Carmel neighbors up in arms over plans for Monon Lake
M/I Homes of Indiana’s plans to develop a 43-home community on heavily wooded property along the Monon Greenway is facing opposition from neighbors and members of the Carmel Plan Commission.
Residential Real Estate
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Existing-home sales slide for seventh straight month
Home prices rose, however, as inventory dwindled. The average area home price in March was $161,191, an increase of 6.1 percent compared with the same month of 2013.
Area home- construction permit filings back on the rise
The central Indiana home-construction industry saw its second straight month of improving activity in March following a bitter winter that slowed business.
Construction season finally looms for high-end Carmel apartments
Local developer Pittman Partners and multifamily specialist Barrett & Stokely Inc. are moving forward with plans for a $35 million apartment community near the Monon Greenway in Carmel.
Trailer parks lure ex-traders eyeing double-wide returns
Former hedge-fund executives who left Wall Street are finding new ways to milk profits from old trailer parks, including one in Indianapolis.
Revamped hotel key to Muncie revitalization efforts
The 91-year-old Roberts Hotel building has undergone a $17 million renovation that created the 83-unit Lofts at Roberts development. The project was crucial to the city’s ability to attract a new downtown hotel.
Growing demand for apartments pushing up rents
With demand for apartments surging, rents are projected to rise for a fifth straight year. Even a pickup in apartment construction is unlikely to provide much relief anytime soon.
Banks see resurgence of home equity loans
Although mortgage-refinancing applications are down, the product reviled and thought extinct after the 2008 housing crash that decimated property values may save the day for lenders: the home equity loan/line of credit.
Bloomington council backs Habitat neighborhood
The Bloomington City Council is giving permission to a Habitat for Humanity group to develop a neighborhood with 35 homes.
1960 modern house was built for the age(s)
Restoration evokes marveling over its trappings and construction to withstand the Atomic Age.
Expensive homes selling quickly in Indianapolis area
Pricier houses are vanishing from the market faster than less-expensive homes due to a temporary bottleneck caused by rising demand and a slow recovery by builders.
Home construction ticks up amid harsh weather
The central Indiana home-construction industry saw a small rise in business in February, the Builders Association of Greater Indianapolis reported Tuesday.
City to consider $7.7M bond issue to assist Broad Ripple project
Browning Investments Inc. says that it is seeking $5.7 million from the bond issue to help finance Canal Pointe, its controversial $30 million apartments-and-retail project.
Home-remodeling firm giving new life to vacant Carmel center
The vacant, 14,500-square-foot property in the heart of the city has been purchased by a local home-remodeling company, which plans to occupy half the building and lease the rest.
Home-sale agreements continue disappointing trend
Pending home sales in the nine-county area slid 22.8 percent in February compared with the year-ago period. That was only a slight improvement from the 31-percent fall recorded in January.
Village of West Clay developer suspending operations
Brenwick Development Co. claims a switch in lenders has halted about $7 million in land sales in the mammoth mixed-use community in Carmel. The firm has filed suit against the banks.
Red Cross rethinking downtown HQ design, delaying land swap
Re-examination of the scope of the not-for-profit group’s project has stalled progress on a three-way property exchange that would clear the way for a massive apartment project on Massachusetts Avenue.
Durham’s Geist mansion goes back to the bank at auction
Lender JPMorgan Chase & Co. took possession of convicted Ponzi schemer Tim Durham’s Geist mansion Thursday after the property failed to draw an offer higher than the bank’s base bid of $2.24 million.
Apex credits door-to-door pitch for windows-sales success
The company eschews traditional—and expensive—mass marketing in favor of face-to-face solicitations.
Rose’s plan for $80M Carmel project moves forward
Edward Rose Properties’ proposal to develop an $80 million mixed-use project near Old Meridian and Main streets is heading to City Council for consideration.