Condos are in the works for Carmel’s central core
City officials have long sought to diversify housing options by introducing for-sale condominiums and town houses into a market saturated by hundreds of high-end apartments.
Residential Real Estate
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Downtown condo features great views, fresh renovation
Jeff and Anna Tegethoff spent 16 months renovating a condo at 429 N. Pennsylvania St. into what he calls an “urban oasis.” But six months after moving in, they’re putting the house on the market.
Carmel-based builder that launched during recession just keeps growing
Old Town’s sister companies are continuing to develop projects in Carmel, working on a large mixed-use development that will help transform downtown Westfield, and expanding their reach into West Lafayette, where the company is part of a $1 billion project being constructed next to Purdue University’s campus.
Residential Real Estate: Marketplace Stats for October 25, 2019
Inventory remains low. As of Sept. 1, the region had just two months of supply—10% less than at this time last year—meaning it would take just two months to sell out the current inventory of houses if no more came on the market.
Area existing-home sales tick up amid declining inventories
Sales of existing single-family homes rose 1.8% in central Indiana in September—only the second month of increased sales this year on a year-over-year basis.
Indianapolis-area home builders seeing late-year surge in demand
Applications for home construction in the nine-county area have risen three months in a row following seven straight months of declines.
More than 360 homes planned for two subdivisions on southeast side of Indy
Indianapolis-based Westport Homes Inc. plans to ask the city’s Metropolitan Development Commission for approval to rezone two tracts of land for two subdivisions totaling 155 acres.
Report links high rent burdens, homelessness in Indianapolis
Marion County has a much higher percentage of households than the rest of the state that rent their homes instead of owning them, according to a report issued this week by the Indiana University Public Policy Institute.
Residential real estate developer Onyx+East hires new chief executive
Kelli Lawrence had been a principal partner at Indianapolis-based multifamily development firm Cityscape Residential for the past six years.
Is Westfield growing too fast?
As Westfield’s housing stock and population balloons—following the rapid growth Carmel and Fishers have experienced for more than a decade—some residents are concerned too much development is coming too fast. And they’re pushing back.
Area existing-home sales fall for eighth time in past nine months
On a year-to-date basis, closed sales are down 1.5% in the 16-county central Indiana area, to 23,631.
Owner proposes 22-story addition to downtown’s Morrison Opera Place
Plans for the development include a 220-room hotel and 32 residential units. The addition would boost the existing historic building from four to 26 stories.
Carmel weighs 64 percent increase to park impact fees charged to builders
City planners say the higher fee would help pay for future land acquisition, a park expansion and improvements along the White River. Builders are concerned about the added cost.
Area home builders see busiest August in 12 years
It was the second month in a row of year-over-year increases for single-family construction permit filings following seven straight months of declines.
Developer Litz & Eaton split leaves messy trail
Five years after the prominent developer upped its business ambitions—going from a home-renovation firm to high-end, multi-home projects—the firm is unraveling.
Pulte proposes 490-home development for seniors in Westfield
The homes—mostly ranch-style—would be located on land currently used for agriculture north of 146th Street.
Downtown’s E’laan apartment building set for sale, $5M expansion
An upscale apartment building in downtown Indianapolis is expected to be acquired at the end of this month by a local firm that is planning an expansion project that will almost triple the number of units in the property.
One of Carmel’s oldest neighborhoods fighting to stave off redevelopment
Homeowners in Johnson Addition, which was built in the late 1950s and early 1960s, say their neighborhood is charming and one of the few affordable neighborhoods left near Carmel’s downtown—and they want it to stay that way.
Treasury unveils plan to privatize Fannie Mae, Freddie Mac
The administration’s plan calls for returning Fannie and Freddie to private ownership and reducing risk to taxpayers, while still preserving homebuyers’ access to 30-year, fixed-rate mortgages, a pillar of housing finance.
Historic preservation commission votes to protect Drake Apartments
The Indianapolis Historic Preservation Commission voted Wednesday night to put a historic designation on the eight-story apartment building owned by The Children’s Museum of Indianapolis amid concerns the structure might be torn down in coming weeks.