Nick Blum bought a vacant, three-story building south of Massachusetts Avenue and plans to move his Blumlux boutique there. The project will include luxury apartments and space for office users.
Montage on Mass will feature 236 apartment units, 36,000 square feet of retail, two levels of underground parking and a giant three-story, electronic-mesh art display.
The project includes adding a new eastbound lane on 116th Street from Interstate 69 to Cumberland Road. The city would have to acquire as many as eight homes in the area for the necessary land.
The local apartment developer has brought aboard Jason Sturman from Duke Realty Corp. to serve as chief investment officer and help guide its Midwest expansion.
The share of the U.S. population who own homes has slid to a 48-year low. The typical first-timer now rents for six years before buying a home, up from 2.6 years in the early 1970s.
Home-sale agreements in central Indiana fell 4.5 percent in July, marking the fourth time in five months that deals have decreased on a year-over-year basis.
Wet weather and a shortage of lots contributed to a 17-percent decrease in permit filings in the nine-county metropolitan area in July.
Deylen Realty is requesting the abatement to offset the cost of building Forte, a 64-unit apartment-and-retail project on part of a surface lot that had been owned by the city.
Van Rooy Properties plans to spend more than $3.5 million to convert the crumbling structure into market-rate apartments while also constructing a new building on an adjacent lot to the west.
The Federal Home Loan Bank of Indianapolis, commonly known as a private-sector bank for banks, announced July 17 that it awarded $10 million in affordable-housing grants in Indiana and Michigan, including two $500,000 grants for projects in Indianapolis.
The development would be built on land at East 22nd and Delaware streets owned by King Park Development Corp. and would feature 47 market-rate units and 9,000 square feet of retail.
A startup not-for-profit has begun returning vacant and tax-delinquent properties to the city’s tax rolls, stepping into a void left by the disgraced Indy Land Bank.
Only about 2 percent of the avalanche of residential units built in Hamilton County the last five years is dedicated to affordable housing.
U.S. builders broke ground on apartment complexes last month at the fastest pace in nearly 28 years, as developers anticipate that recent jobs gains will launch a wave of renters.
Builders filed 530 single-family permits in the nine-county metropolitan area in June, the Builders Association of Greater Indianapolis said Thursday. That's a 9-percent increase from June 2014.
Central Indiana home-sale agreements slid 4.8 percent in June, the third time in four months that deals have fallen, according to a report released Tuesday by real estate agency F.C. Tucker Co.
Five of the six buildings that Indianapolis Public Schools put on the block last month have attracted offers, with bidders appearing to lean toward renovating several as apartments.
Chase Development LLC plans to build 12 condos ranging from nearly $400,000 to $1.2 million as part of its 500 Park Residences project at the northwest corner of East Michigan Street and Park Avenue.
The country club on the northwest side foresees 46 houses on 25 acres and using money from the sale of the land to make crucial improvements to the private retreat.
Gary Hobbs and his wife, Lori, have built BWI LLC into a fast-growing developer of affordable housing with 48 employees and more than $10 million in annual revenue.
