Carmel, IN



Four types of placemaking

December 5, 2022|Categories: News|

by CNU Staff OCT. 10, 2014 The many uses of the term “placemaking” are confusing and contradictory. This undermines the term’s ability to help neighborhoods and communities imagine and create a better future. The simplest definition is as follows: “Placemaking is the process of creating quality places that people want to live, work, play, and learn in.” Placemaking is a process. It is a means to an end: the creation of Quality Places. What exactly is a Quality Place? I would characterize it as a building, location, or space that possesses a strong sense of place. It is a structure [...]

Why America’s New Apartment Buildings All Look the Same

February 14, 2019|Categories: News|Tags: , |

February 13, 2019 | Justin Fox, Bloomberg Businessweek  Why America’s New Apartment Buildings All Look the Same   Cheap stick framing has led to a proliferation of blocky, forgettable mid-rises—and more than a few construction fires. These buildings are in almost every U.S. city. They range from three to seven stories tall and can stretch for blocks. They’re usually full of rental apartments, but they can also house college dorms, condominiums, hotels, or assisted-living facilities. Close to city centers, they tend toward a blocky, often colorful modernism; out in the suburbs, their architecture is more likely to feature peaked roofs [...]

Pearl Companies Brings High-End Condos To Downtown Cincinnati

February 14, 2019|Categories: News|

February 14, 2019 in News Why America’s New Apartment Buildings All Look the Same February 13, 2019 | Justin Fox, Bloomberg Businessweek Why America’s New Apartment Buildings All Look the Same Cheap stick framing has led to a proliferation of blocky, forgettable mid-rises—and more than a few construction fires. These buildings are in almost every U.S. city. They range from three to seven stories tall and can stretch for blocks. They’re usually full of rental apartments, but they can also house college dorms, condominiums, hotels, or assisted-living facilities. Close to city centers, they tend toward a blocky, often colorful modernism; [...]

Millennials are flooding into these 25 US cities to find good jobs and earn more money

February 4, 2019|Categories: News|Tags: , |

February 2, 2019 | Hillary Hoffower, Business Insider New York City may no longer reign supreme when it comes to the top cities millennials are settling in, but it's still a boomtown for the generation. Other big metro areas like San Francisco and Washington, DC, are also millennial hotspots, but so too are more up-and-coming cities like Raleigh, North Carolina, and Louisville, Kentucky, both of which are more popular than DC and New York. That's according to a report by MagnifyMoney, which ranked the biggest boomtowns in America for millennials. Using data from the US Census, MagnifyMoney looked at growth in the [...]

Metro apartment boom continues as rents keep rising

December 4, 2018|Categories: News|Tags: , |

November 30, 2018 | Mickey Shuey, Indianapolis Business Journal. Apartment rent is on the rise in Indianapolis, thanks in large part to the area’s boom in new multifamily developments—and updates to old ones. The 2018 Indiana Apartment Market report, released Nov. 29 by multifamily brokerage Tikijian Associates, paints a picture of a region that continues to see growth not only in rental rates but also in available units and occupancy. Overall area occupancy sits at 93.7 percent. Rates have fallen off somewhat in the northern submarket and downtown because of multiple new developments in those areas. But rent is on a [...]

Developer plans 265 apartments, retail around Forest Park-DeBaliviere MetroLink

November 20, 2018|Categories: News|Tags: , |

An Indianapolis developer plans to transform the block around the Forest Park-DeBaliviere MetroLink station with a $70 million development adding 265 apartments and 34,000 square feet of retail. The Bi-State Development Board of Commissioners on Friday voted to proceed with the project. The Bi-State-owned parking lot at the northwest corner of Forest Park Parkway and DeBaliviere Avenue along with the drop-off lot on the east side of DeBaliviere Avenue are targeted for new apartment and retail buildings. The privately owned strip mall to the north of the Bi-State parking lot is also part of the project, slated for a four-story, [...]

St. Louis ranks No. 2 on list of best cities for Jobs

October 18, 2018|Categories: News|Tags: , |

Article from St. Louis Business journal (www.bizjournals.com/stlouis). Posted October 17, 2018. By Joe Dwyer The results are in and St. Louis ranks No. 2 on Glassdoor's 2018 list of Best Cities for Jobs. Pittsburgh took the top spot. Rounding out the top five are Indianapolis, Cincinnati and Hartford, Conn. Job-posting site Glassdoor assigns cities a score based on, "a figure determined by weighing three factors equally: how easy it is to get a job, how affordable it is to live there and how satisfied employees are working there." Here's what Glassdoor based its ranking on: St. Louis, MO Glassdoor City [...]

