The bonds and tax credits provided through the Indiana Housing and Community Development Authority are used to incentivize private developers to fund the acquisition, rehabilitation and construction of affordable housing communities.
Indianapolis officials said the agreement announced Thursday is expected to give the city more control of the crime-plagued housing complex.
Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2007 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy.
Rising mortgage rates, supply-chain issues, increasing costs and limited lot availability are hampering the market, according to industry experts.
The price was the highest ever paid for a private estate in Indiana history, according to listing brokerage Encore Sotheby’s International Realty.
Rising interest rates—in part a result of the Federal Reserve’s aggressive push to tamp down inflation—have cooled off a housing market that has been hot for years.
Closed sales in the 16-county central Indiana area drooped from 3,883 in August 2021 to 3,461 last month—a year-over-year decrease of 10.9%, according to the latest data from the MIBOR Realtor Association.
The Monon 32 and the Domino, two projects in the 14.5-acre Monon 30 project, have received approval for their own respective tax increment financing districts and millions of dollars in bonds.
The developer behind the proposed revamp of the former Jail II and Arrestee Processing Center facilities on the eastern edge of downtown Indianapolis said he expects city incentives for the project to be secured by the end of this year.
The developer of Riverbank Townhouses—featuring units with listing prices beginning at $750,000—hopes the project will encourage more homeownership in the village.
The facade-replacement project is expected to resolve to longstanding water-infiltration issues at the 30-story towers.
After decades of gray-dominated interiors, other colors are starting to rise to the forefront, including white, green, blue and yellow.
Previous owners Brian and Emily Mack spent 17 years living in and lovingly restoring the 1908 Craftsman home built by Carlos and Anne Recker. It was designed by Gustav Stickley and is the only known example of his work in Indianapolis.
Jennil Salazar switched agencies to Compass Indiana LLC but held on to the top spot of the IBJ All-Star Solo Agents for the fourth straight year. And a trio of veteran real estate agent teams maintained their hold on the top three places in IBJ’s All-Star team rankings, with Dennis Nottingham’s Indy Home Pros Team in the No. 1 position.
The idea came to Lobyn Hamilton after he moved into a former grocery store in the neighborhood where he spent the earliest years of his life.
The company presented plans to the Noblesville City Council for two new rental-home communities, but some councilors expressed concerns about the amount of housing under development in the city.
Lawn Pride Inc., which was founded 40 years ago by its CEO, will become the latest franchise brand for Waco, Texas-based Neighborly Inc.
The local developer is planning several modifications to the complex, including the addition of two floors, more than 50 apartments and a new parking garage.
In a state-of-the-industry report released this week, the Builders Association of Greater Indianapolis predicted that new-construction home sales in the nine-county area would slow significantly through 2023.
Ellis Acres would be built on 10 acres on the southwest side of the intersection of County Road 750 South and Indianapolis Road near the interchange of Interstates 65 and 865.
