Construction season finally looms for high-end Carmel apartments

April 11, 2014
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Local developer Pittman Partners and multifamily specialist Barrett & Stokely Inc. are moving forward with plans for a $35 million apartment community near the Monon Greenway in Carmel.

Work could begin this spring at The Seasons of Carmel, a 14-building, 256-unit complex slated for 21 acres at Westfield Boulevard and 98th Street. The project was proposed in late 2012 but construction was slow to get started as the partners lined up financing and fine-tuned their designs.

Plans call for a mixture of one-, two- and three-bedroom apartments, each with its own garage. Amenities include multi-use trails connecting to the Monon, a fitness center and pool, a cyber cafe and community meeting space.

Pittman Partners principal Steve Pittman said the upscale units likely will lease for an average of $1.15 per square foot, placing it among the most expensive rentals in the northern suburbs.

Average rents in Carmel, Westfield and Zionsville range from 74 cents a square foot to $1.23 a square foot, according to multifamily broker Tikijian Associates. Prices have been rising along with occupancy rates, which approached 95 percent last year.

The Seasons likely will take a year or longer to build, Pittman said.

It is one of several apartment projects planned for Carmel. Among the higher-profile proposals in the works: Edward Rose Properties’ $80 million The District, a mixed-use project that includes 400 apartments; Keystone Realty Group’s five-story, 200-unit Sophia Pointe; and Atapco Properties’ 280-apartment Carmel Lakeside, being built in collaboration with J.C. Hart Co.



 

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  • more traffic
    Just what we need here in Carmel- more developments to bring more people and more traffic.
  • Of Course CK
    Naturally, CK immediately focuses on the negative aspects of what this project will provide. What he/she probably hasn't done is research the information regarding the city/state plans for improving all of the various roadways to alleviate traffic issues. In fact, the plans show a significantly improved flow of traffic. This is a welcomed development as it will only increase the land value of the surrounding areas. The existing corn field does nothing...
    • Improved traffic?
      Pretty tough to improve traffic flow, if there is road construction 100% of the time. BTW, where are all the kids from these apartments going to school? Better start building a couple more high schools right away. And, believe me, Apartment projects do NOT increase home values in the same area. The only entities they positively benefit, are the developers and the City coffers. OH....don't forget the Mayor's and city council members' election campaigns, via PAC's.
    • Location?
      I don't live far from 98th and Westfield and I was curious if that was the right address as the only land there currently available is the old Sunrise Golf Course and across from that is land that I believe is already been sold and homes are being built on.
      • East side of Westfield
        It's across from the old Sunrise Golf Club, just south of the pocket neighborhood of single-family homes under construction.

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      1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

      2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

      3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

      4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

      5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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