Indiana awards communities $51M in housing infrastructure boost
About a dozen Hoosier communities will split $51 million in state funding for public infrastructure set to support construction of 2,400 homes.
Residential Real Estate
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Analysis finds growing gap in Indiana’s housing affordability
The findings, from an annual report jointly published by the National Low Income Housing Coalition and Prosperity Indiana concluded that Indiana dropped from 43rd to 34th in terms of affordability between 2021 and 2024.
Owner of 27-story downtown apartment tower faces $101M foreclosure lawsuit
Since it was completed in 2018 at a cost of $120 million, the tower has become one of the city’s priciest residential properties, with an average rent of $2,365 per month, or $2.58 per square foot.
Applications for new homes rise for 11th straight month in Indy area
However, the central Indiana homebuilding market has lost much of the velocity that characterized the first couple of months of 2024.
Central Indiana home sales sink again amid higher prices
Closed existing-home sales in the 16-county area have fallen in 27 of the last 28 months.
Epcon Communities planning 80-home development in Westfield
The Westfield City Council heard plans for the proposed 36-acre Courtyards of Cielo Ranch and also approved plans for a 13-acre, age-restricted community called Vita of Westfield.
Local developer plans low-income senior project at former site of Ritz Theatre
DTM Real Estate is seeking low-income housing tax credits for its planned project at the northwest corner of 34th and Illinois streets, which it intends to call The Ritz on Illinois as an homage to the 1920s movie house.
Applications for new homes rise for 10th straight month in central Indiana
For the first four months of 2024, permit filings were up 44% compared with the same period of 2023.
Stout’s Shoes, Japanese steakhouse among businesses planning openings at Carmel development
In addition to a shoe store, steakhouse, med spa and brewery taproom, The Signature will have eight owner-occupied condominiums, 295 luxury apartments and a 374-space public parking garage.
Central Indiana snaps 26-month streak of falling home sales
After more than two years of declining existing-home sales, central Indiana finally saw a positive month in April.
Spending on home renovations slows, but remodeling costs aren’t easing
Spending on renovations and repairs fell for the first time in more than a decade in the first quarter.
Carmel-based Pyatt Builders acquired by national homebuilder
Taylor Morrison, one of the nation’s largest home builders, also acquired about 1,500 lots around the Indianapolis metropolitan area as part of the deal.
Timeline firming up for converting Gold Building to apartments as construction costs climb
Last month, city officials and the two developers reached a tentative deal for addressing key elements of the overhaul of downtown’s City Market block, including reskinning the Gold Building and renovating the adjacent Ohio Street parking garage.
U.S. renters see chance of owning a home at record low, survey shows
Amid elevated prices, high mortgage rates and difficulty saving money for a down payment, only about four in 10 renters think that they will be able to buy a home.
Redfin agrees to pay $9.25M to settle real estate commission suits
Redfin is the latest big brokerage to agree to settlement terms. All told, the industry has now agreed to pay more than $950 million to make the lawsuits go away.
Proposed Fishers development features million-dollar condos, town houses, commercial space
Fishers-based North Acre Properties LLP plans to build 75 town houses, 45 condos and 20,000 square feet in the Hamilton Proper Planned Unit Development.
IBJ Podcast: Pete the Planner on what your career earnings should tell you about retirement savings
In the 300th episode of the IBJ Podcast, Pete Dunn also discusses the role that your housing decisions—good and bad—play in retirement readiness.
Applications for new homes rise for ninth straight month in central Indiana
The Indianapolis-area homebuilding industry continued to see rising interest in new houses in March, with applications for new-home construction increasing 18.5% on a year-over-year basis.
Six-story apartment building planned on site across from Lucas Oil Stadium
Indianapolis-based TWG says it has all four of the parcels comprising the site under contract, pending city approval to rezone them from the current I-2 industrial classification to a more apartment-friendly designation.
Sales of existing homes in central Indiana slip for 26th straight month
The exceptions to the trend were Boone and Hendricks counties, where closed sales increased 24.1% and 9.8% over March 2023.