Building Permits Rise in October

Posted: Updated:
INDIANAPOLIS -

The Builders Association of Greater Indianapolis says single-family building permits in central Indiana rose 11 percent in October. The organization, which covers a nine-county region, says even with the increase, room remains for future growth.

The BAGI says 550 permits were issued last month, compared with 494 during the same month last year. The organization says 5,258 permits have been issued year-to-date, which is a 6 percent increase over the same period in 2016.

"Demographics are changing," said Craig Jensen, board president of The Builders Association of Greater Indianapolis. "While we are encouraged to see slight increases in permits this month, census data tells us that single-person households are expected to grow 44% nationwide by 2030. Our market is lacking the price points and housing product to accommodate both the young and mature generations who are seeking smaller homes on smaller lots with less maintenance and more walkability. In order to continue growing, community planning processes must be adapted to fit these evolving needs."

Seven of the nine counties saw increases in building permits. Hancock County led the way with a 73 percent increase over October 2016. Hamilton County was the only county with a decrease in permits, dropped 18 percent compared to the previous year. Boone County remained flat for the month.

You can view the figures for September and for all of 2017 in the chart below:

  • Perspectives

    • Wojtowicz founded Indianapolis-based Cambridge Capital Management Corp. in 1983.

      Fixed, Long-Term Interest Rates Protects Against Rate Hikes

      A Hoosier small-business owner recently told his banker that, “Interest rates are as low as they ever will be” in the foreseeable future, and he wanted to get a loan with a “friendly” rate. The Fed made that official recently when it indicated  another quarter-percent rate hike will likely occur in December.  Most pundits expect there to be  three more rate hikes in 2019. Small-business owners are under pressure to act if they are considering...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • $25M Behavioral Hospital Coming to Central Indiana

      Danville-based Hendricks Regional Health is partnering with US HealthVest to develop a stand-alone behavioral center on the Hendricks campus in Plainfield. Known as the Indianapolis Behavioral Hospital, the facility will provide specialized inpatient and outpatient mental health care to patients of all ages.

    • Rolls-Royce in Indy Selected For $100M Contract

      The U.S. Department of Defense has awarded a contract worth up to $100 million to Rolls-Royce Corp. in Indianapolis. The contract is related to Phase I of the Advanced Turbine Technologies for Affordable Mission-Capability program for the U.S. Air Force.

    • WOWO Names 'Morning News' Host

      The program and news director of WOWO radio in Fort Wayne has been named host of the station's morning show. Kayla Blakeslee will lead Fort Wayne's Morning News, succeeding longtime host Charly Butcher, who passed away in August. Blakeslee has served has the station's program director for the past two years, and previously served as news director and afternoon anchor. She led the station's "Penny Pitch" campaign in 2017, which earned a Service to America award from...

    • USA Gymnastics Interim CEO Resigns

      Just four days after being appointed interim president and chief executive officer of Indianapolis-based USA Gymnastics, Mary Bono has resigned. In a statement released Tuesday, Bono said her decision "comes in the wake of personal attacks that, left undefended, would have made my leading USAG a liability for the organization." Bono, a former congresswoman and principal at Faegre Baker Daniels Consulting in Washington D.C., drew criticism for a...

    • Wesemann Hall at the Valparaiso University Law School (photo courtesy Tony V. Martin/The Times of Northwest Indiana)

      Valpo School of Law Transfer Denied

      A proposal to transfer Valparaiso University's law school to another university has been shot down. The Tennessee Higher Education Commission has denied the transfer to Middle Tennessee State University, which would have led to the creation of a College of Law at the school.