MAPPED: Where Millennials Are Buying Homes – And For How Much

December 13, 2017|Categories: News|Tags: , |

Article from Business Insider (www.businessinsider.com). Posted December 12th, 2017. By James Kirkikis Millennial home-ownership rates are essential to understanding the housing market because they facilitate additional home sales for other people. How does this work? Suppose you make an offer on a house. The current owner is also probably on the market, and he or she likely has a contingent offer on another house. This sets off a chain reaction throughout the economy. Millennial home-ownership rates are therefore an easy way to judge the economic vitality of any given area. That’s why we created this new map: Our visual takes millennial [...]

PUBLIC OPEN HOUSE – The Wyndham on Delaware

December 7, 2017|Categories: News|Tags: , , , |

Public Open House - The Wyndham on Delaware DATE:  Thursday, December 14th, 2017 PLACE:  The Wyndham - 1040 N Delaware St., Indianapolis, IN 46202 TIME:  3:00 pm - 5:30 pm Open to the public, vendors, investors... and everyone!!

Top 10 Cities With The Largest Rent Increases

November 15, 2017|Categories: News|Tags: , |

Article posted by Multifamily Executive (www.multifamilyexecutive). Posted November 15th, 2017.  The Rent Is Too Damn High is an actual political party in New York City that has nominated candidates for mayor since 2005. But the Big Apple isn't the place where rents are climbing fastest. SmartAsset set out to find the places where they're rising more quickly. In order to find the cities with the largest rent increases, SmartAsset gathered data on four factors. They considered 2013 median household incomes, 2016 median household incomes, 2013 average rent and 2016 average rent. Key Findings Incomes matter: Rental prices in some of [...]

New Housing Models Emphasize Community And Amenities Over Unit Space

October 31, 2017|Categories: News|Tags: , , , |

Article from Bisnow, LLC (www.bisnow.com). Posted September 28, 2017. By Alec Berkman With the number of single adults across the age spectrum growing each year, providing affordable housing options that cater to this demographic is an increasingly prominent priority for developers and policymakers. “One popular solution is ‘co-housing,’ which typically entails smaller dwelling units in buildings offering a number of community-oriented spaces and services, including workspaces, social spaces, fitness centers, communal dining and even retail outlets and boutiques,” said Claire Altman, executive vice president of Affordable Housing and Community Development at Capalino+Company, New York City’s leading strategic consulting and government [...]

One Way Millennials Are Having A Big Impact On Big Companies

October 24, 2017|Categories: News|Tags: , , |

Article from Yahoo Finance. Posted October 5, 2017, by Julia La Roche The millennial generation has a different attitude about where they’d like to work and live, and that’s having a significant impact on corporate America and subsequently commercial real estate. “I think millennials are having a big impact, particularly for big companies, companies in general, as they think about where they locate and what kind of space they create,” said Jon Gray, Blackstone’s head of real estate. Millennials don’t find the suburban corporate campus appealing anymore, and that’s forcing companies to relocate to attract talent. “Today, millennials are saying, [...]

For Multifamily Developers, It Is All About The Dogs

October 11, 2017|Categories: News|Tags: , , , |

Article post from Bisnow (www.bisnow.com). Posted October 2nd, 2017. By Kyle Hagerty. Multifamily has gone to the dogs. High-end pet facilities are becoming the must-have amenity, creating community and driving leasing. “It’s all about the dogs,” Woodbranch Management President Philip Schneidau told the crowd at Bisnow's Future of Downtown Houston event last Wednesday. “Seriously, you really have to take care of the dogs.” Woodbranch Management is the team behind one of Downtown’s hottest multifamily developments, Market Square. The project made international headlines for its glass bottom pool that extends over the edge 42 floors above the street. But Schneidau said Market Square's [...]

Report: Indiana No. 2 In Software Job Growth

September 29, 2017|Categories: News|Tags: , , , |

Article from Indiana Business Journal (IBJ). Posted September 29th, 2017, by Jared Council   In recent years, Indianapolis has ranked near the top in several national studies for tech-job growth. This week, a new report showed that Indiana is strong in that area as well. The Hoosier State added 8,787 software jobs between 2014 and 2016, according to a survey published Tuesday by not-for-profit research group Software.org: the BSA Foundation. *That's 32 percent more than the 27,293 jobs it had in 2014, marking the second-fastest growth clip in the U.S. *   (Kansas ranked first with a 38 percent increase, adding more [...]

