Area sees May surge in residential building permits
New-home construction in the Indianapolis area rebounded last month from a poor April to post a big year-over-year increase.
Residential Real Estate
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Bank seeks to foreclose on local apartment complex
The owners of Arbor Green Apartments on the city’s northeast side owe nearly $15.9 million on a 2008 loan, according to court documents.
Buckingham reviving Gramercy project with smaller plans
Buckingham Cos. has revived plans to redevelop the massive Mohawk Hills apartment complex in Carmel, but the latest version of its Gramercy project takes a huge step back from the original dense, urban-revival-style plan the developer proposed six years ago.
Sales of existing homes up nationally in April
Modest increases in home sales are the latest sign that the market could be starting to turn around nearly five years after the housing bubble burst. Still, housing construction remains at roughly half the pace that economists consider a healthy market.
Retail lineup taking shape for CityWay project
CityWay has landed a fine dining restaurant, a mixology bar, a Qdoba and a frozen yogurt shop as developer Buckingham Cos. turns its attention to the retail portion of the $155 million mixed-use project.
Massive Anson project showing residential, retail progress
Duke Realty Corp. has retrenched at its massive Anson development in Whitestown—focusing on the most promising sections, rearranging some of its site plans, and letting land-purchase contracts expire on about 300 acres where development prospects are likely several years away.
Central Indiana home-sale agreements up in April
Purchase agreements of existing homes in the nine-county area tracked by F.C. Tucker Co. hit 2,252 last month, a 3.3-percent increase over April 2011. Year-to-date home sales were up 12 percent.
Metro-area building activity dips in April
Permits filed last month in the nine-county area totaled 352, a 2-percent year-over-year decrease. But activity through the first four months remains stronger than it was during the same time last year.
Local real estate developer files for bankruptcy
Cornelius M. Alig, chairman and CEO of Mansur Real Estate Services Inc., filed for Chapter 7 protection, listing $11 million in personal debt he attributed to the prolonged slump in the real estate market.
Ball State planning 100-room campus hotel
Ball State University plans to build a $25 million hotel in a building that will also have student-housing space, conference rooms and two restaurants.
Pulte snaps up, repositions stalled Avon housing development
Pulte is tossing out the prior builder's playbook, which called for duplexes aimed at buyers 55 and older. Pulte rezoned the land to allow for single-family homes on larger lots. The resulting 123 home sites will accommodate ranch-style homes starting in the low $100,000 price range.
Milhaus buys 55 acres on Keystone to build 300 apartments
One of the most conspicuous local remnants of the condo crash—an unfinished $150 million South Carolina-themed community near Keystone at the Crossing—could finally be completed, as apartments.
City gives OK for $60M apartment building on canal
Investment Property Advisors agreed to reduce the size of the apartment building from 26 stories to 10 stories and from 485 units to 319 units to help gain support from the city.
Lakes of Carmel apartment complex sold
The 324-unit Lakes of Carmel apartment complex has been sold, a real estate broker involved in the sale announced Friday. Terms of the sale were not announced, but the property was previously sold in 2006 for $21.8 million.
Area homes sales rise for 11th straight month
Purchase agreements in the nine-county area increased 4.9 percent over March 2011. Existing home sales were up 13.3 percent in the first quarter of 2012 and have recorded year-over-year improvements for 11 straight months.
Homebuilders resume land development after enduring crash
Newly confident buyers seeking to capitalize on low mortgage rates have discovered there’s a scarce supply of well-maintained existing homes for sale and are turning in larger numbers to new homes.
City approves design of $45M downtown project
Plans call for the vacant, two-story former Bank One Operations Center at the northwest corner of Washington and East streets to be converted into a five-story apartment building with office or retail space on the first floor.
Area home-building activity up in first quarter
New-home permits in the Indianapolis metropolitan area rose 13 percent in the first three months of 2012 compared with the same quarter last year, bolstered by stronger activity in February and March.
Foreclosures down nationally, up in Indiana
Actual foreclosures sank to a five-year low in March, but the number of homes entering the foreclosure process is on the rise again.
Plan envisions hot growth for downtown Indianapolis
A study commissioned by the office of Mayor Greg Ballard envisions a much more densely populated, walkable downtown core stretched by several blocks and supported by another Circle Centre mall's worth of retail and enough new office space to double the size of Chase Tower.