closed sales during the first half of the year are up 3.7% in central Indiana compared with those in the first six months of 2025.
Sherman Lofts would span about 2.5 acres and consist entirely of units for individuals and families making up to 60% of the area’s median income.
First-time buyers accounted for 33% of home purchases last month, down from 35% in May and up from 30% in June last year.
The House of Tomorrow debuted at the 1933 Chicago World’s Fair before being moved to the Indiana Dunes along Lake Michigan.
Last month, the City-County Council approved a tax incentive deal for the development that could save the owner an estimated $3.7 million.
Despite back-to-back monthly declines, the central Indiana market remains only slightly behind last year’s pace in 2026.
The measure would bar institutional investors from buying more than 350 single-family homes.
The tight financing market slowed plans that first came to light in early 2024. Construction could take another two years.
Sales of existing homes in central Indiana shot up in May, the second straight month of rising sales, according to the latest data from the MIBOR Realtor Association.
In an up-and-down year so far, single-family building permit filings in the Indianapolis area are still slightly ahead of 2025’s pace.
Winslow Hills will bring about 200 executive-style estate homes, while Rollingwood will bring 96 ranch and two-story homes.
Opponents say the rule change could reverse decades of lending protections and open the door to discrimination against Black people, Latinos and other minorities.
Overall Gen Zers, which the survey defines as those born between 1999 and 2011, only made up 4% of all homebuyers during the survey period.
The median sales price for a home sold in the area in April rose 1.1%, to $316,000, compared with $310,000 in April 2025.
The site, a narrow stretch of green space over 3.1 acres, has been owned by Indiana Farm Bureau since the 1980s.
Washington, D.C.-based Level 2 Development LLC plans to develop the $80 million project on 16.5 acres along State Road 32.
The U.S. housing market has been in a slump since 2022, when mortgage rates began to climb from pandemic-era lows.