Fields Foods To Open In New Dogtown Apartments

September 12, 2017|Categories: News|Tags: , , , , , |

Article from St. Louis Post-Dispatch. Posted September 7th, 2017. By Jacob Barker Fields Foods, the independent grocery store in Lafayette Square, will open a second location in a new apartment complex planned for the city’s Dogtown neighborhood. Jeff Tegethoff, a principal of Indianapolis-based Pearl Companies, said Thursday his company has closed on the nearly one-acre site that once housed a lumber yard at 6300 Clayton Avenue. Construction on a $25 million, 100-unit apartment complex and about 16,000 square feet of ground-floor commercial space, called Hibernia, should start next month. And Tegethoff confirmed what many had suspected: Fields Foods will fill the [...]

The Evolution Of The Multifamily Fitness Center

September 3, 2017|Categories: News|Tags: , , , |

Article posted by Bisnow, LLC (www.bisnow.com)  Posted July 13, 2017 by Alec Berkman. Fitness centers are still a must-have in any community, according to the National Apartment Association. They are the most upgraded community-wide amenity since 2014, and J Turner Research found that 46% of tenants are willing to pay a premium for centers with classes. Installation costs can thus be conveyed to residents in the form of higher rents and quickly recouped. The inclusion of well-designed centers can foster tenant interaction and cohesion, making them a property manager’s weapon of choice in today’s amenity wars. The fitness center has transformed [...]

First Look: Hibernia, In The Heart of Dogtown, St. Louis

August 22, 2017|Categories: News|Tags: , , , , , |

Indianapolis-based real estate developer, Pearl Companies, has done it again...another multi-family residential complex is in the beginning stages of design, only this time from the ground up. Pearl Companies is teaming up with Klitzing Welsch Associates and Raineri Construction (both out of St Louis) to begin construction of a five story mixed use development, Hibernia, this fall. The site at 6300 Clayton Avenue, south of Forest Park, will include 100 market rate apartment homes, nearly 16,000 square feet of ground floor retail space, and an underground parking garage with 123 spaces. Hibernia will house 1 and 2 bedroom apartment homes featuring custom [...]

First Look: The Wyndham On Delaware Taking Shape for Pearl Companies

August 15, 2017|Categories: News|Tags: , , , , |

Indianapolis-based multi-family and mixed-use developer, Pearl Companies, is on their way to completing a 7-story, 37-unit residential apartment community called The Wyndham on Delaware. The building is located at 1040 N Delaware Street, right in the heart of the St. Joseph historic neighborhood in Indianapolis. The Wyndham has been renovated to include high-end 1 and 2 bedroom apartment homes.  Items such as hardwood flooring (some even original to the building), large bedrooms and bathrooms, and spacious kitchens decked out with quartz countertops and stainless steel appliances make these units stand out from others that can be found in and around the [...]

Keeping Your Residents, Losing Your Residents

August 8, 2017|Categories: News|Tags: , |

Article from Units Magazine (National Apartment Association).  Posted in the August 2017 issue.  Following are the top 10 reasons why residents move in and move out, according to the 2017 SatisFacts Insite Move In/Move Out Survey. Why Residents Move In 1. Apartment’s appearance & condition 2. Apartment’s availability 3. Convenience—general location 4. Rent specials/value 5. Apartment’s space & design 6. Apartment has washer/dryer 7. Proximity to work 8. Apartment’s cleanliness 9. Pets are accepted 10. Kitchen appliances & cabinets Why Residents Move Out 1. Life-changing event (marital status, new job) 2. Rent was too high 3. Other (unit price, outdated building, poorly managed 4. Purchased a home/condo 5. Moving out of area 6. Not satisfied with [...]

Apartment Demand At Near-Record Highs

August 1, 2017|Categories: News|Tags: , , , , |

Artcile from Multifamily Executive. Posted June 30th, 2017.  By Mary Salmonsen. Apartment demand rose to 175,645 units across the U.S. in the second quarter of 2017, according to a recent report from RealPage. This number is up one-third from one year ago, and sits close to a record-high level of demand volume. New apartment completions totaled 86,431 in the second quarter, less than half of the current level of demand. RealPage notes that the market is still working to absorb the surplus of new units completed last year and early this year, during which almost no net demand existed. “Today’s [...]

