Troubled Lakeside Pointe apartment complex acquired
Lakeside Pointe at Nora apartment complex—under threat of a city nuisance lawsuit—has a new owner. The former owner owed more than $225,000 for 600-plus housing code violations at the complex.
Residential Real Estate
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Treasury: Most COVID rental aid went to low-income residents
The Treasury found that more than 40% of tenants getting help were Black and two-thirds of recipients were female-headed households.
Cummins awards more than $1M to boost Martindale-Brightwood neighborhood
The grant will be used to fund mortgages to low-income residents who are buying one of 12 newly-constructed homes that are being built on previously-vacant properties in the neighborhood.
Central Indiana homebuilders off to slow start in 2022
Central Indiana homebuilders are coming off their busiest year since 2005, but January saw a big drop in single-family building permit filings.
Rents skyrocketing across United States with no end in sight
In the 50 largest U.S. metro areas, median rent rose an astounding 19.3% from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms. Indianapolis-area rents have seen a smaller, but still significant, jump.
City, partners push forward with renter support despite setbacks
City officials say they’re focused on a “test case” nuisance lawsuit and funding a range of programs to tackle persistent challenges with habitability, affordability and legal aid for tenants.
Developer planning $98M housing, retail project at 96th and Allisonville
The project from Carmel-based developer CRG Residential would contain 380 apartment units, 66 townhomes for sale and 35,000 square feet of retail space. The firm also would donate 25 acres of land to beef up a recently announced city park along the White River.
Homebuyers face another obstacle as costlier loans sap affordability
Costs for 30-year loans hit a more than two-year high of 3.69% last week, rising about 20% just since Christmas. Further increases are expected as the Federal Reserve, trying to curb inflation, hikes its benchmark rate.
Rents are up 14% nationwide, forcing millions to find another place to live
In Indianapolis, rents increased 9% last year, to $1,280 per month. But in some cities, rent jumped by more than 40%.
Area residential real estate market sees rising sales, soaring prices in 2021
Sales of existing single-family homes in central Indiana slowed in December, but 2021 was a solid year for the residential real estate market despite high prices and shrinking inventories.
Kittle to develop $54M workforce-housing project in fast-growing Whitestown
To help support blue-collar workers, Meadows on Main will be income-restricted and serve individuals and families generally making 40% to 70% of the area’s median income.
Central Indiana homebuilders see busiest year since 2005
Eight of the nine counties in the Indianapolis area saw a year-over-year increase in single-family building permit filings in 2021.
Nearly $15M townhouse project slated for spot where Meridian-Kessler meets Monon
In the latest of a slew of projects planned by local developer Onyx+East, more than 50 units in the high $200,000s to the low $400,000s are planned by the trail’s intersection with 46th Street.
IBJ Podcast: How the sale of Christel DeHaan’s estate could expand her legacy
Host Mason King talks to the real estate agent who has listed Christel DeHaan’s estate for $14 million, in addition to Christel House International CEO Bart Peterson and Christel DeHaan Family Foundation President Mark Willis about the impact of a sale.
Community leaders form land trusts to tackle affordable housing shortage
A wide range of neighborhood organizations and residents think they’ve found an approach that could keep property affordable indefinitely.
Christel DeHaan home generating big interest from potential buyers, agent says
Based on the early interest in the property, the estate might end up selling above $14 million list price, the listing agent said. Proceeds from the sale will allow the not-for-profit Christel House International to expand its outreach to students in high-poverty areas around the world.
Local developer planning townhouses in Old Northside neighborhood
Onyx+East is expected to appear before the Indianapolis Historic Preservation Commission on Wednesday for a preliminary review of the $6.5 million project.
Home of late philanthropist, businesswoman Christel DeHaan on market for $14M
The listing provides a rare glimpse at an Indianapolis estate that sits behind stucco walls topped with terracotta tiles at 4501 N. Michigan Ave.
Homeowners keep spending on renovations, upgrades
Homeowners locally and nationwide, far from being deterred by supply-chain snarls, are showing increasing interest in remodeling.
Existing-home sales rebound in central Indiana
Sales of single-family homes were back on the rise in the area in November, ending a two-month streak of declining purchases despite rising prices and tight inventories.