The number of active listings in central Indiana—at 5,077 at the end of February—remains low, although it’s 15 percent higher than at the same time a year ago.
On a year-to-date basis, closed sales of existing homes in the 16-county Indianapolis area are down 3%, to 12,731.
Applications for home construction fell 1% in central Indiana in May, marking the sixth straight month of declining permit filings.
The Fishers City Council on Monday night approved a development agreement between the city and Indianapolis-based Scannell Properties, which has 14 residential parcels under contract south of the Nickel Plate District.
TWG Development could save $1.4 million on the 188-unit Wesmont, named after jazz guitar legend Wes Montgomery. It’s part of the company’s larger redevelopment project south of East 16th Street and east of the Monon Trail.
Real estate agents and local economists said inventories are so sparse that some popular ZIP codes in Arlington and Alexandria show no homes for sale at all.
According to the complaint, First Merchants “engaged in unlawful redlining in Indianapolis by intentionally avoiding predominantly African-American neighborhoods because of the race of the people living in those neighborhoods.”
A Carmel-based developer has reached agreements to acquire 14 homes in a neighborhood along busy 116th Street in Fishers and is planning to redevelop the land.
The two local developers said they hope to start work on a 267-unit apartment project in Glendale Town Center’s parking lot by the end of this year.
The Zionsville Town Council voted 4-3 Monday night to reject a 184-unit apartment project proposed just south of the town’s quaint downtown village. A vote on the project ended in a deadlock a month ago.
Hamilton County Area Neighborhood Development plans to build it first project in Tipton and only its second outside of Hamilton County.
The 254-unit Nora Pines would be renamed but remain affordable housing. TWG Development is asking the city to issue $17.6 million in bonds for the project, which the developer would be responsible for repaying.
On a year-to-date basis, sales of existing single-family homes are down 3.8 percent in the area, to 9,249.
Ambrose partners with Glick as part of $200M first phase at Waterside development
Forrest and Charlotte Lucas have continued to host not-for-profit events and what they say are private weddings at their West 116th Street property, despite being turned down for a zoning variance by the Carmel Board of Zoning Appeals in 2017.
Milhaus CEO Tadd Miller said his firm, which is also a Xiber customer, decided to invest in the company because of demands from his clients for the services Xiber offers, such as home automation.
The 18.1-acre parcel is one of the few remaining undeveloped sites of significant size on Indianapolis’ northern edge. Although it’s bordered by homes, local brokers foresee commercial development.
Indianapolis-based mall owner Kite Realty Group Trust this month filed a request with the Marion County Board of Zoning Appeals to change zoning for some of the parking lots just east of the shopping center.
The city of Indianapolis has called the 19-acre property southeast of the intersection of 42nd Street and Post Road a “threat to public health, safety and welfare.”
Applications for single-family construction permits in the nine-county area are down 12 percent so far this year.