Chicago-based William Management expects to spend at least $14 million to redevelop the former, century-old school building and build a second structure, with the buildings totaling 70 apartments.
The amount of time homes are spending on the market in the Indianapolis area is soaring compared with a year ago, but median sales prices are still on the rise.
An Ohio-based firm plans to seek tax credits in its effort to develop dozens of apartments and townhouses on a seven-acre tract of land on the western edge of the Central State Hospital campus in Indianapolis.
Plans for the Wild Air development call for 399 single-family houses and townhouses, as well as 300 apartments.
The owner also wants the city to vacate its right to an alley between the properties, which he says has become a “safe haven for crime and inappropriate and lewd behavior.”
The Indianapolis area continued to see a slump in residential construction last month despite a big jump in single-family building permits in Marion County.
The proposal calls for Spring Creek to be divided into four areas that include 170 single-family houses, 130 duplex units, 100 townhouses and 25 acres of commercial space.
Homes are spending much more time on the market than they did a year ago, but median prices are still on the rise.
Plans call for Promenade Trails to include 151 apartments and 59 for-rent cottages for people ages 55 and older. The first cottage residents are expected to begin moving in later this year.
Meridian Enclave would consist of 16 townhouses spread across four buildings all in the same block, southeast of the intersection of Sycamore and Charles streets. In addition, the developer plans to rehabilitate two adjacent homes.
The first in a series of demolitions began at the 20-acre site near East 42nd Street and Post Road on Friday. Over the next year and a half, the city plans to acquire more than 150 parcels and relocate residents.
Demand for new houses in central Indiana continued to lag last year’s pace in March, but longtime housing hotbed Hamilton County broke out of its recent slump.
The court seems likely to give a 94-year-old woman another day in court to try to recoup some money after the county sold her condominium over a small unpaid tax bill and then kept all of the $40,000 proceeds.
Called Allison Pointe, the project is designated for a 10.5-acre undeveloped parcel in a small commercial park along Allison Lake, a manmade body of water between 82nd Street and I-465.
The Plaza at Central Greens project will comprise five buildings, including three apartment structures with 117 units, an amenity center and a retail building.
The IndyRent application will reopen Thursday, April 27, with some new changes to the requirements and application process.
The 109-acre Flat Fork development would be divided into eastern and western parcels with 96 lots on 46 acres in one section and 124 lots on 59 acres in the other.
The median sales price in the 16-county central Indiana area for the first quarter of this year was $275,000, up 7.9% from $254,000 in the same period of 2022.
Paintings and furniture from the former Indianapolis estate of late businesswoman Christel DeHaan will be offered at three separate auctions over the next six weeks, according to Chicago-based auction house Hindman. The estate sold last year for a state record $14.5 million.
Farmington Hills, Michigan-based Schafer Development LLC is seeking city approval to rezone the land. Pulte Homes of Indiana LLC would be the builder for the 14-acre development.
