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.
Residential Real Estate
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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.
Penn Arts owner buys historic apartment building
The Piccadilly, at 16th and Pennsylvania streets, will undergo a historically sensitive renovation of its 58 units.
Mass Ave project surrounding Barton Tower gets state OK
A partnership of Flaherty & Collins Properties and Insight Development Corp. was awarded rental housing tax credits by the state that will be sold to finance construction of a 61-unit, $11.5 million apartment project at 555 Massachusetts Ave.
Decision on canal residential project delayed again
The Metropolitan Development Commission moved a vote on the proposal to April 18 after expressing concern that it didn’t have enough time to review plans that reduce the project from 26 stories to 10. The developer criticized the delay.
DIRECTORY: Swimming Pool Companies
FTE= full-time equivalent Affordable Pool Service P.O. Box 62, Carmel 46082 (317) 848-9699 / fax (317) 848-2312 Website: affordablepool.net Type of company: service/repair Percent of business: commercial 60, residential 40 Services: weekly service, repairs, openings, closings, pumps, heaters, filters, liners, auto covers, custom covers Head(s) of local operations: Tom Wetterer Owner(s): Tom Wetterer, Mary Wetterer […]
DIRECTORY: Residential Design Companies
Arteffects Inc. — Architectural Interiors 4420 N. Meridian St., 46208 (317) 927-0000 Professional interior designers: 2 Other professionals: 1 Services: cost-effective design that enables a desired lifestyle or business operation to occur in inspiring, purposeful ways Head(s) of local operations: Wayne Olander, president and design director Owner(s): Wayne Olander Headquarters city: Indianapolis Year established locally: […]
DIRECTORY: Lawn Maintenance Companies
A-1 Fertilization P.O. Box 20411, 46220 (317) 777-0552 / fax (317) 252-5277 Number of employees: full-time 1, seasonal 1 Number of licensed chemical treatment professionals: 2 Number of chemical lawn treatment vehicles: 2 Lawn services: fertilization, weed and pest control, perimeter and pest control. Other services: snow removal Head(s) of local operations: Ray Stevens Owner(s): […]
Carmel home designed to keep energetic kids occupied
At 10,000 square feet, Paul and Sarah Lushin’s sprawling French Country residence offers plenty of space for recreation and entertaining. It also serves as home base for the family’s quarter midget racing team.
Apartment convenience luring would-be homebuyers
Developers are catering to nontraditional renters by building units resembling upscale condos.
Builders betting on brighter U.S. housing market
Residential building permits are being filed nationally at about half the rate considered healthy by most economists, but builders have grown more confident over the past six months after seeing more people express interest in buying a home.
Developer scales back plans for tower along Central Canal
The firm behind a proposed downtown apartment tower designed for college students has slashed its height from 26 to 10 stories to improve its chances of winning city approval.
Irvington apartment, streetscape projects clear hurdles
Two significant construction projects are closer to starting in Irvington, where the district’s East Washington Street commercial corridor is bouncing back even as one of its key buildings faces demolition.
Downtown condo residents sue developer over damage
The homeowners association for the 70-unit Hudson wants the building’s developer, Kosene & Kosene, to pay to repair damage it alleges was caused by faulty construction.