Urban Indiana

Carmel Redevelopment Commission, developers unveil 2 projects totaling $450M investment, 1,400 dwelling units

The Carmel City Council on Nov. 20 introduced and tabled two ordinances authorizing the city to issue up to $76 million in developer-backed bonds for two new redevelopment projects that include more than 1,400 dwelling units, nearly 80,000 square feet of office or retail space, parking garages and other amenities.

Gramercy and Marketplace is a $300 million project set to be developed by Buckingham Companies between Carmel Drive and 126th Street primarily west of the existing Gramercy Apartments. Set to be built in four phases, it is planned to ultimately include 850 rental units, 191 for-sale units, 28,000 square feet of retail space, public plazas and a 650-space parking garage.

The project includes renovating four existing Gramercy Apartment buildings, extending Kinzer Avenue south to Carmel Drive and adding a roundabout at Carmel Drive. The Marketplace area at the south end of the project is proposed in an area currently home to the 502 East Event Centre and adjacent restaurants and other businesses.

More below:
https://www.youarecurrent.com/2023/11/20/carmel-redevelopment-commission-developers-unveil-2-projects-totalling-450m-investment-1400-dwelling-units/