Affordable Housing And Historic Preservation Go Hand-In-Hand

July 25, 2017|Categories: News|Tags: , , , , |

Article from Multifamily Executive (www.multifamilyexecutive.com). Posted June 21st, 2017. By Citylab and Stephanie Meeks. America has an affordability crisis, but young renters want to live in urban environments, even though they are much more expensive. Many think that putting up new high-rises over-developing is the answer, but Stephanie Meeks, president and CEO of the National Trust for Historic Preservation says that creating affordable housing and retaining urban character are not competing goals. In fact, in this article for CityLab, Meeks says the two actually foster each other, and tearing down old buildings won’t make our cities more affordable or inviting. She [...]

Forget About Millennials – Experts Are Now Going After Marketing To Generation Z

July 18, 2017|Categories: News|Tags: , , , |

Article from Business Insider. Posted July 16th, 2017. By Taylor Lorenz. No millennial attracts more mockery than the “thought leader.” These self-described experts, also known as brand consultants, travel the globe engaging in the debatable science of telling companies how a generation comprised of over 75 million people likes to eat, work, shop and live, all the while pulling in serious cash. Now, there’s a new crop of teenage entrepreneurs looking to pick up where their elders left off. As millennials march steadily toward middle age and obsolescence, an increasing number of teen-run consulting firms have sprung up over the past year to teach Olds what’s cool. [...]

3 Myths About Starting A Company In The Midwest That Could Not Be Further From The Truth

July 10, 2017|Categories: News|Tags: , , |

Article from Business Insider (www.businessinsider.com).  Posted July 8th, 2017. By John Wechsler. Indianapolis has historically had trouble shaking the "sleepy manufacturing town" image, much like neighboring cities Cincinnati and Cleveland. But, when Salesforce announced the $2.5-billion acquisition of Indianapolis-based ExactTarget in 2013, the business community began to reconsider the stereotype. Was innovation possible between the coasts? "The Midwest isn't the black hole many believe it to be," said Steve Hershberger, CEO of Fishers, Ind.-based SteadyServ. "In some ways, starting a company in the Midwest is exactly like it is elsewhere. In other ways, it's vastly different." Despite the Salesforce hype, myths about entrepreneurship [...]

Yardi: Rents Rise By 1.5% Nationwide In May

June 27, 2017|Categories: News|Tags: , , , , , |

Article from Multifamily Executive (MFE). Article Posted June 5th, 2017. By Mary Salmonsen The average U.S. monthly rent rose in May for the third month in a row, up by $4, to $1,316, according to the latest Matrix Monthly survey by Yardi Matrix. These increases belie the long-standing rent-growth deceleration trend, which has continued unbroken for 13 months. Rents rose by 1.5% year over year (YOY) nationwide in May, down 40 basis points (bps) from April, 90 bps from March, and 380 bps from the 5.3% rent growth recorded one year ago. The last time the YOY increase in rent [...]

The Coliving Trend: Sharing An Apartment With Strangers

June 20, 2017|Categories: News|Tags: , , , , , , |

Article from The New York Times, posted May 5th, 2017. By Kim Velsey. Over the last decade, Long Island City, Queens, has become a refuge for Manhattan professionals who want a short commute and an apartment in an amenity-laden high-rise, but don’t want to split a Murray Hill two-bedroom three ways to get it. But as rents have climbed — studios in the neighborhood now average $2,405 a month, according to a March market report from the brokerage MNS — more people have turned to informal shares. The problem is that larger apartments are designed with families in mind, making for [...]

6 Reasons Why More Millennials Aren’t Buying Homes

June 13, 2017|Categories: News|Tags: , , , , , |

Article from Business Insider (www.businessinsider.com). Posted June 5th, 2017. By Akin Oyedele Millennial home-ownership in the US is at a record low. The age range of millennials — Bank of America Merrill Lynch economists used 25 to 34 — is usually prime time for purchasing a first family home. That demographic factor is one reason why some housing economists are bullish on demand. However, the data has not yet caught up. "We believe the delay in home-ownership is due to tighter credit standard and lifestyle changes, including delayed marriage and children," wrote Michelle Meyer, a US economist at BAML, in a recent note. "We do [...]

Pearl Companies: Dogtown Apartments, Grocery Store Move Ahead

June 2, 2017|Categories: News|Tags: , , , , , , , , , |

Article from the St. Louis Post-Dispatch. Posted May 31, 2017.  By Jacob Barker A $26 million mixed-use project in St. Louis’ Dogtown neighborhood advanced Wednesday after winning an endorsement from a city commission tasked with reviewing development incentives. Pearl Companies of Indianapolis has been working for months on a proposal to build a 100-unit apartment building with a ground-floor grocer on a former lumber yard at 6300 Clayton Avenue. The nearly one-acre site has been vacant for a decade, and Alderman Scott Ogilvie, 24th Ward, said the developer had worked to win support from neighbors. The project would add density, [...]

