Residential Real Estate: Marketplace Stats for March 27, 2020
Sales ticked up in February—but that was before the coronavirus all but shut down the local economy.
Residential Real Estate
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Indianapolis-area homebuilders see huge surge in applications
Applications for home construction permits soared 34% in the Indianapolis area in February. The flurry of new applications came before the first cases of COVID-19 hit Indiana.
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Lawmakers continue fight over landlord-tenant legislation
Under a change made Thursday, a controversial provision to preempt local ordinances that deal with landlord-tenant rights would take effect immediately instead of July 1.
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Onyx+East continues near-north-side spree, planning 37 town houses on Monon Trail
Monon Roots is the third Onyx+East project on the near-north side to seek city approval in recent months. It would feature homes ranging from $280,000 to $420,000.
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Indianapolis-area homebuilders start 2020 with January surge
Applications for home construction permits in the Indianapolis area rose in January, marking the sixth monthly increase in the past seven months.
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Articles
Get off the couch! Setting up your home office well is key to success in remote working.
The rush to set up home offices has been traumatic for some. However, experts maintain that, with the right furnishings, equipment and software, it can be pulled off with minimal—or at least only a modicum—of frustration.
Home profile: Old World style in a home built for today
Donald and Leslie Bolinger’s vaguely Old World-looking Carmel home seems like it belongs in one of Indianapolis’ historic neighborhoods.
Apartments, homes, hotel in works at Fort Harrison site
Three housing and hotel projects are in the works at the former Fort Benjamin Harrison site in Lawrence, and planners hope these projects will accelerate efforts to redevelop part of the former U.S. Army base.
U.S. home construction dips 3.6% in January
The U.S. Commerce Department reported that builders started construction on 1.57 million homes, a decline of 3.6% from 1.63 million units in December. That had been the highest point since late 2006 at the peak of the housing boom of the last decade.
City moves ahead with tenant rights ordinances while Legislature debates regulation
The city of Indianapolis is charging ahead with a plan to protect tenants from bad landlords despite a bill moving through the Indiana General Assembly that would limit the city’s authority on the issue.
Sales of existing homes surge in central Indiana amid lower rates
Closed sales in central Indiana have risen on a year-over-year basis in four of the last five months after falling in seven of the previous eight months.
Pulte Group seeks OK for empty-nester neighborhood in Fishers
Pulte Homes of Indiana LLC is seeking zoning approval to build 52 single-family homes not far from Ironwood Golf Club.
Council committee OKs Hogsett’s tenant-protection initiative
The Public Safety and Criminal Justice Committee on Wednesday night approved the proposals 7-3, with Republicans on the committee voting against them.
400-unit apartment property in Castleton sells for $36.5M
The sale of the 37-year-old complex near Interstate 69 and 82nd Street gives Muesing Management 19 properties in the Indianapolis area.
Henke Development Group proposes massive real estate project in Lebanon
Westfield-based Henke Development Group is seeking approval for a 2,000-acre master-planned community with retail stores, apartments, an industrial park, a golf course and thousands of residential units along Interstate 65.
Developer plans 384-unit apartment complex as part of 137-acre south-side project
Locally-based Sheehan Development is seeking approval to rezone land on the northwest corner of South Arlington Avenue and East County Line Road—directly east of Interstate 65—for a project with multifamily, commercial and light industrial uses.
City awarded record federal funding for homeless initiatives
The city of Indianapolis on Wednesday was awarded $6.3 million in grants from the U.S. Department of Housing and Urban Development for initiatives and organizations that aim to eliminate homelessness.
Central Indiana existing-home sales finish 2019 with surge
Sales of existing single-family homes rose in three of the last four months of 2019 in central Indiana, capping off a sluggish year for transactions amid rising prices and low inventories.
Indianapolis-area homebuilders end 2019 with second-half surge
A big December was not quite enough to make last year’s construction pace exceed 2018’s. It was the first year since 2011 that fewer single-family building permits were filed in the area than in the previous year.
Hogsett unveils tenant protection initiative, aims to cut down evictions
Under Hogsett’s proposed initiative, $250,000 of new funding would be allocated toward increasing resources for tenants. The city will work in partnership with Indiana Legal Services to provide free civil legal assistance to eligible low-income residents.
Onyx+East plans $6.5M town house project on 10th Street, but faces skepticism from city
The Indianapolis-based developer hopes to build 21 units ranging in price from $275,000 to $365,000 over several vacant parcels, but city staff has recommended denial.
Area existing-home sales drop on rising prices, low inventory
Sales of existing single-family homes decreased 4.5% in central Indiana in November—ending a two-month streak of increases.
Onyx+East, storage company plan new development in Lockerbie
Onyx+East has partnered with Extra Space Storage to redevelop the block at the southeast corner of North and Fulton streets with new residences and a six-story storage facility. The project will require the demolition a nearly century-old building.
Plan to house homeless off to slow start
It’s been more than two years since the city and state chose four developers to build 500 affordable housing units—including some reserved for people experiencing homelessness.