A Real Estate Resource/Blog for Pike Township, Marion County Indiana
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As Of 8/11/2010 In Pike Township There Are: 660 Houses/Condos For Sale With An Average Time On The Market Of 117 Days
122 Houses/Condos That Are Now Pending - Average Days On Market 88
9 Houses/Condos Sold Month To Date (August 2010) Avg Days On Market - 54
623 Houses/Condos Sold Year To Date (2010) Average Days On Market - 82
   (Down 6.3 percent from 2009 YTD)
665 Houses/Condos Sold Year To Date (2009) Average Days On Market - 92
1143 Houses/Condos Were Sold In Pike Township In 2009 - Unaudited
Information Is Deemed Reliable But Not Guaranteed.
Pike Township Foreclosure Study's Pike Foreclosure Study 2006 (30 Pages In PDF Format)
Pike Foreclosure Study 2007 (47 Pages In PDF Format)
Pike Foreclosure Study 2008 (45 Pages In PDF Format)
This time we are looking at 208 new apartments. This new development was going to have 126 single family homes in addition to the apartments but guess what? There are no builders interested in building 126 homes at this location at this time.
The location? 7511 New Augusta Road. Just south of Eastbrook Elementary School and north of the Augusta Green neighborhood. Currently the property is home to Crooked Creek Golf Club and Midwest Softball.
Pike Township Schools bought the north 47 acres of the total 114. They would like to rebuild Eastbrook either just south of where it is now or further south on part of the 47 acres. Eventually they might build a new middle school on the remainder of the 47 acres sometime in the future. The other 67 acres would be for apartments and single family homes.
Since the apartments would be where some of the golf course is and since the single family homes would be where the some of the softball fields are there is talk that the softball fields may stay open another year or until they can find a single family home builder.
My take?…I am always leery about new apartments. The density of these apartments would be 10.96 units per acre on 18.981 acres. I have seen pictures of what the proposed buildings would look like. They remind me of Lakes of Georgetown at 62nd and Georgetown. I have several other grips. They will be adding 200 new cars of traffic to New Augusta Road just south of the school. I suppose you could argue that apartment residents could walk over to Georgetown Road and catch the bus. The entrance to the community is along side this monstrosity. A red trailer that has been sitting there for years. It would be much nicer if the developer bought this property (has been commercial use in the past – carpet warehouse) and turned the entrance into a park like setting (this property has been for sale). As a Realtor I like nice entrances to communities. This attracts buyers. My other big grip is that the high power lines go right through the middle of the community. For resale, this is horrible. Nobody likes to buy next to high power lines.
I don’t think this project will be stopped. I have attended several informational meetings on this project and the city seems to be OK with it. It will be interesting to see when a production builder will step up and be willing to build single family homes at this location.
Original Plot Plan – Click Here
Revised Plot Plan – Click Here
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November 7th was a sad day for Pike Township Residents Association and myself. PTRA had asked me to do a presentation in front of the Metropolitan Development Commission to try and stop a new community from being built at the old YWCA location. I knew of many reasons why it was a bad idea and tried to express them to the commission. The southeast quadrant of Pike Township is very unstable in terms of property values and foreclosures. Until the area stabilizes you don’t want a new community in the area. Not only would it not help the surrounding communities but would likely depress the values of the new homes. Unfortunately the Commission only looks at “land use”. If there are houses all around the land, why not put houses there. It is very sad that the Commission takes a narrow view at zoning, but that is their charge. State statutes say that is the way they are suppose to judge it. I consider this a huge flaw in the zoning system.
There is one glimmer of hope…the zoning they received for the land allows for 75 homes OR the land can be used for religious use. There is a church that is interested in the property. They would use the existing YWCA building after fixing it up. Their plan includes neighborhood outreach, programs for children, daycare, and health center etc., something the area could really take advantage of. I am hoping that a deal can be made between the developer and the church. Otherwise I see a storm brewing.
Plot plan of the new development – Click Here
Commission presentation through Windows Media Player – Click Here Starts at 22:55
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8/11/2010 5:00 PM Theme copyright © 2002–2010 Mike Little.

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