It was another rough year for the real estate sector in 2011, as the homebuilder Estridge filed for bankruptcy, strip-center specialist Broadbent struggled to hold onto its headquarters, and Centre Properties faced a $43 million foreclosure suit.
The private school recently bought the 5.7 acres north of its campus that Dr. Bill Nunery, a local ophthalmologist, had planned to develop into an upscale residential enclave known as Grace Hill.
In the nine-county metropolitan area, the number of home-construction permits filed last month dropped to 225, a 13-percent decrease from the same month in 2010.
A Marion Superior Court judge has approved the appointment of a receiver to manage Lexington Park near North Post Road and East 38th Street.
Merchants Pointe, a two-building office/retail development at 116th Street and Keystone Parkway, is getting a fresh start after major road construction drove away tenants and caused a previous owner to default.
The 7.2-percent increase last month in Indianapolis home-sale agreements marks the seventh straight month of year-over-year increases, according to a report from F.C. Tucker Co.
Valparaiso-based Investment Property Advisors wants to build an $83 million apartment project for college students on one of the last available parcels along downtown’s Central Canal.
The first phase of the $22.5 million project, dubbed The Point on Fall Creek, would involve the construction of 58 apartments. Another 80 units would follow, complemented by a retail component.
Former Indianapolis Motor Speedway CEO Tony George and his wife had tried unsuccessfully to sell their 12-acre wooded estate and now are planning to divide the land into a four-lot subdivision.
The number of transactions has more than doubled compared with last year, a spike in deal flow caused by healthy occupancy rates and a combination of ample supply and low borrowing costs.
Providence Homes was started earlier this year by Mitch Davis, 42, a former vice president of the now-defunct CP Morgan Homes; and Brian Mann, 44, managing partner of Mann Properties.
The developer of downtown’s Cosmopolitan on the Canal is nearing a deal to sell a stake in the building to an investor in a move that could free up capital to launch a $24 million second phase.
The local arm of a California-based developer of affordable housing is planning to invest up to $10 million in a 60-unit complex at 20th Street and the Monon Trail.
In the nine-county metropolitan area, sale agreements for existing homes climbed nearly 12 percent, to 1,541, in October, an increase of 163 from the same month last year.
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
Double-digit increases in permit filings the past three months have residential construction activity in the Indianapolis metropolitan area in position to surpass last year’s pace.
A Bartholomew County not-for-profit affordable housing development group is preparing to fight in Indiana Tax Court a denial of its property-tax exemption. The denial has put the organization
$200,000 in debt and its rental homes in danger of tax foreclosure.
The complaint alleges that David J. Williams’ properties have been the subject of more than 400 violations and have generated more than 30 police reports for criminal activity.
Most buyers are bottom-fishers, investors looking for better returns or companies wanting their own building.
A survey of developers suggests up to 3,438 new units could hit the rental market next year, which would be the highest total since 1987, when central Indiana gained about 4,500 units.