Nearby Gyms Attract Renters, Buyers

May 30, 2017|Categories: News|

From Multifamily Executive (MFE) Magazine. Article posted March 17th, 2017. By MFE staff writers.   Much like people seek out apartments and condos near good schools and restaurants, it seems a new community staple is garnering attention of would-be renters and buyers: gyms and workout studios. MarketWatch staffer Sally French reports that the percentage of listings in luxury apartments that contained the words “gym”, “weight room,” or “workout studio” rose to 11% in January 2016 compared to 7.4% in 2010, according to Redfin. In all other apartment buildings and housing developments, the percentage of gyms rose to 6.7% in January [...]

Benioff: Why Salesforce Is Investing In Indy

May 23, 2017|Categories: News|

From The Indianapolis Star (IndyStar). Article Posted May 20th, 2017.  By Marc Benioff - Chairman and CEO of Salesforce Indianapolis is a national leader in creating jobs requiring science, technology, engineering and math skills. The region’s universities and community colleges produce a pipeline of graduates with high-tech know-how.   In today’s global economy where everyone and everything is connected, technology companies can set up shop anywhere. The software company that I lead, Salesforce — which helps businesses manage their customer relationships — has operations in 25 countries, even as nearly all of our software is made in America, including here [...]

Indianapolis Named City To Watch By Conde Nast Traveler

May 16, 2017|Categories: News|

From The Indianapolis Star (IndyStar). Article posted April 20, 2017.  By Holly V. Hays The magazine cites — you guessed it — Indy's growing food scene as a reason why the city made the list. Take that, Carmel. Just when you thought you had something over Indianapolis by being named the best place to live, Condé Nast Traveler stepped up and made things interesting by including Indy in its list of six cities to watch this year. "Have you ever heard of Naptown?" the post reads. "It’s not the newest podcast from the makers of "Serial." As one story goes, the ignoble [...]

Freddie Mac: More Renters Financially Confident, Plan To Stay Put

May 9, 2017|Categories: News|

From Multifamily Executive (MFE) Magazine. Article posted April 10, 2017. By Brian Croce The latest renter survey from Freddie Mac is packed with good news for the apartment industry. A growing number of renters are optimistic about their financial situation and expect to stay where they are even if their rents increase, the research findings, released Monday, show. Also of note, a declining number of renters say they're working toward home-ownership, expect to buy a home, or plan to move within the next few years. Feeling Wealthier Since Freddie Mac’s last renter survey, in September 2016, renters' sentiments about their [...]

India-Based Tech Firm Plans 2,000 Jobs In Indianapolis Area

May 2, 2017|Categories: News|

From the Indiana Business Journal (IBJ) - Article posted May 2nd, 2017.  Written by IBJ staff In the biggest economic development agreement Indiana has reached in more than a decade, India-based technology consulting firm Infosys Ltd. on Tuesday announced plans to open an $8.7 million tech and innovation hub in the Indianapolis area that could employ as many as 2,000 high-skilled employees by the end of 2021. The deal marks the second-largest jobs commitment the Indiana Economic Development Corp. has received since the agency was established in 2005. The largest deal was Honda’s pledge to create 2,067 jobs when it opened a plant in [...]

Indianapolis Is America’s Best City For Renters In 2017

April 25, 2017|Categories: News|

From Forbes Magazine – Article posted March 8th, 2017.  Samantha Sharf, Forbes Staff Indianapolis tops our list of the best cities for renters this year thanks to astonishingly low average monthly rents and astonishingly high levels of affordability. The average Indianapolis rent is just $806, eating up a mere 17% of the median household income for the city. That makes Indianapolis the cheapest place to rent of the cities we analyzed and the second most affordable. Only Kansas City, Mo., has a better rental affordability score at 16% of income. And Indianapolis has a 5.6% apartment vacancy rate, which makes it easier for [...]

Dogtown Apartment Developers In Talks With Local St. Louis Grocer

April 18, 2017|Categories: News|

From the St. Louis Post-Dispatch - Article posted April 11, 2017.  By Jacob Barker Developers of an apartment project in St. Louis’ Dogtown neighborhood say they’re in talks to open a grocery on the ground floor of the proposed building. Pearl Companies of Indianapolis has already won neighborhood backing for the 100-unit apartment building at 6300 Clayton Avenue. Dogtown residents in January voted to support a zoning variance that would allow the five-story structure to be built at the site of a former lumberyard. Materials submitted to the St. Louis Tax Increment Financing Commission don’t identify the grocer but say [...]

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