Articles

Mortgage-default filings surge in Indiana, nation

Default notices sent to delinquent U.S. homeowners surged 33 percent in August from the previous month, a sign that lenders are speeding up the foreclosure process. Indiana saw an increase of 46 percent, a bigger rise than every state except California.

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Critics: Wrecking ball won’t fix Indianapolis neighborhoods

Many neighborhood leaders have hailed Mayor Greg Ballard’s initiative to raze some 2,000 abandoned homes by the end of 2012 as a long-overdue means of tackling urban blight. But some residents and experts fear rampant demolition—without a clear plan for how to redevelop the properties—will fail to improve neighborhoods.

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Home-sale deals tick up in Indianapolis area

Home-sale agreements in the nine-county Indianapolis area rose 3.6 percent in July from the same month a year earlier, marking the third straight month of year-over-year increases after 14 months of declining sales.

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Home construction permits dip in July

The number of permits filed last month in the Indianapolis metropolitan area declined to 305, a decrease of 4 percent from the same month in 2010, according to the Builders Association of Greater Indianapolis.

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North of South gets a new name: CityWay

The $156 million mixed-use development at Delaware and South streets in Indianapolis has a new name designed to reference both the project’s downtown locale and the urban “way of life” it will offer.

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Precedent joins ranks of battered developers

The Precedent Cos.—the local developer of The Precedent Office Park, Mount Comfort Commercial Park and several upscale residential communities in Hamilton and Johnson counties—is winding down operations in an out-of-court restructuring.

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